A divorce planning worksheet is a single working document where you pull together every piece of personal, financial, and legal information your attorney or mediator will ask for at the first meeting. Doing this before the consultation saves money, because attorneys bill for the time they spend chasing down account numbers, statements, and tax returns. It also forces you to see the full financial picture of your marriage in one place, which puts you in a stronger position whether the case settles or goes to trial.
Personal and Vital Records
Start with what appears on every court filing: full legal names of both spouses as they appear on government-issued ID, dates of birth, Social Security numbers, and current addresses. Small inconsistencies cause delays, so if your name on your driver’s license doesn’t match your birth certificate, write down both versions and let your attorney sort it out early.
Get a certified copy of your marriage certificate from the vital records office in the state where you were married.1USAGov. How to Get a Copy of a Marriage Certificate or a Marriage License If a prenuptial or postnuptial agreement exists, note the date it was signed and where the original is kept. Do the same for any prior court orders affecting either spouse, including restraining orders, prior custody orders, and bankruptcy filings. Add passports, immigration documents if either spouse is not a U.S. citizen, and any name-change paperwork.
Record the date of your physical separation. Some states use that date instead of the filing date to decide which assets count as marital property and when financial responsibility for new debts ends, so getting it on paper early matters.
Marital and Separate Assets
The asset inventory is the most time-consuming part of the worksheet and the part that matters most. Property acquired during the marriage is generally marital property and subject to division, while property one spouse owned before the marriage is typically separate.2Cornell Law Institute. Marital Property The line blurs more often than people expect. A house one spouse owned before the wedding can become partially marital if joint funds paid the mortgage or funded improvements.
Real Estate and Vehicles
For each piece of real property, record the address, whose name is on the deed, the current mortgage balance, and an estimated market value. A professional appraisal is usually worth the cost on the marital home. If you’re thinking about keeping the house, check now whether you can qualify to refinance on your income alone; people often overlook this until it’s too late.
For vehicles, list make, model, year, VIN, loan balance if any, and fair market value. Jewelry, art, furniture, and collections should be listed with estimated values, and items worth more than a few thousand dollars may justify an independent appraisal.
Bank, Brokerage, and Retirement Accounts
List every checking, savings, money market, brokerage account, and certificate of deposit, with the institution name, account number, and most recent balance. Include accounts in only one spouse’s name; if the account was funded during the marriage, it is likely marital property regardless of whose name is on it.
Retirement accounts need extra care because dividing them incorrectly triggers taxes and penalties. For each 401(k), 403(b), pension, or IRA, record the plan name, account number, current balance, and the date contributions started. Request a Summary Plan Description from each employer-sponsored plan’s administrator; that document spells out the plan’s rules for distributions and survivor benefits.3eCFR. 29 CFR 2520.102-3 – Contents of Summary Plan Description Dividing a 401(k) or pension requires a Qualified Domestic Relations Order, a court order the plan administrator must review and approve before releasing funds to the non-participant spouse.4U.S. Department of Labor. QDROs Chapter 1 – Qualified Domestic Relations Orders: An Overview Flag every retirement account on the worksheet so the QDRO work can be scoped early. If the order doesn’t comply with the plan’s rules, the administrator rejects it and you go back to court for a corrected one.5U.S. Department of Labor. Qualified Domestic Relations Orders Under ERISA – A Practical Guide to Dividing Retirement Benefits
Digital Assets and Cryptocurrency
Cryptocurrency, NFTs, online business accounts, and other digital holdings are marital property if acquired during the marriage, but they are harder to find and value than a bank account. For each digital asset, record the type (Bitcoin, Ethereum, and so on), the exchange or wallet where it is held, and the approximate current value. Because prices swing hard, the valuation date matters; courts typically use the value at filing or at trial. Online businesses, e-commerce revenue, and content-creation income should be documented with platform names, login credentials, and recent earnings statements.
Business Interests
If either spouse owns part or all of a business, list the business name, ownership percentage, entity type (LLC, corporation, partnership), and the most recent financial statements. A formal business valuation from a certified appraiser is almost always necessary when a business is involved, so note on the worksheet that one will likely be needed.
Debts and Liabilities
Assets only tell half the story. Catalog every outstanding debt: mortgages, car loans, student loans, credit card balances, personal loans, medical bills, and tax obligations. For each one, record the creditor, account number, total balance, monthly payment, interest rate, and whether the account is joint or individual.
Pull a full credit report from all three nationwide bureaus: Equifax, Experian, and TransUnion. Federal law entitles you to a free report from each bureau every 12 months through AnnualCreditReport.com.6FTC. Free Credit Reports The report often surfaces accounts one spouse didn’t know about and gives you a baseline record of what existed at separation.
Joint debt is where many people get burned after the divorce is final. A decree can assign a joint credit card to your spouse, but the creditor isn’t bound by the decree. If your name is still on the account and your ex stops paying, your credit takes the hit. Flag every joint account on the worksheet so your attorney can address options like paying off and closing the account, refinancing into one spouse’s name, or writing indemnification language into the settlement.
Income and Monthly Expenses
Courts need a clear picture of what each spouse earns and spends. Gather pay stubs for at least the last two to three months, plus tax returns and W-2 or 1099 forms from the prior two to three years. If either spouse is self-employed, add profit and loss statements, business tax returns, and bank statements showing business deposits. Most states require both parties to file financial disclosures under penalty of perjury, and incomplete or inaccurate disclosures can draw sanctions.
The expense side takes more work than people expect. Start with fixed costs: mortgage or rent, car payments, insurance premiums, minimum debt payments. Then variable costs: groceries, utilities, gas, clothing, personal care, entertainment. Add annual or irregular expenses like property taxes, car registration, and holiday spending, divided by twelve for a monthly figure. Give healthcare its own line items for premiums, copays, prescriptions, and out-of-pocket costs.
This picture does two jobs. It supports or defends against spousal support claims by showing need and ability to pay. It also builds a realistic post-divorce budget so you know what you actually need to sustain yourself. People often underestimate their living costs and agree to settlements that leave them short within months.
If either spouse has recently quit a job, cut hours, or taken a lower-paying position, courts may attribute income based on earning capacity rather than actual earnings, looking at work history, education, skills, and local job opportunities. Note any recent employment changes and the reasons on the worksheet, and keep pay stubs, termination letters, and job search records.
Tax Details to Capture Now
Divorce touches nearly every line of your tax return, and ignoring tax consequences during negotiation can cost thousands. Three items earn their own place on the worksheet.
Filing Status Depends on December 31
Your filing status depends on whether you are legally married on December 31 of the tax year. If the divorce is final by that date, you file as single, or as head of household if you have a qualifying dependent. If you are still legally married on December 31, you file as married filing jointly or married filing separately.7Internal Revenue Service. Publication 504 (2025), Divorced or Separated Individuals The timing of when your decree becomes final can shift thousands of dollars in tax liability, so note the anticipated finalization date and discuss the impact with your attorney.
Carryover Basis on Transferred Property
Under federal law, transfers of property between spouses during marriage or incident to divorce are tax-free; no gain or loss is recognized at the time of transfer. The receiving spouse takes over the transferring spouse’s original cost basis.8Office of the Law Revision Counsel. 26 USC 1041 – Transfers of Property Between Spouses or Incident to Divorce To qualify, the transfer must happen within one year after the marriage ends or be related to the divorce.
The carryover is the detail that catches people out. If your spouse transfers stock they bought for $10,000 that is now worth $100,000, you inherit their $10,000 basis and owe capital gains tax on the $90,000 when you eventually sell. A $100,000 asset with a low basis is worth less after tax than a $100,000 asset with a high basis. Track acquisition cost alongside current value for every major asset on the worksheet.
The Home Sale Exclusion Clock
When the marital home is sold, each spouse can exclude up to $250,000 in capital gains from income, or up to $500,000 if the sale happens while still married and filing jointly. To qualify, you must have owned and used the home as your principal residence for at least two of the five years before the sale.9Office of the Law Revision Counsel. 26 USC 121 – Exclusion of Gain From Sale of Principal Residence If one spouse moves out during a long divorce, that spouse’s two-year use clock keeps ticking, and selling too late can disqualify them from the exclusion. Record the date each spouse moved out, the original purchase price, and the cost of any major improvements, because all of it feeds the taxable gain calculation.
Children: Expenses and Parenting Plan
If minor children are involved, the worksheet has to go well past listing names and ages. Courts decide custody and support based on detailed information about the children’s daily lives, and the parent who arrives with organized documentation has a real advantage.
Document every recurring cost for the children: health insurance premiums, copays, dental and vision expenses, prescriptions, therapy or counseling, school tuition or fees, tutoring, school supplies, childcare and after-school programs, extracurriculars, and summer camps. For each one, note the annual or monthly cost and which parent currently pays. Courts use this level of detail to set child support, and vague estimates invite disputes.
Most states require divorcing parents to submit a parenting plan covering both time and decision-making. Start sketching your positions on the key components:
- Decision-making authority for medical care, education, religious upbringing, and extracurriculars: joint or by one parent.
- Regular custody schedule for weekdays, weekends, and overnights during the school year and summer.
- Specific allocation of each holiday, spring break, winter break, and summer vacation, including pickup and drop-off times.
- Transportation and exchanges: who drives, where exchanges happen, how costs are split.
- A method for resolving future disagreements about the plan without going back to court, such as mediation.
Write down each child’s current daily schedule, school, teachers, pediatrician, dentist, therapist, and any other important adults in their life. If a child has special needs (medical, educational, or behavioral), those needs and associated costs belong on the worksheet because they feed directly into custody arrangements and support calculations. The more specific your proposal, the less room there is for extended negotiation or court intervention.
Insurance and Beneficiary Designations
If one spouse is covered under the other’s employer-sponsored health plan, that coverage ends when the divorce is final. The covered spouse can continue coverage for up to 36 months through COBRA, but you must notify the plan administrator within 60 days of the divorce. Miss that window and the opportunity disappears.10Office of the Law Revision Counsel. 29 USC 1166 – Notice Requirements11U.S. Department of Labor. FAQs on COBRA Continuation Health Coverage for Workers COBRA premiums are expensive, since you pay the full cost plus a 2% administrative fee, so put the current monthly premium on the worksheet and note who will bear that cost.
Record every insurance policy covering either spouse or the children: health, dental, vision, life, disability, auto, homeowners or renters, and umbrella policies. Include the policy number, carrier, monthly premium, and policyholder. Many standing orders issued at the start of divorce proceedings prohibit canceling existing insurance, so knowing what’s in place protects both parties.
Beneficiary designations are where a quiet mistake can surface years later. Retirement plan beneficiary designations are governed by federal law, and the plan document controls who receives the money, not your divorce decree and not your will. Name your spouse as beneficiary of your 401(k) during the marriage and never update it, and your ex-spouse may receive those funds when you die regardless of what the decree says.12U.S. Department of Labor. Current Challenges and Best Practices Concerning Beneficiary Designations in Retirement and Life Insurance Plans List every account or policy with a beneficiary designation (retirement plans, life insurance, transfer-on-death brokerage accounts, payable-on-death bank accounts) with the current named beneficiary, so you can update them as soon as the decree allows.
One date is worth tracking even if it feels distant. If your marriage lasted at least 10 years, you may be eligible to collect Social Security retirement benefits based on your ex-spouse’s earnings record, provided you are currently unmarried and at least 62. Claiming on an ex-spouse’s record doesn’t reduce their benefits.13Social Security Administration. More Info: If You Had a Prior Marriage If your marriage is approaching the 10-year mark, that date belongs on the worksheet because it can significantly affect your retirement income.
Protecting the Financial Status Quo
The worksheet also documents the financial status quo so nothing disappears between now and the final decree. Several practical steps belong on it as action items.
Open individual bank and credit card accounts in your own name if you don’t already have them, so you have access to funds regardless of what happens to joint accounts. Note the date you opened each new account and any amounts transferred, because courts scrutinize financial moves made during divorce proceedings.
Many states impose automatic financial restraining orders when a divorce petition is filed, prohibiting both spouses from selling or hiding assets, running up unusual debts, or canceling insurance. Even in states without automatic orders, judges routinely issue temporary orders with similar restrictions. Document the balances of all accounts as close to the filing date as possible and keep copies of recent statements. That snapshot becomes your baseline if the other spouse later claims assets were spent or depleted before filing.
Change passwords on personal email, social media, and any financial accounts held solely in your name. Note any shared digital accounts (streaming services, cloud storage, photo libraries), since these sometimes hold financially relevant information.
Handing the Worksheet to Your Attorney
A completed worksheet lets your attorney draft the initial petition and prepare financial disclosures without billing hours to track down basics. Most family law firms accept documents through a secure client portal, though organized physical copies work fine for an initial consultation. Either way, bring supporting documents with it: copies of deeds, account statements, tax returns, insurance policies, vehicle titles, and the prenuptial agreement if one exists.
The worksheet also feeds the mandatory financial disclosure process. In most states, both spouses must exchange detailed financial information under penalty of perjury early in the case, covering income, expenses, assets, and debts. Having that information organized before the disclosure deadline lets your attorney focus on strategy: identifying which assets are worth fighting over, which debts should be allocated to which spouse, and where the opposing party’s disclosures don’t add up. The more complete your worksheet, the less likely you are to be surprised by something your spouse raises and the more likely you are to reach a resolution that reflects the full financial picture of the marriage.