| Florida family law has specific rules which | | | | for one, it is not uncommon for one party to |
| include financial disclosures between husband | | | | have all or most of the documents, leaving |
| and wife. Specifically, when a divorced is | | | | the other party with few options other than |
| filed, the rule requires each party to file a | | | | indicating that the documents are not in his |
| financial affidavit with the Court. A | | | | or her possession. |
| financial affidavit is a snapshot of a | | | | |
| party's financial condition, including daily | | | | The rule gives the parties 45 days from the |
| expenses, asset accumulated, and debt owed. | | | | date the divorce petition is served on the |
| | | | other party. There is good reason for this |
| But that's not all. The rule requires a | | | | period: parties usually avoid looking for |
| party to disclose--or provide copies of | | | | documents until the end, dreading the search |
| documents for- 15 other documents applicable | | | | for particular documents, requesting |
| to assets and debt. There are the obvious | | | | duplicate bank statements, brokerage account |
| ones like income tax returns; pay stubs; bank | | | | statements, life insurance policies and the |
| account statements for all types of accounts, | | | | like. |
| including savings, checking and brokerage | | | | |
| accounts, and deeds to properties. But is | | | | Of course, the requirements of this rule can |
| also requires statements for retirement | | | | be avoided if the parties waived it---they |
| account; loan application; declaration pages | | | | can agree to file only the financial |
| for insurance, including life insurance | | | | affidavit for each, which is a requirement |
| provided through an employer; marital | | | | that cannot be waived. However this waiver |
| agreements between the parties; and other | | | | is not a decisionto be made lightly, and |
| documents showing the ownership of an asset. | | | | should be carefully considered after |
| | | | discussing with an attorney. A party |
| Just like the documents for assets, the one | | | | agreeing to waive the requirements cannot |
| for debt apply whether the debt is in joint | | | | later cry foul if he or she discovers that |
| names or in the name of one party alone. | | | | the "Ex" has property acquired during the |
| | | | marriage but of which they had no knowledge. |
| In most cases, the parties basically exchange | | | | For specific details of what documents must |
| the same documents; but unless the parties | | | | be produced see Rule 12.285(d), of the |
| agree to waive the requirement, they must | | | | Florida Family Law Rules of Procedure. |
| comply. | | | | |
| | | | (c) 2007 Vivian Rodriguez. All Rights |
| At the time of a divorce, or in preparation | | | | Reserved. |