A buddy of mine just went thru a CL separation and went the formal 'lawyer' route. Together apprx 4 years plus had a child. During the process both parties had too provide full disclosure of all assests, liabilities. A very detailed and painful experience plus having to dig up last 3 years tax returns. I believe they 'co-mingled' there financials together as a couple.
In the end, he kept the house, no SS but of course has CS to pay. No lump sums transfer between them. Mostly issues around who's going to pay off loans.
Now to my questions....
1. what is the purpose of disclosure for CL?
2. Is it a legal requirement of the process or just a lawyer tactic?
I remember reading that a finanical statement must be filed if your legally married and getting a divorce via the court.
thanks for your help/comments
In the end, he kept the house, no SS but of course has CS to pay. No lump sums transfer between them. Mostly issues around who's going to pay off loans.
Now to my questions....
1. what is the purpose of disclosure for CL?
2. Is it a legal requirement of the process or just a lawyer tactic?
I remember reading that a finanical statement must be filed if your legally married and getting a divorce via the court.
thanks for your help/comments
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