Divorce Financial Disclosures: Requirements & Consequences for Non-Compliance in Colorado
In a Colorado divorce, both spouses are required to complete financial disclosures, including the JDF 1111 form (Sworn Financial Statement) and relevant supporting documents like pay stubs, tax returns, and account statements. These documents outline each spouse’s assets, liabilities, income, and expenses, enabling the court to fairly divide assets and debts. Without these disclosures, the court cannot finalize the divorce, leading to delays.
Financial disclosures are mandatory and must be submitted within 42 days of filing the divorce petition. If a spouse fails to meet this deadline, the other spouse can seek compliance through legal remedies, such as the ones listed below, which may prompt court intervention and lead to penalties for non-compliance.
Consequences & Legal Remedies for Non-Compliance
- Motion to Compel: This is a formal request to the court to make the non-complying spouse submit their disclosures. Continued refusal may lead to further penalties.
- Adverse Presumption: If a spouse withholds financial information, the court may assume they are hiding assets, which could lead to an unfavorable outcome for them.
- Exclusion of Evidence: A spouse who fails to submit disclosures may be prevented from presenting certain financial evidence in court, weakening their case.
- Contempt of Court: A judge may hold a non-complying spouse in contempt, possibly resulting in fines or jail time if the issue persists.
- Attorney’s Fees: The court may order the non-compliant spouse to cover the other party’s legal fees due to delays or added costs
Convincing things you could say to your spouse to compel them to complete the Financial Disclosure
Highlight the Legal Requirement and Consequences
“financial disclosure is required by the court for a fair process. If it’s not completed, it could delay the entire divorce and lead to penalties, which could make things harder for both of us.”*
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Emphasize that without full disclosure, the judge may impose consequences that could negatively impact the non-complying party, such as fines, court sanctions, or even a less favorable outcome if the judge presumes they are hiding assets.
Reassure the Need for Fairness
“This form ensures that both of us get a fair outcome by helping the court understand our finances accurately.”
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Explain that the disclosure provides transparency, which is crucial to ensuring each party receives their fair share, especially if there are assets or debts that need to be divided equitably.
Explain How it Benefits Them
“Completing the disclosure helps us move forward more quickly, saving both time and legal fees.” *
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Point out that filling out the form will streamline the process, potentially saving on legal fees and allowing them to move on faster, especially if both parties are cooperative.
Offer Support and Break Down the Process
“I know it’s a lot, but I’m here to help make it as easy as possible. We can go through the steps together.”
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Acknowledge that the process may feel overwhelming and offer to help with organization or filling out the form. Sometimes, reluctance comes from feeling burdened, so offering support can ease the pressure.
Explain the Importance of Accuracy
“This disclosure gives both of us clarity on our finances moving forward, especially if we’re dividing assets or debts.”
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Financial disclosure ensures a clear understanding of each person’s financial responsibilities post-divorce. This clarity can prevent future conflicts or misunderstandings over finances.
Address Privacy Concerns
“I understand this is sensitive information, but it’s only shared with the court and lawyers involved. It won’t be made public.”
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If your spouse is concerned about privacy, reassure them that financial disclosures are typically confidential and are only seen by the necessary parties (court, attorneys, etc.), not the general public.
Emphasize the Need for Closure
“Completing the disclosure helps us both gain closure by getting through this process and moving forward with our lives.”
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Highlight that completing the process fully allows both parties to move on more smoothly and begin the next chapter of their lives without lingering legal requirements.
* This may not be the best approach if your spouse is intentionally trying to delay or avoid the divorce process