What is a Financial Disclosure Form?
A Financial Disclosure Form is a form that is requested by the court, and required in any Family Law case dealing with divorce or child custody matters. The judges look to this form to fully understand the parties’ financial situation and to better determine issues such as the allocation of alimony, child support, and property division. This form must be filled out with the court, and it must be served on the other party.
When filling out this form, it’s important for you to remember that you are doing so under the penalty of perjury. Therefore, it is very important for you to fill out this form honestly, and to the best of your knowledge and belief. You will be asked personal questions on this form, such as your name, your age, your date of birth, your marriage date, if you were married, as well as your educational level. You will need to disclose all of your assets, your liabilities, your income, and your expenses. Failure to be truthful on this form, or failing to fill it out altogether can result in penalties such as:
- Sanctions imposed to you by the court
- Sometimes including but not limited to you having to pay for your spouse’s attorney fees and cost
- The judge disproportionately dividing the assets
- In this case, most, if not all, of the assets can be awarded to your spouse
- Dismissal of your case
- In some cases, it can even result in incarceration.
The Financial Disclosure Form is typically done soon after your summons and complaint have been served and filed with the court. It is the beginning of your divorce or child custody case. It is an important document in determining different outcomes of the case, so therefore when filling out this form, please take it seriously, fill it out completely, clearly, thoroughly and to the best of your ability.
An experienced Family Law attorney can help guide you through completing your Financial Disclosure in a detailed and accurate manner. If you’d like to discuss your specific situation with our experienced Family Law attorneys, contact our office at (702) 998-1188, info@ljlawlv.com, or by scheduling a consultation online.
For additional resources related to divorce, child support, and other family law topics, check out our Family Law blog, podcast, and Family Law TV playlist on Youtube.