Discovery Lawyers for Massachusetts Divorce Cases
After the complaint for divorce is filed and served, both parties will be required to fill out a financial statement, and the discovery process typically begins.
There must be full disclosure by both parties, and each attorney should have a complete understanding of the marital finances. Most important is the value of any real estate, pension and retirement accounts, wages, debts, expenses, insurance coverage and records relating to each spouse's contribution to the down payment of the marital home.
Our Attorneys Are Razor Sharp With Discovery and Divorce Finances
The Massachusetts Family Law Group has earned the reputation for having attorneys who are financial wizards and focused, with the know-how and expertise for analyzing financial statements, tax returns and banking records. We track spending patterns to determine discrepancies between income, spending and assets identified during discovery. Former clients will attest to how our meticulous attention to detail may discover assets not previously disclosed by your spouse.
Mandatory Rule 410 Self-Disclosure
In order to streamline the process, each party must provide to the other their signed financial statement; federal and state income tax returns for the past three years; all bank statements for the prior three years; documentation relating to the cost and nature of available health insurance coverage; statements from the past three years for all retirement accounts, pensions, IRA's and similar assets; all loan or mortgage applications submitted over the past three years; and any and all financial statements prepared within three years of filing.
Once both parties have completed the automatic discovery process, targeted discovery tools such as interrogatories, requests for production of documents, subpoenas and depositions are employed to discover the answers sought for each side to prove his or her case.
Financial Statements
Both parties to the action must each file either the short-form or long-form version of the Massachusetts probate and family court's financial statement. Those who earn less than $75,000 per year fill out the short form, and those earning $75,000 or more are to fill out the long form.
Income and expenses are calculated on a current basis – as of the date you sign the financial statement. All income and expense figures must be listed on a weekly basis. In order to compute this accurately, divide the monthly expense by 4.33, or the annual expense by 52.
All financial statements, filed by either party, are impounded, kept separate from other public documents in the case, and are not available for inspection. The court and any attorney who has filed an appearance in the case are the only ones who will have access to this information.
How the Court Views Financial Statements
The financial statement is the single most important document presented to the court. It is a handy measure of the litigant's credibility, and a good indicator of the attorney's level of preparation.
Our attorneys micro-manage each financial statement by using footnotes or attachments to explain our client's financial situation to the court. We use averages in order to avoid seasonal or other anomalies. In cases where the total weekly income and the total weekly expenses shown on the financial statement do not balance, we are always prepared to explain how the shortfall is covered, or where the excess is put.
Referrals Tell the Stories of Our Success
We receive many referrals from other lawyers and satisfied clients, including opposing attorneys from former cases – strong indicators of our firm's success. To learn more about how we can help you, contact us at (800) 941-DIVORCE or e-mail us for a free, no-obligation consultation at any of our local offices.
