Dear Friends and Colleagues:
Welcome to the Fall issue of my Newsletter and today’s topic: “Financial Disclosure in negotiating Separation Agreements ( and marriage contracts also!): Why is it necessary?”
CLIENT TO HERSELF: “Why is my lawyer making me prepare financial disclosure when all I need is a separation agreement?”
CLIENT TO LAWYER: “I know what my husband has and he knows what I have. We’ve agreed on how we’re dividing the assets. Just draft it up so we have a legal separation agreement!”
These are comments often made by clients who have retained lawyers to assist them in negotiating a Separation Agreement. Reasons include:
- I (the client) don’t have the time or patience to do this work;
- I don’t want to pay for my lawyer’s time in doing this;
- This is just a make-work project by the lawyers (after all that’s why they’re all rich, isn’t it!); and
- I trust my spouse!
So why is financial disclosure in negotiating separation agreements (and marriage contracts also!), necessary?
Until next time!