Your Divorce Settlement Assets and Liabilities Checklist

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If you are going through a  divorce, your attorney will request a list of all the marital assets and liabilities. Using the following checklist will help make sure you are prepared with all the needed info when it is time to negotiate a divorce settlement agreement. Here is information your attorney will need during divorce settlement negotiations.

Real Estate

If you own real estate, make sure you list all real estate you own together and the following information about each piece of real estate.

  • When the real estate was purchased
  • The purchase price
  • Amount of down payment
  • Where the down payment came from
  • What the monthly payments are if there is an outstanding loan
  • The amount of taxes and insurance paid
  • Any current mortgage balances
  • The present fair market value of the property

Vehicles

Vehicles would include automobiles you drive regularly plus motorcycles, recreational vehicles, and vehicles used for farming. You will need the following information about each vehicle.

  • Year
  • Make
  • Model
  • License number
  • Fair Market Value
  • Balanced Owed

Furniture and Appliances

  • Make a list of all household items
  • The purchase price of item and sales receipt if available
  • Estimated garage sale value or fair market value of all household items
  • Whether the item was purchased or a gift

Life Insurance

  • Name of Insurance company
  • Policy number
  • Face value of the policy or policies
  • Cash value of the policy or policies
  • Name of person insured
  • Any outstanding loans against the policy or policies
  • The outstanding amount
  • The reason for the loan and the date of the loan

Bank Accounts

  • Name and address of bank
  • Type of Account
  • Account number
  • Current balance
  • Names on the account
  • Date the account was opened

Pension Funds

This would include 401k, 403(b), military retirement, etc.

If both spouses have a pension fund or retirement plan you will need information related to both.

  • Name of the plan
  • Contributions made to the plan
  • Any co-contributions made to the plan
  • Percent vested in the plan
  • Years until vested
  • Lump sum collectible now
  • Monthly payments collectible now
  • Date monthly payments become available

Stocks, Bonds, IRAs, Mutual Funds

  • Name
  • Number
  • Purchase price
  • Face value
  • Market value
  • Current Total

Certificates of Deposit

  • Face amount
  • Maturity date
  • Location of C.D.
  • Interest

Tools, Sports Equipment, Art Supplies, Collectibles, Antiques

  • Make a list of all such items and their fair market value.

Business You or Your Spouse Own an Interest In

  • Date business was acquired
  • Date of marriage
  • Name of the business
  • Date business started
  • Whether or not the business is incorporated
  • Total number of shares owned if it is a public business
  • Number of shares in your name
  • Number of shares in your spouses’ name
  • Number of employees
  • Net worth of business
  • Profit or loss business made last tax year
  • Profit or loss made last tax quarter
  • Location of business books

Education

Did you provide your spouse with an education, or did your spouse provide you with an education? If you work so your spouse could pursue an education provide the following information:

  • Give dates when a spouse was in school
  • What education was received
  • Your yearly salary while your spouse was pursuing an education
  • Yearly salary of your spouse if he/she worked
  • The source and amount of any income by you and your spouse

Social Security, Alimony, Retirement

If you were married before and gave up any social security benefits, alimony or retirement benefits when you remarried provided the following information:

  • Monthly amount you were receiving
  • How long you would have received it if you had not married
  • Whether or not you can get it back after a divorce is final

Separate Property

If you and your spouse own any that was brought with you into the marriage, inherited during the marriage or purchased with money from the sale of other separate property provide the following information.

  • Property description
  • When and how the property was acquired
  • What you paid for the property
  • Payments made during the duration of the marriage
  • Fair market value of the property
  • Current amount owed on the property

Creditors

List all creditors and the following information about each debt.

  • Name of creditor
  • Amount owed creditor
  • Amount paid monthly
  • Who incurred the debt, you or your spouse