General information | Yes | No | N/A |
---|---|---|---|
1. Has relevant personal information been gathered? • Each spouse’s name, date of birth, and Social Security number • Names and birth dates of children • Date and place of marriage and length of time in present state • Information about prior marriages and children • Date of separation and grounds for divorce • Current occupation of spouses and name/address of employers • Education and degrees of each spouse • Name, address, and telephone number of attorney |
▢ | ▢ | ▢ |
2. Has financial situation been assessed? • Each spouse’s name, date of birth, and Social Security number • Names and birth dates of children • Date and place of marriage and length of time in present state • Information about prior marriages and children • Date of separation and grounds for divorce • Current occupation of spouses and name/address of employers • Education and degrees of each spouse • Name, address, and telephone number of attorney |
▢ | ▢ | ▢ |
PROPERTY SETTLEMENTS | Yes | No | N/A |
---|---|---|---|
1. Does prenuptial agreement exist? | ▢ | ▢ | ▢ |
2. Do spouses reside in a community property state? | ▢ | ▢ | ▢ |
3. Have all assets been listed, valued, and classified as joint or separate? |
▢ | ▢ | ▢ |
4. Have the tax bases of all assets been determined? | ▢ | ▢ | ▢ |
5. If assets will be transferred or sold, have tax consequences been calculated and explained to client? |
▢ | ▢ | ▢ |
6. Have loans and other liabilities on the properties (or otherwise) been listed and considered? |
▢ | ▢ | ▢ |
7. Is there a family business? | ▢ | ▢ | ▢ |
ALIMONY AND CHILD SUPPORT | Yes | No | N/A |
---|---|---|---|
1. Have tax consequences of classifying support as alimony or child support been reviewed? | ▢ | ▢ | ▢ |
2. Has physical custody of children been determined? | ▢ | ▢ | ▢ |
3. Has legal custody of children been determined? | ▢ | ▢ | ▢ |
4. Have visitation parameters been established for the noncustodial parent? | ▢ | ▢ | ▢ |
5. Will alimony be paid? | ▢ | ▢ | ▢ |
MARITAL HOME | Yes | No | N/A |
---|---|---|---|
1. Will home be transferred to either spouse as part of settlement? | ▢ | ▢ | ▢ |
2. If yes, has cost basis been reviewed for improvements? | ▢ | ▢ | ▢ |
3. Has amount of outstanding mortgage been calculated? | ▢ | ▢ | ▢ |
4. Will the principal residence be sold to a third party? | ▢ | ▢ | ▢ |
5. If yes, has the tax cost (if any) been computed? | ▢ | ▢ | ▢ |
RETIREMENT PLANNING | Yes | No | N/A |
---|---|---|---|
1. Have retirement plans been listed and interests in retirement plans been reviewed? | ▢ | ▢ | ▢ |
2. Will the divorce decree provide a payout from the plan? If so, will a qualified domestic relations order (QDRO) be used? | ▢ | ▢ | ▢ |
3. Should beneficiary designations be changed? | ▢ | ▢ | ▢ |
4. Will any IRS penalties apply? | ▢ | ▢ | ▢ |
5. Can retirement money be rolled over to IRA? | ▢ | ▢ | ▢ |
TAX PLANNING | Yes | No | N/A |
---|---|---|---|
1. If already divorced, was divorce finalized by year-end? | ▢ | ▢ | ▢ |
2. If still married at year-end, agree to file jointly? | ▢ | ▢ | ▢ |
3. Have joint filing risks been discussed? | ▢ | ▢ | ▢ |
4. Has separate maintenance decree been obtained to permit filing as unmarried or head of household? | ▢ | ▢ | ▢ |
5. Have head of household conditions been met? | ▢ | ▢ | ▢ |
5. Has it been decided which spouse will get dependency exemption? | ▢ | ▢ | ▢ |
other | Yes | No | N/A |
---|---|---|---|
1. Should will and trust be changed? | ▢ | ▢ | ▢ |
2. Should insurance policy beneficiaries be changed? | ▢ | ▢ | ▢ |
3. Should banks and other creditors be notified of divorce and signatures changed? | ▢ | ▢ | ▢ |
4. Will either spouse’s health insurance plan cover the children post-divorce? Cover spouse? | ▢ | ▢ | ▢ |
5. Has budget been revised to account for changes in income and liabilities? | ▢ | ▢ | ▢ |
5. Does credit need to be repaired or established? | ▢ | ▢ | ▢ |
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