Whether you do a DIY divorce and complete the Minnesota state court’s fill-in-the-blank forms or hire an attorney, a great deal of information is needed to start and complete a Minnesota divorce. So, let’s get started.
Here’s a chart showing various steps that could occur in a divorce:
It is important to collect the following items for the divorce process. You will need copies of:
- Paystubs for the past three months. If self-employed, obtain a copy of the profit and loss statement for your company’s year so far.
- Any employment bonuses and/or commissions for the past twelve months.
- Each party’s individual federal and state tax returns for the past three years including any W-2 or 1099 forms.
- Any federal and state business tax returns for the past three years.
- The prenuptial agreement, if one exists.
- Any partnership agreements or employment contracts.
- The most recent statement for a 401(k), Roth or traditional IRA, pension or other retirement plan.
- If a spouse had a retirement account, pension, bank account, or other specific assets prior to the marriage and he or she wants to pursue keeping that specific asset and/or its non-marital value in the divorce, Minnesota law says the spouse has the burden of proof to show what that asset was worth at the time of marriage. Thus, the law requires that the spouse provide documentation of the statement for the month of marriage showing how much money he or she had in a retirement account, pension, bank account, or other assets at the time of marriage.
- The legal description of any real estate owned by one or both parties.
- A market analysis or appraisal for any real estate the parties own.
- A list of personal property, household goods, and furnishings of value that need to be divided between the spouses.
- If a spouse owned real estate prior to the marriage that he or she still owns at the time of the divorce, Minnesota law says the spouse has the burden of proof to show what the real estate was worth at the time of marriage, what the mortgage was at the time of marriage, what the real estate is worth today and what the mortgage balance is today. Those numbers determine what the real estate value has been during the marriage. The documentation for these four balances must be available at the time of the divorce.
- The past three months of statements for debts not paid in full each month and amassed during the marriage, regardless of whether those debts are in one or both parties’ names.
- Any bank statements for the past three months, no matter whether the accounts are in one or both parties’ names.
- The valuation of any cars, SUVs, trucks, motorcycles or other vehicles using www.nada.com or www.kelleybluebook.com. Follow the link for used consumer vehicles. Specify the year, make, model, and features of the vehicles and print the valuations.
- Documentation for stocks, bonds and cryptocurrencies.
If you have children, you’ll also need copies of the following:
- Information from an employer or health insurance carrier showing the monthly premium for single, family and employee-plus-one health insurance coverage.
- Information from an employer or health insurance carrier showing the monthly premium for single, family and employee-plus-one dental insurance coverage.
- Children’s daycare fees for the past three months.
Gathering these documents, while time intensive, makes the process much smoother and faster and helps eliminate missing important assets and debts and legal issues which could cause the divorce to re-open down the road.