Dealing with All the Documents
What to do with all those piles of paper.
Now that you're done with this process, you're accumulated a lot of paper and files, how do you prioritize what documents you still will need to get your hands on quickly and what you can put away . As much as you'd like to, resist the urge to light a match to it all!
#1 From the pile of papers, pull out these documents:
- Your Final Separation Agreement (may be multiple documents).
- Your Final Divorce Decree
- Any account statements for assets you received ( including pension plans).
- Any deeds or statements for real estate you received.
- Statements for any joint or individual credit cards.
#2 Sort the remaining papers into these categories:
- Lawyer letters, filings and documents
- Accounts – bank, investment, etc.
- Real estate documents
- Insurance matters
- Income items – pay stubs, etc.
- Miscellaneous
Then, put all these neat file folders into a big box and get the box out of sight.
#3 Create permanent files for:
- Parenting plan/ child support details
- Spousal support details
Better yet, create a binder you can have on a shelf (to access easily at any time). You'll likely need these items, both now and in the future.
Parenting plan/ child support and spousal support details would be included in your final separation agreement. You may want to make copies of the relevant different sections to find it easier to refer to on an ongoing basis as many of these issues may be up to review and adjustment from time to time.
In addition, this may be a good place to create files for the following
- Passport, birth certificate, social insurance card
- Life insurance policies
- Homeowners and auto insurance policies
- Any other insurance policies, i.e. Long Term Care, disability, etc.
- Real estate and mortgage documents
- Car titles
- Any trust documents
#4 Congratulate yourself on a hard job well done!
This article is made available to you from Women in Divorce Financial.
Eva Sachs is the founder of Women in Divorce Financial. She is a Certified Divorce Financial Analyst (CDFA™), has her CFP™ designation and is a member of the Institute for Divorce Financial Analysts.
She can be reached at esachs@womenindivorcefinancial.ca or by visiting www.womenindivorcefinancial.ca.
