Print This Document To Win Your Divorce Case (Pt. 1)

Print This Document To Win Your Divorce Case (Pt. 1)

balance sheet

The best thing you can do to prepare to win your divorce case is to arm yourself with as much information as possible. We recommend printing this article and using it as a guide for discussion with your divorce attorney if you've either been sued for divorce or initiated the divorce yourself.

Balance Sheet

This article is designed to make sure you understand how critical the Balance Sheet is when it comes to winning your divorce case. The balance sheet focuses on valuing, distributing, and dividing all marital assets and liabilities.

 Here are the two key steps to complete the #1 document in your entire divorce case:

  • List all of the marital assets on a piece of paper that is worth more than $500 and put the current value next to each.
  • Remember, marital assets are defined as property purchased/accumulated during the time of marriage.
  • For example, the house – $350,000, your Toyota Camry – $12,000, your wife’s 401k – $23,000.
  • At this time, do not include your personal property such as clothes and jewelry unless the item has a value of over $500 and the value can be proven.
  • Do not include the IRA that you had before the marriage and that has not been touched since (that is a separate property that should be listed as such).
  • Add everything up.
  • List all of the marital debts on another piece of paper.
    • For example, your Visa card balance owed – $3,400, a car loan – $2,900, your spouse’s medical bills.
    • Again, do not list debts that you had before the marriage (a loan from Grandma for college that you are still paying back is a separate debt and should be listed as such).
    • Add them up.

Why is the balance sheet the #1 most important document in every property only case? Simple. In every case, the balance sheet is exactly what the judge uses to determine an equitable division of assets and liabilities – what you get and what your spouse gets.

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