What Financial Disclosures do I have to make in my case?
It’s important to consult with a qualified family law attorney for advice specific to your situation. In Colorado, both spouses are generally required to make full and accurate financial disclosures during a divorce. This process is known as “mandatory financial disclosure.”
The financial disclosure typically includes providing information about your income, assets, debts, and expenses. Some common documents that may be required to disclose include:
- Income: W-2 forms, pay stubs, tax returns, and any other documents that show your income from various sources.
- Assets: Bank account statements, investment account statements, real estate documents, retirement account statements, vehicle titles, and any other documents that detail your assets and their values.
- Debts: Credit card statements, loan agreements, mortgage statements, and any other documents that show your outstanding debts.
- Expenses: Monthly budget breakdown, utility bills, credit card statements, and any other documents that outline your regular expenses.
The purpose of financial disclosure is to ensure transparency and fairness in the division of assets and determination of spousal support (if applicable). By disclosing your financial information, both parties and the court can make informed decisions regarding property division and financial arrangements.
It’s worth noting that specific requirements for financial disclosure may vary depending on the complexity of your case and the court’s rules. It is advisable to consult with an attorney who specializes in family law in Colorado to understand the precise requirements and guidelines that apply to your situation.
