The Financial Documents You May Need to Produce in Your Florida Divorce

Finalizing a divorce in Florida requires that couples grapple with a number of complicated issues, including alimony, property division, and if children are involved, child support and time-sharing arrangements. This in turn, can only be achieved when the parties disclose all of the details of their finances. In fact, those who fail to do so in an effort to avoid paying alimony or splitting up an asset fairly could face significant court sanctions. While potentially overwhelming, gathering and producing these records is critical for maintaining fairness and transparency in a divorce proceeding. Fortunately, you don’t have to attempt to do so on your own, but could benefit from the help of an experienced Florida divorce lawyer.

A Financial Affidavit 

Besides a variety of supporting documents, divorcing couples will need to carefully and honestly fill out a financial affidavit, which is basically a complete breakdown of their finances. It includes details about the parties’ incomes, expenses, debts, and assets, all of which will help dictate settlement negotiations or a judge’s decision.

Proof of Income

Some of the most important financial records that divorcing couples will be required to produce are those related to income. This could include:

• Tax returns from the last three years, which provide a comprehensive view of the parties’ incomes and financial transactions; and
• Recent W-2 wage statements and Forms 1099, which will reveal the parties’ latest income details; and
• Pay stubs.

These records can help paint a picture for the court of each party’s income, which could affect a potential alimony award, a property division agreement, and even child support.

Proof of Assets 

Before a couple can enter into a fair property settlement, the parties will need to disclose all of their assets, both separate and marital. This could include proof, such as:

• Property deeds, leases, and promissory notes;
• Bank account statements;
• Brokerage account records;
• Retirement and pension plan records;
• Insurance policies; and
• Records related to ownership of business interests.

This is one of the most difficult parts of the disclosure process, as a couple’s assets could be varying and wide-ranging, which is why it’s so important in these cases, to work with an attorney who can ensure that no assets are overlooked and that all property is properly categorized.

Loan and Financial Statements

 Besides providing proof of their assets, couples going through the divorce process will also need to produce records of any loans or debts entered into before and during the marriage. Other records of separate or marital debt should also be gathered at this time, including credit card statements and other debt-related documentation.

Legal and Court Documents 

Finally, as part of the disclosure process, couples will need to provide proof of any existing legal agreements or court orders. A prenuptial agreement, for instance, could play a critical role in determining how a couple’s assets are to be divided, while a prior child support agreement could help dictate how much a parent is required to pay in the current case.

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Each of these financial records is important in creating an accurate financial picture for your legal team and the court during your divorce. For help with this process, please call the experienced Clearwater divorce lawyers at Cairns Law today.

Sources: 

flcourts.gov/content/download/685812/file_pdf/902b%2011-20.pdf

supremecourt.flcourts.gov/content/download/345287/file/01-2344_rule.pdf