Perspective
Sep. 30, 2014
No duty to disclose finances before divorce petition
Parties can avoid disclosing their financial information to each other before reaching a property settlement if, and only if, they reach it before filing for dissolution of marriage. By Mitchell A. Jacobs and Lauri Kritt Martin
Joy Evans and William Evans married in 1985 and separated in 2007. The two agreed that William would buy Joy out of the family home, their only significant marital asset, and the record reflected both parties assumed it had a net equity of $600,000. And so Joy typed up a "pre-divorce agreement" providing for William to pay Joy $300,000 for her one-half interest in the residence, which both parties signed. A r...
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