When going through a divorce, gathering your financial documents is an important step. These records give a clear picture of your assets, debts, income and expenses.
Courts use this information to help divide property, determine support and ensure a fair outcome.
What financial documents are required?
Each spouse must complete a Verified Financial Information Form (MC 408) in Michigan. This includes detailed information on:
- Income from all sources
- Bank accounts and balances
- Real estate, vehicles, and other property
- Retirement accounts and investments
- Monthly expenses
- Debts and liabilities
In addition to the form, supporting documents are usually needed. These often include tax returns, recent pay stubs, mortgage statements, credit card bills, bank statements and retirement account statements.
Why these documents matter
The court relies on accurate financial information to divide marital property and decide spousal or child support. Without these records, it becomes harder to reach a fair resolution. Full disclosure is required under Michigan law. Hiding assets or giving false information can lead to penalties and affect the final settlement. These documents also help both spouses understand the full financial picture. This can support informed decisions during negotiations.
Many people find that keeping financial records in one place helps make the divorce process less stressful. Some choose to use folders or digital files to separate documents by type, such as income, expenses, assets and debts. Others find it helpful to keep both paper and electronic copies, especially for tax returns or account statements.
It can also be useful to check that documents are up to date and include details like dates and account numbers. Keeping track of new statements or changes in income may make it easier to complete required forms or respond to questions during the process.
Seeking legal guidance early can help you be as prepared as possible.