The money paperwork, one line at a time

Every divorce needs a sworn statement of what each spouse earns, owns, owes and spends each month. It takes an evening. Here's how to make it an accurate one.

Why it matters

The statement is signed under oath. The court uses it to check that your agreement is fair, and support is calculated from it. A number that's off by a lot can reopen the agreement later.

What to have open

• Your last two years of tax returns
• Three recent pay stubs, or a year of business records if you're self-employed
• Statements for every bank, retirement and investment account
• The mortgage or lease, car loans and credit card statements
• A month of ordinary spending, from your bank app

The three lines people get wrong

Gross income, not take-home pay. The form asks what you earn before taxes and deductions; use the pay stub's year-to-date figure and divide.

Monthly costs that aren't monthly. Car insurance paid twice a year, school fees, holiday spending: add them up for the year and divide by twelve.

Debts in your name only. A card you opened alone is still listed, even if it paid for household things. How it's divided is a separate question.

When you're done

Send it to your lawyer before you sign it. We check it against the documents, and against your spouse's, before anything goes to the court.