When filing for a divorce, each spouse must create a financial affidavit. This relatively simple document includes information on both spouses’ debts, assets, and income levels. It is designed to provide a baseline for decisions regarding child support, alimony, and asset division. The name of the document and the scope of the statement vary between …
Dividing assets after a divorce may include dividing the proceeds of a retirement plan. Separating the proceeds of a retirement plan is more difficult than distributing other assets. They can have significant tax consequences when drawn down upon earlier than expected. The instructions for distribution and the terms of any division must be communicated to …