Young Professional Divorce Checklist: Startup Equity & Dual-Income Edition

Startup & Tech Equity Documentation

Critical if You Have Equity

Download all stock option grant agreements and vesting schedules

Why: Unvested options may be marital property subject to coverture fraction

Tip: Check Carta, Shareworks, or your company's equity portal for complete records

Screenshot current 409A valuations and cap table positions

Why: Startup valuations fluctuate; establish baseline before negotiations

Tip: Request latest 409A from your company's finance team if not on portal

Document all RSU grants with vesting dates and cliff schedules

Why: Post-separation vesting creates complex division calculations

Tip: Note any accelerated vesting triggers in your employment agreement

List any SAFE notes, convertible notes, or angel investments

Why: These often convert at acquisition; value depends on conversion terms

Tip: Review AngelList, Republic, or direct investment documents

Catalog all side projects with potential IP value

Why: Weekend app, consulting clients, or Substack may have marital value

Tip: Include domain names, GitHub repos with traction, and email lists

Dual-Income Financial Protection

Do This Week

Document both parties' income trajectories and bonus structures

Why: Maintenance calculations consider earning capacity, not just current salary

Tip: Include performance reviews, promotion timelines, and industry benchmarks

Separate joint accounts and establish individual banking

Why: Commingled funds become contentious; clarity prevents disputes

Tip: Keep joint account for shared bills during transition; document withdrawals

Review employer benefits: 401(k) matches, ESPP, insurance

Why: Benefits have value beyond salary; affects support calculations

Tip: Check if spouse is on your health insurance; COBRA costs factor into support

Document any income disparity and career sacrifices

Why: One spouse supporting other's startup or degree affects maintenance

Tip: Keep records of who paid bills during career transitions

List all subscription services and recurring charges

Why: Lifestyle analysis includes monthly burn rate from both parties

Tip: Export credit card statements; categorize shared vs. individual expenses

Rental Property & Real Estate

If You Own Investment Property

Compile rental income history and property expenses

Why: Net rental income affects support calculations and division

Tip: Download Schedule E from tax returns; note capital improvements

Get current property appraisals (not Zillow estimates)

Why: Lincoln Park property values require local market expertise

Tip: MAI-designated appraiser adds court credibility; budget $400-600 per property

Document any sweat equity or renovation contributions

Why: One spouse's renovation work may justify larger share

Tip: Before/after photos, receipts, and contractor invoices matter

Review all property titles and mortgage documents

Why: Title structure affects division; some properties may be non-marital

Tip: Pre-marital properties may have commingled via mortgage payments

Calculate depreciation recapture implications

Why: Selling investment property triggers taxes affecting net value

Tip: Consult CPA before agreeing to take property in lieu of cash

Pet Custody Preparation

Don't Laugh—This Matters

Document who primarily cares for pets (vet visits, walks, feeding)

Why: Illinois courts now consider pet 'ownership' based on care involvement

Tip: Vet records, Rover/Wag history, and daycare receipts establish involvement

Gather all adoption papers, microchip registrations, and vet records

Why: Registration and adoption papers establish legal ownership

Tip: Check microchip registration to see whose name is listed

Note who paid for pet expenses (insurance, food, medical)

Why: Financial responsibility supports care-based custody arguments

Tip: Credit card statements showing PetSmart, Chewy, or vet charges

Consider pet's bonding and daily routine

Why: Courts consider animal's wellbeing and established routines

Tip: If you work from home and spouse doesn't, document the difference

Digital Assets & Privacy

Protect Yourself Now

Secure personal accounts and change shared passwords

Why: Shared Netflix, Spotify, Amazon accounts reveal activity

Tip: Use password manager; enable 2FA on email, banking, work accounts

Review family tracking apps (Life360, Find My Friends)

Why: Location sharing may continue unknowingly post-separation

Tip: Disable location sharing; check all devices including AirTags

Document any cryptocurrency holdings

Why: Coinbase, Robinhood crypto easy to hide; DeFi harder to trace

Tip: Tax returns show exchange 1099s; check browser history for wallet sites

List all shared cloud storage (Google Drive, Dropbox, iCloud)

Why: Shared folders may contain sensitive financial documents

Tip: Migrate personal files; screenshot shared folder contents before separating

Secure work devices and communications

Why: Using spouse's work Slack/email for evidence may backfire

Tip: Communicate with attorney via personal email or Signal, not work systems

Professional Team Assembly

Early Stage

Find attorney experienced with tech/startup equity division

Why: Most family lawyers don't understand ISO vs NSO vs RSU implications

Tip: Ask specifically about 409A valuations and coverture fractions

Identify CPA familiar with startup taxation

Why: AMT implications of exercising options during divorce are significant

Tip: Timing of option exercise affects both parties' tax liability

Consider business valuator for side projects or equity

Why: Startup equity requires specialized valuation methodology

Tip: ABV or CVA designation indicates qualified valuator

Line up therapist for emotional support

Why: Divorce during startup stress or career transition hits differently

Tip: Don't vent to attorney at $400/hour; save legal time for legal work

Young Professional Divorce Checklist