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Getting your paperwork in order can help with the divorce process

Getting your paperwork in order can help with the divorce process

Coming to terms with the dissolution of your marriage is not easy, but the divorce process doesn’t have to be unnecessarily difficult. Both you and your spouse will have to negotiate and probably compromise around key issues such as property division and child custody. 

To get the most out of negotiations and ensure that they are concluded efficiently, it is in your best interests to gather any relevant paperwork. To reach a fair settlement, all parties involved in the negotiations will need the fullest picture of your financial circumstances, and documentation can offer this. Outlined below are some of the key documents you should have close to hand as you embark on divorce negotiations. 

Your tax returns 

Obtaining a divorce will have implications on your taxes. To provide a clearer picture for the courts, it can be beneficial to offer further information on your tax returns over the last few years. 

Details of any marital agreements 

Before you entered the partnership, you and your spouse may have signed a prenuptial agreement. An effective prenuptial agreement can outline clearly how the divorce is to proceed, which can make the process quicker and less painful for both parties. However, not all prenuptial agreements are watertight, and if they are grossly unfair or invalid in some other way, a challenge can be brought against them. 

Information related to properties 

Real estate deeds offer a clear picture of who has ownership rights over a property. They also help to give an indication of how much a property is worth, which is important when dividing assets during a separation. Having the most recent mortgage statements at hand will also indicate how much equity value there is as well as how much debt is still outstanding. 

To get the most favorable divorce settlement, you need to provide as much information as possible. As you navigate the procedure, you should always remember your legal rights as a spouse in Michigan

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