What do I need to know about my family's finances before I get divorced?

Being knowledgeable about your current financial situation before entering into divorce is the wise, responsible thing to do.

By Mace B. Tamse
June 22, 2006
FL FAQs/Financial Issues

"What do I need to know about my family's finances before I get divorced?"

You should be familiar with all the family's assets (what you own) and liabilities (what you owe). Take particular note of which assets you could access and how to do so. Also know what benefits you and your children are entitled to receive from your spouse's retirement plan, insurance policies, trusts, etc.

Make sure you know the exact location of essential documents such as:

  • Bank records

  • Stock or bond certificates

  • Wills

  • Deeds to your houses

  • Insurance policies

  • Retirement plan agreements

  • Trust agreements

  • Partnership agreements

  • Titles to your cars, boats, etc.

  • Brokerage statements

  • Power-of-attorney statements

  • Other business and financial documents


Mace B. Tamse is a Certified Divorce Financial Analyst practicing with Morgan Stanley in Boca Raton, FL. He is a highly trained financial professional whose clients have access to Morgan Stanley's award-winning equity research, world-class investment banking, and asset-management capabilities.

 

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June 22, 2006
Categories:  FAQs

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Money Problems/Arguments
Physical/Emotional Infidelity
Physical/Mental Illness
Physical/Emotional Abuse
Alcoholism/Addiction Issues
Basic Incompatibility


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