When parties are going through a Dissolution of Marriage action, there are a number of Mandatory Disclosure documents that both parties are required to provide to one another to have access to full financial disclosure. Both parties are supposed to be forthcoming regarding their incomes, assets and liabilities. However, during a dissolution action that does not always happen. There are a few things that you can do to prepare yourself for filing a dissolution case, including:
Seek experienced legal counsel that you can trust and that you know will help you be prepared for this emotional time in your life
Gather your financial information (examples below, but there is more)
Bank Statements, Retirement Account Statements, Credit Card Statements, Mortgage Statements, Tax returns and attachments, Corporate documents for businesses you own appraisals on real property (if you have them).
Gather your income information – you should get copies of your paystubs, and if you have access, your spouses’ income information as well.Take pictures and/or videos of your belongings – Sadly, during litigation people start to hide things or start to sell assets (dissipation of assets). Once the asset is sold it is hard to recover it. If you have pictures of your belongings, it will help to show the court that the items existed and you should be financially compensated for the asset that was dissipated. So, take pictures and/or videos of all your belongings.
These are just a few of the major items that are a part of the Mandatory Disclosure requirements. If you are unable to obtain these items, do not fret, your legal counsel has tools to help obtain this information.
For more information regarding divorce and what you can do to prepare for filing, you can contact the law office of Schwam-Wilcox & Associates.