Claiming Assets in a Divorce

Each party in a divorce is required to file a Financial Disclosure Statement listing all known assets and liabilities. A person can be charged with false swearing or be held in contempt for knowingly filing a false statement. This is a fairly standardized form in West Virginia that requires copies of recent Federal Tax Returns, W-2’s and recent employment pay stubs be attached.

Normally all interest accumulated during the year is listed on a tax return, together with information regarding other sources of income. A person’s pay stubs reflect deductions to savings plans, retirement plans, IRAs, insurance, etc. Going through bank statements can give people a wealth of information concerning loan payments and various account information. Lastly, it seems like a lot of people don’t like to be bothered, it is imperative that you make it your business to know your finances during marriage.

-Steve Taylor