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Divorce Financial Checklist

30 essential steps to protect your finances before, during, and after divorce. Don't leave money on the table.

30
Action Items
4
Week Timeline
$50K+
Average Savings

Your Complete Divorce Financial Checklist

1Gather Financial Documents (Week 1)

  • Collect last 3 years of tax returns for both spouses
  • Obtain statements for all bank accounts (joint and individual)
  • Gather investment account statements (RRSPs, TFSAs, non-registered)
  • Locate mortgage documents and property assessments
  • Find all credit card statements and loan documents
  • Collect pay stubs and employment contracts
  • Locate pension statements and benefit summaries
  • Gather business financial statements if self-employed

2Protect Your Credit & Assets (Week 2)

  • Pull your credit report from Equifax and TransUnion
  • Open individual bank account in your name only
  • Document all joint assets with photos and appraisals
  • Freeze or monitor joint credit accounts
  • Update passwords on financial accounts
  • Secure important documents in a safe location

3Understand Your Net Worth (Week 3)

  • Calculate total value of matrimonial home
  • Value all vehicles, boats, and recreational assets
  • Determine value of RRSPs, TFSAs, and pensions
  • Calculate value of any business interests
  • List all debts including mortgages, loans, credit cards
  • Calculate your net family property for equalization

4Plan for Your Future (Week 4)

  • Create post-divorce monthly budget
  • Estimate child support using federal guidelines
  • Understand spousal support factors and duration
  • Research cost of maintaining current lifestyle
  • Consider tax implications of asset division
  • Plan for health insurance and benefits changes
  • Review and update beneficiary designations
  • Consider impact on retirement timeline

5Build Your Professional Team

  • Consult with a Certified Divorce Financial Analyst (CDFA)
  • Interview family law attorneys
  • Consider a mediator for collaborative divorce
  • Engage a therapist or counselor for emotional support

Need Help With Your Divorce Finances?

This checklist is just the beginning. Our Certified Divorce Financial Analysts help GTA families protect their assets and build a secure financial future.

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Families Helped Through Divorce
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Assets Protected
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