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Disclosure of Income, Assets, and Debts During the 90-day waiting period, both parties are required to provide full disclosure to the other party concerning all assets and debts with respect to all separate and marital property. Colorado law requires that each party shall provide to the other party:
Additionally, parties are required to provide documentation disclosing the existence of all assets and debts. A full list of the disclosures required is located at: http://www.courts.state.co.us/chs/court/forms/domestic/jdf1125.doc The financial affidavit is one of the most important documents you will encounter in this process. The financial affidavit reflects a party’s income and expenses. It also contains information concerning the value of all assets. Once the disclosures are complete and each party is fully aware of the assets and liabilities of the marriage and each other, it is possible to divide the marital assets through negotiation and compromise. In the event that the parties are unable to settle the case and a court hearing is required, the Court will carefully review the financial affidavits in an attempt to understand and determine numerous financial issues, including the issues of maintenance, child support, division of assets and debts and award of attorney fees.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship. Our firm practices and is admitted to practice only in Colorado. The information contained on this website is unique to Colorado. |
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