In this article, you will discover:
- The documentation needed to file for uncontested divorce in New York.
- What account statements should be disclosed in an uncontested divorce.
- Whether a formal financial disclosure is required to file an uncontested divorce.
What Income Documentation Is Needed To File For An Uncontested Divorce?
No income documentation is needed to file for an uncontested divorce. The only information you need to fill out the initial divorce complaint is:
- The date and place of marriage
- Whether one or both of you have been in New York State for more than two years
- Whether you have any children together
- The basic claims you’re making in the divorce case
Ultimately, you may need financial documentation in the course of settlement negotiation, but you won’t need it to file initially.
Should Recent Tax Returns Be Included In My Documentation?
Yes. For an uncontested divorce, you should exchange your most recent tax return along with W-2s and 1099s. It’s also often recommended that both parties exchange net worth statements.
Which Bank Account Statements Should Be Disclosed And Reviewed?
For an uncontested divorce, you and the other party will exchange statements as of the date of the divorce filing. You don’t need to exchange anything more than that, as what (generally) gets divided in a divorce case are assets as they exist as of the date of filing for the divorce.
Theoretically, you could suspect that your ex might be hiding assets from bank accounts in the several months leading up to the divorce. In that case, there’s nothing prohibiting you from asking for several months up to three years of bank statements.
Those statements are easy to obtain. Anytime the other party resists producing them, you should be suspicious. Most banks have at least 18 months of statements for download available online. It’s not that hard to obtain up to three years of statements from someone’s bank.
Attorney David Bliven is a skilled lawyer based in Westchester, NY, who has helped countless clients like you navigate the intricacies of divorce law. With decades of experience, he is prepared to assist you in preparing all the paperwork necessary to file for divorce so you can achieve a fair judgment within a reasonable time frame.
Still have questions? Ready to get started? Contact the Law Offices of David Bliven today to schedule an initial consultation.
What Proof Of Vehicle Ownership Or Leases Should Be Included?
When filing for divorce, you don’t typically have to produce any proof of vehicle ownership or leases. Most of the time, people exchange net worth statements. These are “sworn to” documents under penalty of perjury, detailing what each party owns. If your ex is wondering whether your vehicle is financed or leased, all you need to produce is the lease or financing (or lease) agreement that specifies the arrangement you have with the dealer.
Do I Need to Share My Insurance Policies or Beneficiaries?
You should certainly disclose a whole life policy. A whole life policy is an asset that is (usually) divided in terms of its cash surrender value. Otherwise, you don’t really need to disclose the policies themselves or the policy statements.
Likewise, you don’t have to disclose the policy beneficiaries. If one party is required to maintain a term life insurance policy to secure maintenance or child support obligations, that requirement should be included in the settlement agreement. You would also build in a provision under which they will be required to produce proof of that term life insurance on at least an annual basis to confirm continued coverage.
What Investment Account Information Is Typically Required?
The net worth statement requires disclosure of the types of accounts, the names on the accounts, the account numbers, and the balances. It’s recommended the parties exchange account information as of the date of filing to confirm their balances.
If you suspect your ex has been draining investment accounts, you would ask to exchange (at least) a few months of statements to see whether there were unexplained withdrawals or transfers out of the investment account. Other than that, the net worth statements are generally the only document recommended to reach the point of an uncontested settlement.
Are Credit Card Statements And Outstanding Debts Part Of The Process?
Outstanding debt can be part of the negotiation. One party may have $10,000 worth of credit card debt that they want the other party to share. If that’s the case, you need to review the credit card statements, as there is both a general rule and an exception to it.
The general rule is that debts accrued during the marriage are presumptively marital debts and are subject to division or assessment against the other party’s portfolio. There is a significant exception to that: Did the debt accrue to one party’s benefit?
For example, your ex could use a credit card to purchase a vacation that clearly benefited them only. That’s not marital or joint debt. The courts have the discretion to “back that out of the marital pot.”
If your ex wants to assess you with credit card debt, you are entitled to see the credit card statements and verify how that debt actually accrued.
Is A Formal Financial Disclosure Statement Required For An Uncontested Divorce?
For an uncontested divorce case, nothing is required in terms of disclosure. A formal financial disclosure statement is only required if the case becomes contested.
I’ve had clients tell me they’re completely confident they know what their spouse has and that they don’t need a disclosure. I walk them through possible scenarios, including the possibility that their spouse may be lying to them. Maybe they’re refusing to disclose that they have a significant amount stashed away in an offshore account.
If you waive net worth statements, then you will have no opportunity to reopen the divorce case. Your divorce settlement agreement will invariably state that both of you waived the requirement for net worth statements and are aware of each other’s assets.
Once net worth statements are waived, you can’t responsibly claim you are the victim of fraud if there are no representations to that effect.
Why Is Organizing This Paperwork Crucial For Drafting A Clean Agreement?
Comprehensive documentation is always important when filing for divorce. If you’re going to proceed with a divorce settlement agreement, it’s best to have open disclosure of what each party has. By preparing the documentation your attorney will inevitably need, you’re making the process quicker and less expensive for you, which should be in everyone’s interest, irrespective of income.
High-net-worth clients can sign authorizations if they so choose, allowing their divorce attorney, accountant, or financial advisor to obtain everything on their behalf.
Still Have Questions? Ready To Get Started?
For more information on financial documents needed for divorce, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (347) 797-1188 today.