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Financial documentation during divorce

Any Connecticut resident who has ever gone through a divorce knows how far-reaching the financial implications can be. While the thought of a divorce itself was once far-fetched, other things can often happen during a divorce that a person would certainly never have imagined. Many of these things can seriously and negatively impact a person's financial situation both immediately and for the future.

For these reasons, divorcing spouses should make it a priority to collect and maintain very detailed financial records. At a minimum, gathering up to even four years' worth of financial statements and records is recommended. These records should be for any assets or debts held in only one spouse's name as well as those assets or debts held in both spouse's names together. This type of information may be valuable if one spouse needs to prove the other spouse made certain purchases either before or after the date that the divorce was initiated. Such distinctions can play directly into the outcome of a property division settlement.

Marriage is very much a contract that binds two people together financially. The actions of one person may well leave the other carrying debt he or she had not intended to. When a divorce has been started, separating these financial ties as soon as possible may help to prevent some issues down the road.

When questions about how to handle certain accounts or other assets during a divorce, Connecticut residents may find it helpful to talk with an experienced family law attorney. This offers insights into things a spouse may not think of on his or her own.

Source: USA Today, "4 ways to protect your finances during a divorce," Shawn Leamon, Jan. 28, 2017

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  • Hi Yuliana and Attorney Prince, Thank you so much for taking time out of your busy day to meet with me. I really appreciated how compassionate you were while listening to my situation, even through my tears. Thank you so much for sharing such valuable information with me. I left feeling very hopeful that when the dust settles, I’ll be ok.
  • Wendy helped guide us through a very difficult and emotional process and was really able to provide an even and fair account for both parties. It's quite evident in her expertise in this area but the way she was able to make you feel safe and secure in a very insecure time goes far beyond her legal prowess. If the two parties are really willing to cooperate and collaborate, she's there to help gain the best possible solution for all involved, especially if there are children.
  • Regardless of how committed one is to the fact that divorce may be imminent and necessary, it is truly one of the most emotional and stressful situations one can experience. It can also be daunting. Wendy has a remarkable ability to cut through the noise and help you focus on the big picture while drilling down on what is most pertinent to your particular situation., they are a formidable team who work collectively with your best interests in mind.
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