DISCLOSURES – What are they and Why are they So Important?
In processes for Divorce or Legal Separation, one of the requirements before getting a final judgment to terminate the relationship is to disclose information. It is mandatory to share details regarding current assets, debts, income and expenses with the other party to avoid risking having a judgment thrown out because information was knowingly withheld.
The forms used to share the information are the FL 160 – the Property Declaration and the FL 150 – the Income and Expense Declaration. This information is sometimes exchanged more than once when the process is lengthy and circumstances change. The information provided should be complete […]