When you are at certain parts of your divorce, you may find that you will be expected to disclose certain pieces of financial information. Complying with these laws in the state of California will only work in your favor when you are going through the divorce process. We can help you understand what you are expected to disclose and how it will benefit you.
Financial Disclosure
In most cases, the same information you are expected to supply will be identical to what is expected of your spouse. This can include various income sources, all expenses, and a list of your assets. It may also include separate property like everything you obtained before your marriage, as well as things that were given as gifts throughout the marriage. Documentation will also be expected to support these finances such as agreements between you and your spouse, deeds and mortgages, as well as business tax returns if you have a business.
Failure to Disclose
At some points in the divorce process, you or your spouse may believe that the other is hiding assets and not fully disclosing a financial situation. In these cases, you may receive a list of interrogatories and requested document lists. A financial affidavit will be responsible for showing evidence during this time. It is a sworn document that swears that all contents are accurate, and that you did not fail to disclose any information. If you learn that your spouse was hiding assets, the court may award more to the other spouse as punishment. You may also find that your spouse may be held in contempt of court during this time and you may receive a greater share than them.
If you have questions during this time, we will be able to help you in your time of need. Call us today with your divorce questions.
