It is crucial that prior to these discussions that spouses provide one another with full financial disclosure. What this means is looking at the value of assets and liabilities as of date of marriage and as of date of valuation. At that time, and with that information we can understand Net Family Property.
Importance of financial disclosure when creating your Separation Agreement
One of the biggest and sometimes toughest discussions when going through the mediation process is around property division.
Providing full financial disclosure means you can make educated decisions. You are informed and therefore can feel empowered to make decisions that work best for you and your family.
Full financial disclosure means that your Agreement has a better chance of being upheld in court. Without this, your Agreement could be voided.
If you have any further questions regarding financial disclosure, please feel free to call our office.
