What Information Are Spouses Required to Disclose in a Texas Divorce?

 Posted on May 26,2021 in Complex Divorce

In order to reach a fair divorce resolution, it is important that both spouses have access to information about each other’s finances. Until recently, the Texas Rules of Civil Procedure addressed this issue by allowing each spouse to request certain information and documents from the other during a discovery period. However, as of January 1, 2021, these rules have been amended to require certain disclosures from spouses upfront, rather than upon request. If you are initiating the divorce process in 2021 or later, you should be aware of your obligations under these updated rules.

Required Disclosures in a Texas Divorce

Whether you or your spouse is the first to file for divorce, you should be prepared to disclose basic contact information including your address and phone number, as well as all of the following financial information from the last two years or since the date of your marriage:

• Information and documentation for any real estate property that you own or rent, including deeds, titles, mortgage agreements, and leases
• Information about your retirement plans and other employee benefits, including statements for IRAs, pensions, 401(k)s, profit-sharing plans, or any other type of plan you may have
• Information about any life insurance, health insurance, and liability insurance policies you hold
• Statements for all financial accounts, including checking and savings accounts at banks or credit unions, credit card accounts, loans, and investment accounts

Additional disclosures are required if your divorce case involves child support or spousal support. These include:

• Information about health insurance coverage for your spouse or child
• The last two years of your income tax returns
• Your two most recent pay stubs

All of this information must be disclosed within 30 days of a spouse filing an answer to a divorce petition, which means it is important for you to act quickly if your spouse serves you with a divorce notice. When you hire an attorney, we can help you understand your rights and duties and prepare the necessary documents for disclosure so that you avoid missing the deadline.

It is important to note that there are certain situations in which making these disclosures could put you at risk of harm from your spouse. If you are filing for an order of protection from your spouse along with a divorce, you may be exempt from some upfront disclosure requirements. We can help you convey your concerns to the court so that your interests are protected.

Contact an Austin, TX Complex Divorce Lawyer

At Powers Kerr & Rashidi, PLLC, we understand that these new disclosure rules take some getting used to and that they place a high demand on you from the start of the divorce process. We will do all that we can to help you respond to these demands in an appropriate and timely manner so that your divorce can proceed smoothly. Contact our Austin high net worth divorce attorneys today at 512-610-6199 so we can get started with your case.

Sources:

https://www.txcourts.gov/media/1450176/209153.pdf

https://www.txcourts.gov/media/1452232/trcp-combined-effective-january-1-2021.pdf