The Financial Side of Divorce

Once you decide to get a divorce in Florida, you and your spouse will be required to provide mandatory disclosures to the court regarding your finances. This means that both of you will need to provide many financial documents. A certified divorce financial analyst or your divorce attorney can help you get together the necessary information and documents and can also advise you on how to fight for your share of the assets, property, and other financial matters. You can, however, gather these documents on your own in order to provide the court with an outline of your earnings, expenses, assets, property, and liabilities.

In Florida, financial information that is needed includes federal and state tax returns for the last three years as well as tax return information regarding gifts and intangible property. You will also need W-2 forms, 1099s, and K-1s from the previous year, pay stubs for three months, bank account statements for checking, savings, and credit cards, and information regarding retirement plans and accounts and life insurance. Assets and property will need to be identified and appraised; these items can include valuable possessions such as art collections, jewelry, and collectibles as well as homes, other real estate, vehicles, boats, and recreational vehicles. In cases of complicated financial histories, high-asset divorce, or a hostile relationship with your spouse, you may require legal assistance from your divorce attorney to gather and compile all the necessary information. Whatever you can provide on your own, however, will result in fewer legal fees.

Divorce and Family Law Firm in Jacksonville, Florida

Property and asset division is just one aspect of divorce that needs to be agreed upon between the divorcing parties or determined by the courts. Other factors may influence how this matter will be decided, such as child custody, child support, and alimony. All of these issues can be difficult and complicated. Ensuring that you understand the repercussions of decisions made about them is vital, as how they are determined can affect you for many years into the future.

Your rights can be protected in the divorce process with the assistance of a reliable attorney. Charles E. Willmott, P.A. is a divorce and family law firm serving clients in and around Jacksonville. Attorney Willmott is a Board-Certified Divorce Expert, which means that he has attained the highest credential in divorce and family law in the state as certified by the Florida Bar. This places him in an elite group of lawyers who must stay up-to-date and on top of ever-changing laws and precedents which can apply to your case. To learn more about Mr. Willmott and how he can help you with a divorce or other family law matter, contact his firm to schedule a legal consultation at your earliest convenience.