Financial disclosures: what you must share and when

Both spouses must tell each other, and often the court, about their income, expenses, assets and debts. The forms have different names: financial affidavit, declaration of disclosure, statement of net worth. The purpose is the same.

What is usually included

• Income from every source, with recent pay stubs and tax returns.
• Monthly living expenses.
• Every asset and debt, whether you think it is marital or separate.
• Supporting documents such as statements and valuations.

Deadlines

Many states set a deadline measured from filing or service, often 45 to 60 days. Your state guide lists yours.

Disclosure versus discovery

Disclosure is the required exchange. Discovery is the formal process of demanding more, through written questions, document requests, subpoenas and depositions. Discovery is where contested divorces become expensive.

If you think money is hidden

Watch for missing accounts on credit reports, unexplained transfers, cash businesses and sudden drops in reported income. A forensic accountant or divorce financial analyst can trace it. Courts can penalize a spouse who hides assets, sometimes by awarding the hidden asset to the other spouse.

KindSplit builds your disclosure summary from the Money screens and flags gaps before you share it.

This guide is general information, not legal advice. Laws differ by state and change over time. For advice about your situation, talk to a licensed attorney in your state.