Articles Tagged with disclosure

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During a marriage, a couple can amass a wide variety of assets and accounts. Additionally, they can take on a significant number of debts such as mortgages, loans, or credit accounts. Before a divorce can be finalized, a court must decide how these assets and debts are going to be divided between the spouses in accordance with Florida property division law. In order to do so, a court must be aware of all of the applicable financial accounts and properties that may exist. Therefore, spouses are required by law to submit Mandatory Disclosures regarding their finances within 45 days of the filing of the initial divorce pleading.

The following are financial documents that must be exchanged in mandatory disclosures:

  • Financial affidavits — A spouse can use a shorter form if their income is under $50,000 per year, though must use the long form if it is more than $50,000. Exchanging affidavits is mandatory in every case and cannot be waived.