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5 types of documents that can help during divorce, asset division

On Behalf of | Jul 8, 2021 | Divorce

Ending a marriage involves a considerable amount of untangling. Arkansas couples who wish to divorce will need to untangle their finances, their debt liabilities, their childrearing responsibilities, their assets and much more. For many, figuring out who gets what and who will remain responsible for which financial obligations are some of the trickiest matters to settle. 

In order to work toward an asset division outcome that best suits the situation, it is essential that all of the information is available and accessible. This means that those going through the divorce will likely have to do some digging to ensure that they have the necessary financial documents that will allow them to understand their marital finances and assets as well as possible. These documents can also help their legal counsel see the situation as a whole. 

A few examples of documents that may come in handy during a divorce case include: 

  • Ownership documents, such as titles and deeds, that show possession of vehicles and real estate 
  • Life insurance policy information 
  • Documents relating to income, which could include paystubs, tax returns, spouse’s paystubs and business expense information, if applicable 
  • Paperwork for joint accounts, including checking, savings and credit accounts 
  • Records showing marital debt that has been accrued 

Having these documents and records on hand can make accessing financial information much easier. They can also help act as a reference in case one party attempts to provide information that does not line up with the records. Property division and other aspects of divorce in Arkansas can become contentious, and being prepared could go a long way in helping matters move forward smoothly.