Preparing for divorce comes in many forms. You need to prepare emotionally, logistically and also consider tasks that you need to complete for the divorce process to begin. One thing that you can do now to prepare for the divorce process is to gather the important documents that you will need to settle the terms of your divorce whether you proceed via mediation or litigation.
Here is a list of documents that should be ready to share during the divorce proceedings:
● State and federal income tax returns for the last 3-5 years
● Record of your employment (W-2 form(s) and/or other documentation from all sources of income)
● Comprehensive financial records including bank statements from joint accounts, and any loan information
● Documentation of any real estate purchased during your marriage
● Documentation of any vehicles that you purchased during your marriage
● Information regarding any investments that you have (stocks, bonds, etc.)
● Retirement information including balances and life insurance policies
● Children’s bank account information and any college savings funds
● List of outstanding debt including credit cards, medical bills or other loans.
Mediation Or Litigation To Settle The Terms Of Your Divorce?
As you can see, gathering this information may take you some time, so it is best to begin with a checklist and work through it so that you are ready when the time comes, and you can minimize the stress of the process. It is also important to note that many states (including Minnesota) now strongly encourage couples to attempt to use mediation to settle their divorce, before going through the traditional court process. There are many benefits to using mediation rather than litigation to settle the terms of your divorce. Mediation is less expensive and takes less time than a court battle but is also a more positive and productive way to move forward. Mediation gives you tools and resources you may need down the road to work with your ex.
Divorce Mediation Services In Minnesota
The team at Johnson Mediation specializes in divorce mediation services (online and in person) and can explain the process and help you decide if it is something you should pursue during a consultation. Divorce is difficult. While we cannot make the process “easy”, we can make it easier. Our support, experience and knowledge has helped many couples navigate this process and we would love to help you as well. For more information, give us a call today at 952-401-7599.