What important financial information will my attorney need?

Planning your financial life after a divorce begins with an analysis of your predivorce financial situation and holdings. Critical information includes how much you have earned as a couple over the past five years and how much debt you have. You should also: determine how much money you have in all of your financial accounts; understand how the money is allocated among stocks, bonds and cash; and know who owns each account if they are in separate names. Equally important is an understanding of
how much it costs on an annual basis to maintain your lifestyle: monthly bills, homes, vacations and other expenses.

Rock A. Tate is a Financial Advisor, CERTIFIED FINANCIAL PLANNER™ at The Tate Group at Morgan Stanley Smith Barney.