On the subject of divorce and how assets and liabilities are generally divided up, your attorney
will ask you for a a number of list of all your assets and liabilities that were accumulated throughout
your marriage. This can be achieved by means of a checklist-a
checklist that will assist when it comes to dividing up your assets and liabilities.
First, there is real estate. On this category, your attorney
should know when the property was purchased, the cost, the down payment cost, where the down payment came
from, the outstanding remains of the loan-which includes taxes and insurance and also the current 'fair
market value' of the property. Second, there must be information on the car or cars you
own. Information required on your cars will probably be: the year of the car, the make and
model, the license number or numbers, the fair market value and the balance-if any-that is owned.
Next, he or she will likely need to learn about your furniture and
appliances you both own, just like all of the household items, the price and sales receipts of all, garage
sale value and if the purchases were given as gifts. Life insurance policies must also be listed such as the name of the company, the
policy number or numbers, the value of the policy or policies, the cash value of the policies, name of
person or persons insured, outstanding loans, outstanding amounts and the basis for the loan and the
date.
Yet another item on
the list might be bank accounts and information such as the name of the bank, the type of accounts,
account numbers, the current balance, names on the account and the date when the account or accounts were
opened. Still another topic that needs to be on the list are any art supplies, sports equipment that the
two of your own. Above all, any business or businesses that you or your
spouse has an interest in, must also be on the list. With this category such information
as the date the business was obtained, the date of your marriage, the name of the business and other
information on shares purchased and when, are likewise needed.
In addition, other information you need to give to your attorney is if you provided your spouse with an
education, or if your spouse provided you with an education and along with that will be needed the dates
of when the education took place, what kind of education, your salary when your spouse was working on his
or her education and the amount of any income by you or your spouse and where the source of employment
came from.
Author Resource:-
Also, social security, retirement and alimony information will be
needed, as well as separate property information and a list of all your creditors and related information
on debts owed. For more information on how assets and liabilities are settled with a divorce, check out Atlanta GA divorce law firm and divorce law Alpharetta GA.
![[Valid RSS feed]](http://www.thearticleson.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites