GET THE COMPLETE FINANCIAL PICTURE. KNOW YOUR RIGHTS.
Financial disclosure is an obligation that each party must comply with. That means that both parties involved must produce financial information about their sources of income, assets, and their liabilities.
While the exchange of financial disclosure can be uncomfortable, it is legislated – which means that both you and the other party must exchange it. You will be required to provide:
- 3 most recent Income Tax Returns.
- 3 most recent Notice(s) of Assessment or Reassessment, as applicable.
- 3 most recent pay stubs, if you are an employee.
- The most recent statement you may have regarding income from employment insurance, social assistance, a pension, workers’ compensation, disability payments, dividends, etc.
- If you are a student, a statement indicating the total amount of student funding you have received during the current academic year, including loans, grants, bursaries, scholarships and living allowances.
- If you are a partner in a partnership, confirmation of your income and draws from, and capital in, the partnership for its 3 most recent taxation years.
- 3 most recent financial statements for any business in which you own more than 1% of.
- List of childcare expenses, with receipts, health related, school, extracurricular expenses and post-secondary education expenses for the children.
- If you are a beneficiary under a trust, a copy of the trust settlement Contract and copies of the trust’s 3 most recent financial statements.
- 6 most recent bank account statements for all bank accounts, business, personal and joint.
- 6 most recent credit card statements for all credit card, business and personal.
- A monthly budget of expenses (if you are seeking spousal support).
- Most recent statements for all investments and other debts.
- Most recent pension(s) statement.
- A list of your income, assets, and liabilities (i.e. real estate, vehicles, bank accounts, loans, etc.).
- List of any property owned before marriage, inherited, received as a gift, or received as an insurance settlement or other monetary award from Court.
At GDE FAMILY LAW, we will work with you to ensure that both parties’ disclosure is accurate and complete to be able to resolve all issues, including, child support, spousal support and disposition of matrimonial property.