Nothing lasts forever. Everything that starts must end. These words hold true for almost everything, but not necessarily so for relationships and marriages. Albeit they are not always made in heaven and differences between the involved parties can grow over time

When a relationship ends: Documents regarding financial circumstances that you must have

A split in a relationship, be it divorce or separation in marriages or de facto relationships is a tough time for both the parties involved and more so when children are caught between the crumbling marriage and find themselves among the ruins of the relationship. Amid these sensitive and emotionally challenging times, it’s quite easy and natural for the parties involved to lose their focus and clarity of mind.

But these are not times to lose focus, for there is long and arduous path of property settlement between the parties getting separated or divorced. In case of property settlement in family court, there are certain documents regarding all the financial activities that you have carried out like buying assets, taking out insurance policies or made investments, either jointly or by yourself etc. There are certain documents regarding financial circumstances you must keep or make copies of to facilitate the process of property settlements.
Here is the full list of documents regarding financial circumstances:

  • List of assets and their values owned by you or by your spouse, either individually or jointly
  • List of Liabilities owned by you or by your spouse, either individually or jointly along with the copies of most recent billings from the account
  • Copies of tax returns for the last three financial years
  • Superannuation member statements for last three years of yourself and your spouse
  • Payslips from 1 July of the current tax year, of you and your spouse(if you have them), but a minimum of two recent payslips
  • Account statements, of both you and your spouse, individually or jointly for the last twelve months
  • Current balance of accounts with any financial institutions, including but not limited to, savings, loan, and credit cards including account numbers, and in whose names the accounts are held
  • All the life Insurance policies along with other policy details (if any)
  • Registration certificates of all motor vehicles owned either by you or your spouse.
  • The addresses and Volume and Folio number
  • Copy of mortgage on your home and any other real estate
  • Copies of electricity, gas, council and water rates and other outgoings in relation to each parcel of real estate
  • If any parcel of real estate has been valued or appraised, provide copies of valuations or market appraisals.
  • Copy of your share holdings, and all other securities owned by you and your spouse, individually or jointly.
  • Copy of the trust deed and any amending deed and tax returns for the trust for the past three years.
  • Copies of the divorce order, applications, financial statements and affidavits, if either spouse was previously divorced, and/or involved in a court hearing.
  • Any other relevant and appropriate document containing information that will help establish your net worth, your spouse’s net worth, your joint net worth, your income, and your spouse’s income at the commencement of cohabitation and currently.

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