Mandatory Disclosure, generally, is the process by which opposing parties exchange financial documents and information as required by Florida Family Law Rules of Procedure 12.285. These are automatic disclosures that must occur in every divorce and child custody proceeding. The only way to not perform this statutory requirement is to present the court with a signed waiver by both parties. However, this is highly discouraged as you could be missing out on a great deal of crucial financial information. The purpose of these documents is to inform the opposing party of an accurate financial status as well as the items that may be in dispute when entering into a divorce. Each party is required to comply with the mandatory disclosure documents and must provide these documents to their spouse within 45 days of filing the petition, if you are the petitioner, or within 45 days of receipt of service of the petition. Your Florida Divorce Attorney will be able to notify you of the timeline, as well as the necessary documents you will need to compile for satisfaction of these disclosures.
Although mandatory disclosure only requires you to provide the opposing party with your personal, financial documents, you must file a Certificate of Compliance With Mandatory Disclosure with the court to inform them of your exchange. The certificate also provides you with a checklist of documents that you must deliver to your spouse in order to fulfill your obligation. These mandatory documents include:
- Family Law Financial Affidavit
- Personal federal and state income tax returns, gift tax returns, and intangible personal property tax returns for the preceding 3 years
- W-2, 1099, or K-1 for the past year if your income tax return has yet to be filed
- Pay stubs for the last 3 months
- Statement identifying the source and amount of all income for the last 3 months
- All loan applications and financial statements prepared for any purpose or used for any purposed within the last 12 months
- All deeds to real estate in which you own a present interest or owned an interest in within the last 3 years
- All promissory notes in which you presently own or owned an interest in within the last 12 months
- All present leases
- All periodic statements for the last 3 months for all checking accounts
- All periodic statement or the last 12 months for all savings accounts, money market funds, certificates of deposits
- All brokerage account statements for the last 12 months
- Most recent statement for any pension, profit sharing, deferred compensation or retirement plan
- Declaration page and last periodic statement and the certificate for any group insurance for all life insurance policies insuring my life or the life of my spouse
- All health and dental insurance cards covering me, my spouse and children
- Corporate, partnership, and trust tax returns for the last 3 years, in which I have an ownership or interest greater than or equal to 30%
- All credit card and charge account statements and other records showing my indebtedness as of the date of filing of this action and for the last 3 months
- All premarital and marital agreements between the parties to the case
- If a modification proceeding, all written agreements entered into between the parties at any time since the order to be modified was entered
- All documents and tangible evidence relating to claims for an unequal distribution of marital property, enhancement or appreciation in nonmarital property, or nonmarital status of an asset or debt
- Any court order directing that I pay or receive spousal support or child support.
Mandatory disclosures, although exhaustive, can be imperative to a fair settlement or trial in your case. Take time to compile these documents and ensure their accuracy. Further, if you have any questions, do not hesitate to discuss them with your Florida Divorce Attorney. We will review these documents and ensure proper compliance to proceed with your case.
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