The Inventory of Property and Debts is a crucial form to complete fully and accurately. This form can be accessed by clicking on the following link or from a link on my home page:
http://www.azcourts.gov/selfservicecenter/SelfServiceForms/ArizonaFamilyLawProcedure.aspx
This is the form you rely on from beginning to end to keep track of what needs to be divided when you are getting divorced. It should always be as current as possible.
You will see that the form is broken into categories such as bank accounts, real property, debts, retirement, life insurance etc. The way to complete this form is first to make a list of the assets and debts that you know or believe to exist in each category. It doesn't matter if you have any documents about the asset or debt, put it down if you think it exists. Once you have a list you need to start collecting documents on each asset and debt. Rule 49 of the Arizona Rules of Family Law Procedure will tell you specifically what and how much you need to collect in perfect circumstances. See the following link or find it at the my homepage:
http://www.supreme.state.az.us/rules/ramd_pdf/r-05-0008.pdf
At a minimum you need to have a piece of paper or papers containing the identifying information for the asset or debt. The Inventory of Property and Debts form will ask you to fill in the information that you need to know to complete your final decree. Do your best to find titles for vehicles and deeds for houses. Print or request bank statements and credit card statements for every account you have. Gather statements showing the most current balance possible on retirement accounts. Find summary statements for whole life insurance policies showing the cash value and death benefit. In sum, if there is a blank on the Inventory find a keep the piece of paper you look at to fill in the blank.
And remember...
While you may find helpful insights or bits of information in this blog as it progresses, keep in mind that this is only being provided as general information to help you and others get started in this process. My first and best advice is to consult a lawyer knowledgeable in the area of family law. This is the only way to truly obtain advice directly pertinent to your situation. I am available for consultation by calling (928) 458-5026 to schedule an appointment.
