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What are mandatory disclosures in a Colorado divorce?

When a Colorado couple chooses to divorce, emotional issues will be most pressing, but there are many clerical issues that must be attended to. This can be difficult to remember during such an emotional time, but the documents are imperative to completing the process as smoothly and as efficiently as possible. This detailing of the mandatory disclosures that must be made is key to a case.

Both parties must provide the following: a sworn financial statement using the approved form; the three most recent income tax returns - these must include personal and business tax returns; the three most recent personal financial statements with all assets, liabilities, and credit or loan applications; the previous three years of business financial statements for each business in which there was access to the financial statements, the fiscal years' financial statements, and more.

There must also be: real estate documents with the value of the property; personal debt with the last statements as to what the balance is and the terms of payment; investments with documentation, account statements and a listing of the investments in which there is an interest; employment benefits; retirement plan information where the party is listed as a beneficiary and all the appropriate documents; bank information or information from accounts in financial institutions; documentation of income with every source from the last calendar year, including pay stubs, income statements and final annual income statement; documentation of employment and education-linked child care; documentation of insurance with health, property and life and a list of beneficiaries and payment schedules; and any extraordinary expenses for the children.

For people who are already under substantial stress because of the divorce, it is wise to have legal help to take off some of the burden. A law firm that has experience in all areas of divorce can help to ensure all the necessary documents and information are provided to get the case moving and focus on what is important. Calling a lawyer is vital toward this end.

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Mary Kay Kramer, P.C.
1820 West Colorado Avenue
Colorado Springs, CO 80904

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