Divorce can be a lengthy process, especially when you and your spouse disagree on how to divide your assets.
Whether you and your spouse pursue a collaborative divorce or you need to go through litigation, you will very likely need to exchange some records to determine how to divide your assets. Records of your assets can be useful but can also contain information you do not want to disclose.
Here’s what you should know about the documents and records you may need to provide during a divorce.
They need some access
While it may seem intrusive, there is a certain amount of access your spouse (and their attorney) will need to move through the divorce proceedings. Your spouse’s attorney may ask for documents such as:
- Financial records for your business
- Personal financial statements
- Statements for assets like boats, cars and vacation properties
As you work on settling your divorce agreement, these documents can help your attorneys and the court determine how to divide your assets.
Keeping the information confidential
Often, the part that makes spouses nervous about granting access to financial records is the idea that the other spouse could use the information against them. Whether you have nothing to hide or a substantial amount of information you want to keep secret, you may still want to keep the contents of your records private.
It is essential to consider a nondisclosure agreement for your divorce. The contract should include guidelines for access to your records and what happens to any copies (digital or paper) after the divorce is finalized. A nondisclosure agreement should also address what will happen if your spouse makes an unauthorized disclosure of your personal information.