Even with limited financial knowledge, you can still achieve a fair divorce settlement by taking organized steps to gather information.
Starting to understand your family finances may feel overwhelming, but with professional guidance and systematic organization, you can effectively document your financial situation. A Certified Divorce Financial Analyst (CDFA) or accountant can help you prepare before meeting with your lawyer.
Begin by documenting all financial information you’re aware of, including:
- Banking details – chequing accounts, savings accounts, and credit cards
- Investment information – RRSPs, TFSAs, and other investment accounts
- Property details – mortgages, home equity, and other real estate
- Retirement assets – pensions, retirement savings, and benefits
- Outstanding debts – loans, lines of credit, and other liabilities
Many people discover they know more about their financial situation than they initially thought once they begin listing everything systematically. Your financial professionals will guide you through gathering any missing information to ensure a complete and fair assessment of your marital assets.