Divorce Financial Checklist: Every Document and Account to Gather Before You Start
Information is protection in divorce.
The more complete your financial picture is, the better your attorney and financial analyst can protect your interests. The less you know, the more dependent you are on your spouse’s disclosure — which may or may not be complete.
I am Leanne Ozaine, a Certified Divorce Financial Analyst. This checklist covers every category of financial document and account information you should gather at the start of your divorce process. Some of these will be easy to access. Some may require more effort. All of them matter.
Tax Returns
Gather at minimum the last 3 years of federal and state tax returns (both spouses’ returns, or the joint return if you file jointly).
Tax returns reveal:
- Total income for both spouses, including business income, investment income, and rental income that may not be obvious from paystubs
- Interest and dividend income from accounts that may not have been disclosed
- Schedule C income if either spouse is self-employed
- Rental income or losses from investment properties
- Capital gains and losses from investment sales
- Retirement account contributions
- Business interests reported on K-1s
A careful reading of a tax return has caught significant assets that were not voluntarily disclosed. This is one of the most information-dense documents in any divorce.
Bank Accounts
Gather statements for every checking and savings account for at least the last 12 months. If possible, gather statements for the past 24 months or from the date of separation, whichever gives more context.
Include:
- Joint checking and savings accounts
- Individual checking and savings accounts for both spouses
- Money market accounts
- High-yield savings accounts
- Any accounts you may have forgotten about (old accounts at credit unions, banks from previous employers, etc.)
Bank statements reveal not just balances but spending patterns, transfers, and cash withdrawals that may indicate financial behavior worth understanding.
Retirement Accounts
[Listen: Leanne explains where to start when you don’t know what you don’t know -> /listen]
Episode 1 of The Private Sessions covers the first steps toward financial clarity during divorce. Three free episodes, no email required.
This category requires the most effort to ensure completeness.
Gather the most recent quarterly or annual statements for:
- 401(k) plans (current and from previous employers)
- 403(b) plans
- 457(b) plans
- Traditional IRAs
- Roth IRAs
- SEP-IRAs (common for self-employed individuals)
- SIMPLE IRAs
- Pension statements (current employer and any previous employers with vested pensions)
- Thrift Savings Plan if federal employee
- State pension if government employee
For any employer you or your spouse have worked for in the past, verify whether there is a vested retirement account. Many people have old 401(k) accounts they have not rolled over sitting at former employers. These are marital assets if contributions were made during the marriage.
Also gather:
- Social Security statements for both spouses (available at ssa.gov/myaccount)
- Any pension summary plan descriptions (the documents the employer provides explaining how the pension works)
- Beneficiary designation forms for all retirement accounts
Investment Accounts
Gather the most recent statements for all taxable investment accounts, including:
- Individual brokerage accounts
- Joint brokerage accounts
- Trust accounts if applicable
- 529 education savings accounts
- UGMA/UTMA accounts for children
For each account, try to obtain the cost basis information — what was originally paid for each investment. This information is critical for calculating after-tax values in the settlement.
If you have stock options, restricted stock units (RSUs), or deferred compensation through an employer, gather:
- Most recent equity award statements
- Option grant agreements showing exercise price and vesting schedule
- Deferred compensation plan statements
These are often overlooked in divorce settlements and can represent significant value.
Real Estate
For each property owned:
- Mortgage statement showing current balance and monthly payment
- Property tax statement showing current assessed value and annual tax
- Homeowner’s insurance policy
- Most recent appraisal (if available; otherwise, gather recent comparable sales data)
- Any home equity loan or HELOC statements
- Rental income statements if the property is a rental
If either spouse owns investment or vacation property, apply the same document gathering.
Vehicles and Personal Property
- Vehicle titles and loan statements for all vehicles
- Approximate values (Kelley Blue Book for cars; collector valuations for boats, RVs, special vehicles)
- Lease agreements for any leased vehicles
For significant personal property (art, jewelry, collections, antiques):
- Any appraisals or insurance riders
- Purchase receipts if available
Life Insurance
Life insurance policies, especially whole life and universal life policies, can have significant cash value that is marital property.
Gather:
- All life insurance policy statements
- Policy documents showing face value, premiums, and cash value accumulation
- Beneficiary designations
Term life policies have no cash value but the death benefit coverage matters. Whole life and universal life policies accumulate cash value that may be substantial.
Business Interests
If either spouse owns or co-owns a business:
- Business financial statements (profit and loss, balance sheet) for the last 3 years
- Business tax returns for the last 3 years
- Shareholder or partnership agreements
- Any buy-sell agreements
- Accounts receivable and payable statements
- Any recent business valuations
Business income and business value are two of the most commonly disputed items in divorce. Having current financial statements is essential.
Debts and Liabilities
Gather documentation for all debts:
- Mortgage statements (all mortgages on all properties)
- Home equity loans and HELOC statements
- Vehicle loan statements
- Student loan statements (for both spouses)
- Credit card statements (all cards, last 6-12 months)
- Personal loans
- Medical debt
- Tax liens or judgments
- Any promissory notes (money owed to or by either spouse)
Both assets and debts are divided in divorce. Knowing the complete debt picture is as important as knowing the complete asset picture.
Estate Planning Documents
- Current wills for both spouses
- Any trusts (revocable living trusts, irrevocable trusts)
- Powers of attorney
- Any prenuptial or postnuptial agreements
Trusts can hold significant assets, and understanding how they are structured matters for property characterization.
Income Documentation
- Recent pay stubs for both spouses (last 3-6 months)
- Employment contracts if either spouse has a guaranteed bonus or special compensation structure
- Business income documentation for self-employed spouses (Schedule C or business financials)
- Documentation of any other income (rental income, alimony from a previous marriage, trust distributions, etc.)
Organizing What You Gather
Once you have gathered these documents, organize them by category. Create folders (physical or digital) for each category. Keep copies somewhere secure that your spouse does not control.
Digital scans stored in a secure cloud account or on a device only you have access to are prudent. If you are concerned about physical document access, a safe deposit box in your name only at a bank is an option.
Bring this organized documentation to your first meeting with your attorney and CDFA. The more organized you are, the less time (and money) you spend on document gathering during the formal discovery process.
What to Do If Documents Are Missing
You are legally entitled to financial disclosure in divorce. If your spouse controlled the finances and you do not have access to documents, there are several options:
- Request documents directly from financial institutions using account numbers you have
- Obtain tax transcripts from the IRS (Form 4506-T)
- Request Social Security records from SSA
- Use the formal discovery process in your divorce to compel document production
Your attorney can help obtain documents your spouse is unwilling to share voluntarily. Courts take financial disclosure obligations seriously.
[Listen to The Private Sessions — 3 free episodes, no email required -> /listen]
Leanne Ozaine is a Certified Divorce Financial Analyst and Financial Planner with over 20 years of experience. She went through her own divorce after 25 years of marriage. She works with both men and women nationwide. Listen to her free Private Sessions at fearlessdivorce.com/listen, or visit privateadvisory.co to work with her directly.