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Getting to know your chosen divorce financial professional is an important first step to developing a good working relationship. You are going to trust this individual with some vital information like your social security number, your tax returns, your pay stubs, and even your monthly bills which will give him or her a good indication of how you live. You might be feeling rather vulnerable simply because you’re getting divorced. For your first appointment, don’t bring the paperwork that you will eventually divulge but go in for a work relation appointment. Ask more questions than you did in the initial interview and get your divorce financial professional to advocate for themselves. Let them tell you why you can trust them.
If you feel that you can’t develop a working relationship with the professional, move on to the next divorce financial professional. Part of hiring and working with your divorce team is learning how to stand up for your rights, even with your well paid team.
Once you feel that you can go forward into a working relationship with a divorce financial professional, you will have to make another appointment. For this appointment you will be bringing along everything that reflects income, earnings, and expenditures. This includes tax forms (your about to be ex—spouse’s tax forms included) from the previous several years and your current pay stub if applicable. You will need to bring a record of all the regular household bills, including receipts for grocery, gas, and child care expenses. Anything that you or your spouse have a line of credit for will need to be accounted for including the mortgage, car payments, and credit card statements.
If any of your children have any type of major expense it is important to bring records of the typical expected expense with you to your second meeting with your divorce financial professional. This can include medical expenses, sports or artistic expenses, or expenses for tutoring or educational enrichment.
Retirement plans, insurance policies, and the medical, dental, and other benefits that either you or your spouse receive through employment or self employment are usually required. This often requires a little cooperation from your spouse, and his records can be subpoenaed if necessary.
Getting your records together can be a little intimidating when you’re already under the pressure and emotional backlash of a divorce. Let your divorce financial professional guide you through the process and be willing to fax or mail in any forgotten or misplaced records as soon as possible. Most of your expenses can be tracked through the records from a joint bank account, provided that you both use a primary account for bill paying. Take a deep breath and gather further information as it is requested.
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