Financial Disclosure During Divorce

legal gavel on top of divorce papersFinancial disclosure during divorce is often a frustrating aspect of the process. Though it is expected that you should be ready with any and all relevant financial information, the dates of which go back years, all the information you have collected may not be used during your case. So, it can be exasperating.

It’s the Law

Florida, like most states, requires spouses to complete affidavits. In this case, it’s a Family Law Financial Affidavit. The purpose of this form is to make certain parts of the process as simple as possible. It is meant to make sure that both parties are aware of all property, income, and debts that may affect them in the process, or post-divorce. There may be occasions in which you do not have to file this, but it is best to assume you do, and ask your attorney.

In Florida, items documenting major financial holdings must be revealed. Usually, this includes at least three months of bank records, tax returns, pay, and more. In some cases, other holdings may be necessary, such as savings, retirements, etc. You may wonder why these disclosures are mandatory. It may feel as though you should have the right to object, or to withhold information you feel is not anyone else’s business. Sometimes, it may seem as though the information requested from you is not relevant, and that your spouse is not having to submit the same.

Overall, it can feel like busy work and it is true that everything you produce may not be utilized in proceedings. However, family law in Florida dictates that anything which might be relevant must be disclosed. If you refused to disclose, this could lead to delays, which, in turn, cost you more money toward your attorney. It could also lead to sanctions because it may appear as though you’re trying to hide something.

It is best to turn everything over to maintain that you have nothing to hide. Plus, as long as you submit all of the documentation, the process will go quicker and smoother. If you need help, contact us at Miller Law. We can help you with all parts of the divorce process.

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