Divorce Information and Property: It's All About the Money 2

8. Divorce Property document: Prior to meeting with lawyers, your spouse, or the court, it is helpful to have a clear picture of the things of value in the marriage. Who has what? Make a list. Below is a sample checklist that scratches the surface of the marital property possibilities. Plug in an H or W next to the husband or wife’s separate property. Be thorough. Account for everything. Omit to your peril.

Assets:

Cash Holdings (how much at separation?) ______________________________________

Bank Accounts:

Checking (balances/under whose name?)_______________________________________

Savings (balances/under whose name?) ________________________________________

CDs (balances/under whose name?) ___________________________________________

Money Market (balances/under whose name?) ___________________________________

Credit Union (balances/under whose name?) ____________________________________

Vehicles:

Make ________________________________

Model _________________________________

Year _________________________________

Miles __________________________________

VIN __________________________________

Net Value ________________________________

Registered Owner _________________________

Brokered Accounts/Mutual Funds:

Name and Address of Broker ___________________________ ________________________

Account Name/Number __________________ ________________________

Purchase date of securities _______________

Business or Partnership Interests:

Name and Address of Business ________________ ___________________________

Type ________________________________

Percentage of Ownership ___________________________________

Sales Figures ______________________________________

Fair Market Value ___________________________________

Life Insurance:

Name of Carrier ____________________________________

Policy Number _________________________________

Type of Policy (whole life/term/universal) ______________________________

Name of Insured ________________________________________

Premiums __________________________________________

Face Amount ____________________________________________

Cash Surrender Values _________________________________

Balance Due _____________________________________________

Real Property (family home and vacation home):

Name on Mortgage _____________________________________

Title (joint tenants, tenants in common, community) ______________________________

Amount Due _____________________________________________

Net Equity _________________________________________

Refinancing _________________________________________

Other Types of Real Estate (land, industrial, commercial, rental, et. al.) ___________________________________

Retirement Benefits:

Pensions (employer, employee, name of plan, account number, percentage vested, beneficiary) ___________________________________

401(k) or Keogh (name of plan, account number, percentage vested, beneficiary) _____________

Military or Federal Retirement _______________________________________

Social Security ______________________________________________

Profit Sharing _____________________________________

IRAs/SEP Accounts:

Name of Institution ___________________________________

Account Name and Number ______________________________

Beneficiary __________________________________________

Account Balance_______________________________________

Miscellaneous:

Lawsuit Settlements ___________________________

Lawsuits Resulting from Spouse’s Actions ________________

Perks (company car, event tickets, club memberships, etc.) ___________

Workers Compensation Disability Award _____________________

Accumulated Vacation Pay ____________________

Personal Property:

Furniture __________________________________________________________

Jewelry _____________________________________________________

Tools ___________________________________________________________

Original Paintings/Art Work ___________________________________________

Antiques ____________________________________________________

Collections (guns, coins, stamps, etc.) _____________________________________

China, Silver, Crystal ___________________________________________

Appliances _____________________________________

Camping or Sport Equipment _____________________________________

Electronic Equipment _____________________________________

Books _____________________________________

DVDs/CDs _____________________________________

Glassware/Household Items _____________________________________

Lawn/Garden Tools _____________________________________

DEBTS:

Credit Cards Name of Lender ______________________________________

Account Number ________________________

Current Balance ____________________________________

Personal Loans ______________________________________

Home Equity Loans ______________________________________

Loan Debts to Friends ______________________________________

Unpaid Bills (i.e., utility) ______________________________________

Loans against Life Insurance or Pension Assets ______________________________________

Student Loans ______________________________________

Mortgage ______________________________________ _____________________________ ___________________________

+The next step after inventorying your property is to assign a value to each. In some cases, that is fairly easy: use a bank statement, a brokerage or retirement account statement or "Blue Book" for used vehicles as a reference. Others are more difficult to value, such as a home or business. With those assets, you may need to hire a qualified professional who does business or house appraisals. And still others you may "guesstimate" or divvy up on an informal basis. Accurate valuations are important in order to divide items fairly. For loans, if you don't know what you owe, call the bank, credit card carrier, etc..

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