Financial disclosure is the mandatory exchange of complete financial information between separating spouses.
Divorce financial disclosure is a critical legal process where both spouses must provide detailed documentation of their complete financial situation. This process creates transparency and establishes a foundation for fair division of assets and support arrangements.
The disclosure requires comprehensive documentation of:
- Assets – including savings, investments, property, and pensions
- Debts and liabilities – such as mortgages, loans, and credit card balances
- Income sources – including employment earnings, business income, and investments
Financial information must be provided for three key dates:
- The date of marriage – initial financial position
- The date of separation – when the relationship ended
- The current date – present financial status
Supporting documentation typically includes bank statements, investment records, property deeds, credit reports, and tax returns. Full and honest disclosure is legally required and essential for reaching a fair settlement.