Divorce, Paternity and Child Support cases require the Parties to provide financial information to their spouses or former significant others which parties’ often find objectionable. Florida’s Mandatory (Financial) Disclosure rule makes this an absolute requirement.
The important of complying with mandatory disclosure of financial records in a divorce or other family matter cannot be minimized. It is vital that you provide the required financial documents when working with your divorce attorney throughout the proceedings. An attorney needs to have this information to provide solid advice concerning the financial issues in your case. In a divorce case this includes financial accounts listed in the names of both spouses jointly and separately.
EXCEPTIONS TO THE MANDATORY DISCLOSURE RULE
In some cases, Mandatory Disclosure is not needed during a divorce. This is only applicable when the case is not being litigated in court and both parties have settled all of the issues by agreement (considered an Uncontested Divorce). However, even though the financial disclosures can be waived or otherwise not required, both parties must still fill out and file a Financial Affidavit that discloses detailed financial information. Under no circumstances can the Financial Affidavits be waived for a divorce proceeding, even when both parties are in agreement that a divorce should occur.
FLORIDA FAMILY LAW RULES OF PROCEDURE
Mandatory Disclosure is found under the Florida Family Law Rules of Procedure. This Rule lists the following type of financial documents which must be provided to the other party which includes the following:
· Bank account statements
· Tax returns
· Pay stubs
· Pension plan statement
· Assets
· Debts
The list continues many other financial document types. When a person first files a divorce case, he or she has have 45 days to provide the other party with the required financial information. The other party must also provide the required financial information within a specified time period. Parties can ask for an extension if needed. In most cases, if the person has a legitimate reason for the delay, an extension will be granted by the court.
RATIONALE FOR REQUIRING MANDATORY DISCLOSURE
By requiring the Parties’ to provide Mandatory Disclosure Courts can streamline the gathering of financial information by the Parties and reduce the cost of litigation. It also ensures the court will have sufficient information to make a better reasoned decision concerning financial issues in Family Court matters. Although Mandatory Disclosure can seem rather intrusive and cumbersome, in the big picture of resolving a court case having mandatory disclosure benefits the parties and the court system, especially in divorce cases.
Darren K. Edwards, Esq. is a Divorce Attorney in Fort Lauderdale, FL. Please Contact Us online to setup an initial consultation or call 954 495-4690.
Divorce, Paternity and Child Support cases require the Parties to provide financial information to their spouses or former significant others which parties’ often find objectionable. Florida’s Mandatory (Financial) Disclosure rule makes this an absolute requirement.
The important of complying with mandatory disclosure of financial records in a divorce or other family matter cannot be minimized. It is vital that you provide the required financial documents when working with your divorce attorney throughout the proceedings. An attorney needs to have this information to provide solid advice concerning the financial issues in your case. In a divorce case this includes financial accounts listed in the names of both spouses jointly and separately.
EXCEPTIONS TO THE MANDATORY DISCLOSURE RULE
In some cases, Mandatory Disclosure is not needed during a divorce. This is only applicable when the case is not being litigated in court and both parties have settled all of the issues by agreement (considered an Uncontested Divorce). However, even though the financial disclosures can be waived or otherwise not required, both parties must still fill out and file a Financial Affidavit that discloses detailed financial information. Under no circumstances can the Financial Affidavits be waived for a divorce proceeding, even when both parties are in agreement that a divorce should occur.
FLORIDA FAMILY LAW RULES OF PROCEDURE
Mandatory Disclosure is found under the Florida Family Law Rules of Procedure. This Rule lists the following type of financial documents which must be provided to the other party which includes the following:
· Bank account statements
· Tax returns
· Pay stubs
· Pension plan statement
· Assets
· Debts
The list continues many other financial document types. When a person first files a divorce case, he or she has have 45 days to provide the other party with the required financial information. The other party must also provide the required financial information within a specified time period. Parties can ask for an extension if needed. In most cases, if the person has a legitimate reason for the delay, an extension will be granted by the court.
RATIONALE FOR REQUIRING MANDATORY DISCLOSURE
By requiring the Parties’ to provide Mandatory Disclosure Courts can streamline the gathering of financial information by the Parties and reduce the cost of litigation. It also ensures the court will have sufficient information to make a better reasoned decision concerning financial issues in Family Court matters. Although Mandatory Disclosure can seem rather intrusive and cumbersome, in the big picture of resolving a court case having mandatory disclosure benefits the parties and the court system, especially in divorce cases.
Darren K. Edwards, Esq. is a Divorce Attorney in Fort Lauderdale, FL. Please Contact Us online to setup an initial consultation or call 954 495-4690.
