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