Once a divorce action is commenced, you and your spouse will begin exchanging information that your attorneys will need to review in order to resolve your divorce case. Within 45 days of commencement of divorce proceedings, the mandatory self-disclosure requirements of Supplemental Probate and Family Court Rule 410 require exchange of certain records between you and your spouse. You will have to obtain these records directly from the appropriate institution if you do not have copies in your personal files, so we recommend you begin ordering and assembling this information as soon as possible. Below is a list of mandatory self-disclosure documents to be exchanged under Rule 410, and a brief description of what is included in each category.
Tax returns:
- State and Federal Returns for the past three tax years.
- All supporting schedules, including, without limitation, W-2s, 1099s, K-1s, Schedule E and Schedule C.
Bank Accounts:
Most banks have approximately 12-18 months of statements available online, but older statements will have to be ordered directly from the bank. This can take several weeks, and many banks charge fees for reproducing statements. We recommend you order the statements early so that you are not waiting for the last minute.
- Bank statements for the past thirty-six (36) months, or three years, for all accounts standing in your name individually, in your name jointly with another, held by another for your benefit, and held by you for the benefit of another.
- The statements should include account activity and copies of checks. Many banks will not automatically reproduce the check images with the older statements, but they must be included in the documents exchanged. Some banks will charge extra for reproducing the check images separately unless you order them at the same time as statements, so make sure you confirm with the bank what they are preparing for you to avoid unnecessary charges.
Pay Stubs:
- Copy of your four most recent pay stubs from each employer for whom you have worked.
- If you have more than one job, make sure you are collecting four pay stubs from each employer.
Health Insurance:
- A description, including prices and coverage options, for any and all health insurance that is available to you through your employer.
- You will need to request what is called a “Summary Plan Description” directly from your Human Resources Department. You should make sure that what your HR Department provides includes pricing and coverage options for individual, family, and other coverage options, including details on whether a spouse is permitted to remain on the policy after a divorce.
NOTE: the Rule does not ask for only a description of current benefits, but what is available to you. The purpose of this is to understand health insurance options are available to both spouses, so that an informed decision of post-divorce coverage for spouses and children can be made.
Retirement Accounts, Pensions, Other Types of Accounts:
- Statements for the past thirty-six (36) months, or three years, for all retirement, pension, Health Savings Accounts, 401K, IRA, 529, and any and all accounts of every type and nature standing in your name individually, in your name jointly with another, held by another for your benefit, and held by you for the benefit of another.
- These statements will also likely need to be ordered directly from the managing institution, so you should order these as soon as possible.
Loan Information:
- If you have applied for any loans in the past thirty-six months, whether or not it was approved, you must reproduce a copy of your loan application.
Financial Statements:
- If at any point in the past thirty-six months a financial statement reflecting your net worth was created, a copy of each must be produced with Rule 410 documents.
-Elisabeth Feeney, Esq.
