What is financial discovery? And why do I have to do it?

If you are involved in a contested divorce in New York State, you are required to provide your spouse with a massive amount of financial documents. This exchange of financial documents can include bank statements, deeds to real property, credit card statements, retirement account statements, stock certificates and virtually any other financial document imaginable. Moreover, you may have to produce several years worth of these documents. Why is this necessary? The reason all these documents are exchanged is that before a person is forced to make a decision as to how his/her assets will be divided, he/she should know what is there. Often times in a marriage, one spouse will handle the finances and the other spouse will be in the dark as to what the couple owns. The exchange of financial documents ensures that both spouses have an understanding of what is there. Financial discovery is no fun. However, it is a necessary evil. For more information about the divorce process visit: Albany Divorce Lawyers Unrelated link: Albany Criminal Lawyers

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