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WHAT IS FINANCIAL DISCLOSURE? In divorce, legal separation and nullity cases, California law (Family Code §2103) requires the parties to provide information to each other about their income and expenses, as well as their debts (even if you do not have any!). This is called financial disclosure.
A financial statement is a court form where you set out your financial information. It includes information about your income, expenses, assets , and debts .
Form 13: Financial Statement (Support Claims) if your case involves child support or spousal support, but not property issues. Form 13.1: Financial Statement (Property and Support Claims) if your case involves claims regarding property or debts (whether or not your case also involves support issues)
If you refuse to provide financial disclosure as part of the financial court process the court can make orders against you requiring financial disclosure. You will be in contempt of court if you breach the order.
Auditors are required to express an opinion on the financial statements as a whole. This includes the notes to the financial statements which are an integral part of the accounts, providing additional information on balances and transactions and other relevant information.
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The Alberta Rules of Court and the Alberta Child Support Guidelines both require parties to provide full financial disclosure to each other on an annual basis during their period of separation.
A personal financial statement is a snapshot of your personal financial position at a specific point in time. It lists your assets (what you own), your liabilities (what you owe), and your net worth. To get your net worth, subtract liabilities from assets.
If you don't provide proper disclosure to support the values of certain assets and debts on your Financial Statement, a court may refuse to accept their value. This can lead to significant financial consequences when dividing property upon separation; Causing your Agreement or a Court Order to be set aside.
A financial statement provides a summary of the financial details of the party including information about income, expenditure, property owned, superannuation and liabilities. A Financial Statement is a sworn document, taking the form of an affidavit.
It is illegal to intentionally hide assets from the court during a divorce. There is a duty on each spouse to make a full and frank disclosure of their financial position, which includes the full extent of their assets.

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