Mandatory Financial Disclosures
In every divorce or custody case, the parties are required to exchange financial disclosures pursuant to C.R.C.P. 16.2(e).
C.R.C.P. 16.2(e) provides:
A party shall, without a formal discovery request, provide the Mandatory Disclosures, as set forth in the form and content of Appendix to Chapters 1 to 17A, Form 35.1, C.R.C.P., and shall provide a completed Sworn Financial Statement and (if applicable) Supporting Schedules as set forth in the form and content of Appendix to Chapters 1 to 17A, Form 35.2 and Form 35.3, C.R.C.P, to the other party within 42 days after service of a petition or a post decree motion involving financial issues.
Timely completing these disclosures is one the most important thing a party can do in their case. Failure to comply with the disclosure requirement can result in serious sanctions against the party and have a significant detrimental effect on the case.
Some examples of documents that the parties are required to disclose include:
- Previous three years of Tax Returns
- Pay Stubs
- Bank Account Statements
- Credit Card Statements
- Student Loan Balances
- Retirement Account Information
- Real Estate Documentation
In addition to sending certain documents/statements to the other party, each party has to complete and file with the court a sworn financial statement (SFS). The SFS provides a fairly detailed overview of a party's financial information including their income, expenses, assets, and liabilities.
The SFS form can either be printed out and written by hand or typed into a computer. Clients of McCalla Law Firm have the option of inputting their information into an online form which then auto-calculates to ensure accuracy.
After all disclosures are sent to the other party and the SFS is filed with the court, the party will file a certificate with the court stating that they have complied with all provisions of C.R.C.P. 16.2(e).
You can access Form 35.1 (the list of documents) and the SFS form here:
This page is only a brief overview of this issue and should not be treated as an authoritative guide. There is no substitute for advice from an experienced lawyer. If you have any questions about this, or any other issue, please do not hesitate to call our office at (720) 295-4196 or email Cody@CKMLawyer.com.