Mandatory Disclosure Rule Delayed
The Supreme Court has delayed the implementation of the mandatory disclosure rule, formerly set to begin on April 1st. The new rule would have required disclosure of an extensive amount of information between parties in divorce cases.
Although the new implementation date has not yet been set, divorcing couples should keep two things in mind: 1. The new date could be established at any time, requiring the disclosure even if your case has already begun; and 2. Public policy has moved towards thorough, open and prompt disclosure of all financial information in divorce cases. Do not be surprised when you are asked and required to produce several years of bank account statements or credit card statements. Nor should you automatically feel as though such requests for so much detailed financial information is a personal attack from your spouse. The divorce process is just necessarily a paper and detail intensive process - for everyone's protection.
Although the new implementation date has not yet been set, divorcing couples should keep two things in mind: 1. The new date could be established at any time, requiring the disclosure even if your case has already begun; and 2. Public policy has moved towards thorough, open and prompt disclosure of all financial information in divorce cases. Do not be surprised when you are asked and required to produce several years of bank account statements or credit card statements. Nor should you automatically feel as though such requests for so much detailed financial information is a personal attack from your spouse. The divorce process is just necessarily a paper and detail intensive process - for everyone's protection.
Comments
Post a Comment