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Financial Documents to Assemble Before Mediation

Preparing for Divorce or Separation with Talaiya Safdar, Esq.

Going through a divorce or separation can feel overwhelming — especially when it comes to financial organization. Gathering the right documents early can make your mediation process smoother, faster, and more productive.

If you’re preparing for your first mediation session with Talaiya Safdar, this guide will help you understand what financial information to collect and why it matters. By having these materials ready, you’ll save time in session and ensure you and your spouse can make informed, fair decisions about property division, support, and other financial issues.

Below, you’ll find a comprehensive checklist of financial documents to assemble, whether your case involves children or not. You do not need to submit these to our office in advance — this list is for your personal organization and preparation.

A. Financial Document Checklist — Divorce or Separation (Without Children)

1. Income & Employment

Gather the following to document your income and employment:

  • 3 years of personal tax returns (Federal & State)

  • Most recent W-2s, 1099s, and K-1s

  • Recent pay stubs (minimum 3 months)

  • Business income statements & expense ledgers (if self-employed)

  • Year-to-date profit & loss statement and balance sheet (for business owners)

  • Documentation of bonuses, commissions, or deferred compensation

  • Social Security earnings statement (available at SSA.gov)

2. Real Estate (Homes, Investment Properties, Land, Timeshares)

Provide details for each property owned and attach supporting documents such as the deed, closing statement, current mortgage statement, and property tax bill.

Example Entry:

  • Property Address: 15 Elm Street, Scarsdale, NY

  • Type: Primary Residence

  • Date of Purchase: 01/15/2018

  • Purchase Price: $850,000

  • Current Estimated Value: $1,200,000

  • Mortgage / Lien Holder: Chase Bank

  • Original Loan Amount: $600,000

  • Current Payoff: $340,000

  • Title Holder(s): Both spouses

  • Source of Funds: 80% marital / 20% separate

  • Notes: Refinanced in 2022; cash-out of $50,000 for renovations.

Also include:

  • Mortgages, HELOCs, or liens on the property

  • Refinance details and cash-out amounts

  • Value at marriage for pre-marital or inherited property and any marital contributions

  • Details for gifts or inheritances, including source and approximate value

3. Bank & Cash Accounts

Include 12 months of statements for:

  • Checking, savings, and money market accounts

  • Certificates of deposit

  • Venmo, PayPal, or similar cash-holding apps

4. Investments & Retirement

List each retirement or investment account separately, noting marital and separate contributions. Attach supporting statements when possible.

Example Entry:

  • Institution / Account Name: Fidelity Investments

  • Account Type: 401(k)

  • Account Number (last 4): 1234

  • Date Opened: 03/15/2015

  • Value at Date of Marriage: $45,000

  • Contributions: Marital $200,000 / Separate $10,000

  • Current Value: $275,000

  • Value at Separation (if applicable): $260,000

  • Separate Property Claim: Yes / Partial

  • Notes: Rollover IRA portion traced to premarital asset.

Supporting Documents to Attach:

  • Brokerage and retirement account statements (12 months)

  • Pension summaries

  • Stock options, RSUs, or deferred compensation plan statements

  • Crypto or digital asset account summaries

5. Insurance

Gather:

  • Life insurance (owner, insured, beneficiary, cash value)

  • Disability, long-term care, and health insurance summaries

  • Auto and homeowner/renter insurance policies

6. Debts & Liabilities

Provide a detailed list of all debts, including purpose and whether they’re marital or separate. Attach recent statements.

Example Entry:

  • Creditor / Lender: Chase Bank

  • Type: Credit Card

  • Account Number (last 4): 1234

  • Date Obtained: 06/10/2020

  • Purpose: Household expenses

  • Incurred By: Spouse A

  • Original Amount: $10,000

  • Current Balance: $2,500

  • Marital or Separate: Marital

  • Notes: Joint card used for home renovations.

7. Business & Professional Interests

For each business or professional practice, provide:

  • Business name, entity type (LLC, Corp, etc.), and date formed

  • Ownership structure and approximate value

  • Description of business

  • Any separate property claims

Attach:

  • Entity formation documents

  • 3 years of business tax returns

  • Operating, shareholder, or buy-sell agreements

  • Valuations or appraisals (if available)

B. Financial Document Checklist — Divorce or Separation (With Children)

If children are involved, you’ll need all of the above plus additional child-related and household financial documents.

1. All Items from the “Without Children” List

2. Child-Related Financials

  • Childcare expenses (daycare, nanny, after-school programs)

  • School tuition & extracurricular costs (camps, lessons, uniforms)

  • Health insurance coverage and premium cost per child

  • Unreimbursed medical expenses (therapy, orthodontics, medication)

  • 529 or custodial college savings accounts

  • Special needs documentation or IEP/504 plans

3. Household & Lifestyle

  • Monthly household budget or expense log

  • Credit card statements showing family spending

  • Memberships or recurring subscriptions (clubs, gyms, digital services)

4. Tax & Support Records

  • Joint and individual tax returns (3 years)

  • Child tax credit and dependent care documentation

  • Proof of any support paid or received from prior relationships

5. Insurance & Beneficiaries

  • Health, dental, and vision policies listing dependents

  • Life insurance policies naming dependents

  • Children’s insurance cards or benefit summaries

6. Custody-Relevant (Optional)

  • School calendars, report cards, and attendance records

  • Parenting time logs or calendars

  • Travel documents or passports for children

Client Preparation Tips

  • Bring digital or paper copies — your mediator will help determine what’s relevant.

  • Organize into folders or cloud subfolders by category.

  • Include at least 12 months of statements for accounts and debts.

  • Optional: complete a Disclosure Index (fillable version available) to track what’s been produced and what’s pending.

Final Thoughts

Preparing your financial documents in advance helps make the mediation process more efficient and transparent. It allows both parties — and your mediator — to focus on meaningful discussion and problem-solving, rather than document gathering during the session.

If you have questions about which documents apply to your situation, or if you’d like assistance organizing them, reach out to Talaiya Safdar, Esq. for guidance.

This information is for general educational purposes only and does not constitute legal advice. Please consult with an attorney in your jurisdiction regarding your specific situation.