Three Things You Must Disclose On Your Divorce Paperwork
When you are going through a divorce, especially a very contentious proceeding, you are stressed and it's easy to forget the little things. Divorce paperwork may seem complicated, but it is merely a matter of reading the documents thoroughly and providing all of the information the court needs. When you fill out your financial disclosures for the purposes of spousal support or child support, you may forget to disclose some types of income. This can get you into a lot of trouble with the court. When you fill out your financial paperwork to accompany your divorce petition, don't forget to disclose the following three things.
This area gets some individuals in trouble. If you have income from any educational source, such as the Department of Veterans Affairs Montgomery GI Bill, this must be disclosed to the court. It may or may not affect the amount of spousal support or child support you are awarded, but it still must be disclosed. This is especially important if the benefits you receive are based on your spouse's service to the nation.
Investment income is another area that is sometimes missed. If you have stock dividends or other investment income that you expect to receive, you need to disclose this to the court. Unless it is a substantial amount, it won't affect your judgment for support, and you may not think it is worth mentioning, but it is always best to disclose all information so you don't give an appearance of trying to conceal assets.
Grants and Other Income
If you are expecting to receive a grant for educational purposes, for a small business that you currently own or are expecting to start, or for any other purpose, this must also be disclosed to the court. During the divorce proceedings, the judge needs to have a full picture of your financial situation, as well as your spouse's, so a fair judgment can be made. If you choose to conceal any type of income, you may get more money at the start, but once the concealment is discovered, the monetary sanctions the court imposes on you will wipe out any extra money you received from your former spouse.
Divorce paperwork can be confusing, especially if you are distraught over your divorce and don't have much familiarity with legal proceedings. You don't have to hire someone to represent you, but you can seek assistance with completing your divorce paperwork and navigating the court system.