Divorce Financial Planning Worksheet: A Printable Way to Organize Your Finances

Start with the parts you can finish from recent statements, such as income and monthly spending. Leave a field blank when you do not have the answer, and note who might. A partly completed worksheet is still useful because it shows which records you need to request.

Use approximate values and write the date beside each one. Do not write passwords or full account numbers on the sheet; the last four digits are enough to identify an account. Anything you type on this page stays in your browser and is not sent to us, so print it or save it as a PDF before you close the page.

This page is educational. It does not tell you what you are entitled to, how property will be divided, or what your agreement should say. Those questions belong with a qualified family law attorney.

The worksheet has nine parts. Each part uses a current column and an expected column where it helps, so you can see where your finances may change after the divorce. Select Print or save as PDF to print only the worksheet.

Income and spending show what a household needs each month and what may change when it becomes two households. Assets and liabilities give your professionals a shared starting list, with the date of each value so the numbers can be compared fairly.

Account access, insurance, and beneficiaries are the items people most often overlook. A joint login, an old beneficiary form, or a shared insurance policy can stay in place for years unless someone reviews it. Because a court order or agreement may limit what you can change during a divorce, ask your attorney before you close, retitle, or update anything.

Tax rules depend on the facts of your situation and on the year, so treat this section as a list of questions rather than answers. The IRS explains the main topics in Publication 504, Divorced or Separated Individuals. The 2025 edition was the current version when this article was written on September 30, 2026.

Filing status generally depends on your marital status on the last day of the tax year. If a final decree of divorce is in place by that date, you are generally unmarried for the whole year. If you are separated without a final decree, you are generally still married for that year, subject to exceptions. Publication 504 also says you may remain jointly and individually responsible for tax on a joint return for a year that ended before the divorce, even if your divorce decree assigns the responsibility to your former spouse.

Alimony is treated differently depending on when the divorce or separation instrument was executed. For instruments executed after 2018, Publication 504 says alimony is not deductible by the payer and is not included in the recipient's income. Older instruments that were later modified may be treated differently, so the exact dates and wording matter.

Transfers of property between spouses, or between former spouses when the transfer is incident to the divorce, generally do not produce a recognized gain or loss, according to Publication 504. There are exceptions, including when a spouse or former spouse is a nonresident alien. A tax professional can explain how the rule applies to your property, including employer equity, and how the information is reported on forms such as Form W-2, Form 3921, or Form 1099-B.

Publication 504 also lists housekeeping items. If you were claiming a personal allowance for your spouse, you must give your employer a new Form W-4 within 10 days after a divorce or legal separation. You can notify the IRS of a new mailing address with Form 8822, and you can notify the Social Security Administration of a name change with Form SS-5.

Retirement accounts often need paperwork beyond the divorce agreement. A qualified domestic relations order, or QDRO, is a court order that can recognize a former spouse's right to receive benefits from a workplace retirement plan. The Department of Labor explains that a plan is generally neither permitted nor required to follow an order that is not a QDRO, so ask your attorney and the plan administrator how the plan handles these orders.

An IRA interest can be transferred to a spouse or former spouse under a divorce decree or a written instrument incident to the decree without being treated as a taxable transfer, according to Publication 504. Benefits paid to a spouse or former spouse under a QDRO are generally included in that person's income, and an eligible rollover may be available. Confirm the details with your tax professional before any money moves.

Social Security has its own rules. The Social Security Administration states that if you were married for at least 10 years before the divorce, you may qualify for benefits on your former spouse's record if you are not currently married. Length of marriage and other conditions apply, so check your own record with the agency.

Your attorney is the right person for questions about rights, obligations, and how your state handles property, support, and parenting arrangements. A short, specific list helps you use meeting time well. The questions below are a starting point, not legal advice.

• Which accounts, debts, and benefits may be part of the divorce, and how are they valued?
• What may I change or move during the process, and what should I leave alone?
• Which documents will the retirement plans, insurers, and lenders require to carry out the agreement?
• How should support payments be described so my tax professional can review the tax treatment?
• When should beneficiary designations, wills, and powers of attorney be updated?

After the worksheet is complete, a financial planner can help you turn the lists into cash-flow scenarios, review how investments and tax decisions interact, and prepare questions for your attorney and CPA. This work does not replace legal advice, and outcomes depend on your facts, your agreement, and market conditions.

If you are also facing the loss of a spouse or an inheritance, our page on widowed, divorced, or inheriting explains how our team approaches those transitions. You can also contact our team to ask whether a planning conversation makes sense for you. The worksheet is yours to use whether or not you do.

Sources were reviewed on September 30, 2026. Tax and benefit rules can change, so confirm current rules with the agencies or a qualified professional before acting.

• IRS Publication 504 (2025), Divorced or Separated Individuals
• Social Security Administration, If You Had a Prior Marriage
• U.S. Department of Labor, QDROs: The Division of Retirement Benefits Through Qualified Domestic Relations Orders

What should a divorce financial planning worksheet include?

A useful worksheet covers income, recurring monthly spending, assets, debts, account access, insurance, beneficiaries, tax questions, and the professionals you plan to consult. It works best when each value carries a date and when you note who holds the records.

When should I start organizing my finances for a divorce?

You can start as soon as you are considering a divorce or have begun the process. Gathering statements and tax returns takes time, and your attorney and tax professional may ask for them early. Ask your attorney what you should and should not change while the case is open.

Is alimony taxable or deductible?

It depends on when the divorce or separation instrument was executed. According to IRS Publication 504, alimony under an instrument executed after 2018 is not deductible by the payer and is not included in the recipient's income. Earlier instruments may follow different rules, so have a tax professional review yours.

How is a retirement account divided in a divorce?

Workplace retirement plans generally divide benefits through a qualified domestic relations order, and each plan has its own procedures. IRAs can be transferred under a divorce decree or a written instrument incident to it. Ask your attorney and the plan administrator how your accounts are handled, and confirm the tax treatment with a CPA.

Do I need to update beneficiaries and account access?

Often, yes, but timing matters. A court order or agreement may limit changes while a divorce is pending, so confirm with your attorney first. Afterward, review retirement accounts, insurance policies, wills, powers of attorney, and logins for shared accounts.

Does this worksheet replace advice from an attorney or CPA?

No. It helps you organize information and prepare questions. Legal questions belong with a qualified family law attorney, and tax questions belong with a qualified tax professional who can review your facts.