Once all this documentation has been collected, what do you do with it? There is a form that is handy for this. It is Form 12.932 and is attached to this blog in PDF format. It can also be found in the Statutes and Rules tab of this website or on flcourts.org. The form is essentially a checklist of what you provide to the other party that applies to you. Not all documents will apply to all people. For example, if you don`t file a corporate income tax return, it doesn`t apply to you. Respect for discovery is one of the hardest parts of a divorce, especially when there are a lot of financial documents, and the rule has become increasingly difficult and demanding. If you just have to comply with the new rule, be happy, it can always get worse! As I mentioned earlier, discovery requests four or five years ago can get boring. Many people will look at this rule and wonder why? Why do I have to provide all this information to the other party? Florida requires full financial disclosure in family law cases involving divorce because all assets acquired during marriage through matrimonial efforts are considered marital assets. If the parties do not settle their disputes themselves, the court is obliged to make the decisions and distribute the property in accordance with the law and the facts.
Similarly, all debts acquired during the marriage, with the exception of unnecessary debts, are considered marital debts. Even if the parties do not settle their own disputes, the court must decide how to divide the debt and which party pays which debt. Full financial disclosure is required to ensure that both parties are fully aware of matrimonial assets and liabilities. For example, in many families, one spouse is responsible for family finances and the other spouse often does not know how much debt is accumulating or how much retirement is committed. It is common to learn for the first time during a divorce that the other spouse has accumulated huge credit card debts. Poor management of family finances can often trigger a divorce application. Many spouses filed for divorce after their home was foreclosed! The rule requires you to send a notice of compliance with the rule (Form 12.932) to the court and the opposing party. The notice of compliance will specify the documents you provide to the other party, including the date you provided them. For investigation purposes, send the PAS TO THE COURTHOUSE! You ONLY send the documents to the other party and you should always keep a certain number of copies for your records. Florida Family Financial Disclosure Rule 12.285 has been amended. The new disclosure rule includes the provision of six (6) months of pay stubs, twelve (12) months of verification statements, twenty-four (24) (!) months of credit card statements, and there is a brand new requirement to include digital currency statements.
Rule 12.285 is considered to be the absolute minimum of disclosure requirements, and family law litigants are often subject to requests for disclosure that include a variety of other documents dating back four or five years. Family law cases involving paternity are obviously slightly different because there are no marital assets or liabilities to divide. However, all income can be found in the calculation of child support and, in turn, in a claim for attorneys` fees and/or costs. Don`t get overwhelmed. Read the full form or ask multiple times and cross out any applications that don`t apply to you. Once you eliminate the points that don`t apply to you, the list will likely be much smaller and easier to manage. You can download the certificate of compliance with mandatory disclosure here. Another reason for full disclosure of finances is to determine whether a spouse is entitled to any form of child support. When calculating child support, all the financial resources of the paying spouse are taken into account, including property and income outside marriage. The same applies to the calculation of lawyers` fees and costs. If a spouse can determine a need for legal fees, all of the opposing spouse`s assets and income are on the table.
