In some courts, the courts may order the parties to exchange bank statements voluntarily. In some cases, the parties may agree to exchange bank statements by consent. And in other cases, the parties may issue requests for production upon each other to produce bank statements.
In some cases, the parties in a divorce may have jointly titled all their bank statements. In other cases, the parties may have had separate bank accounts during the marriage. This can lead to different levels of concern in some cases — and different levels of need to exchange this information.
What can bank statements show? And why can they be important in a divorce? These are questions many would ask.
As it relates to spousal maintenance and child support, bank statements can show deposits into an account. In cases where the income of the parties is a disputed issue, this can be particularly relevant. This can be particularly true where there is commission-based income, tips, rental income, or income from secondary employment.
Bank statements can also show spending habits. These spending habits can be important as it relates to determining the expenses of parties in a divorce. These expenses can be important as it relates to spousal maintenance. It can also be important as it relates to child support when the expenses relate to the children.
In some cases, the parties might need to show fairly recent bank statements. In some cases, it might be useful to go some period of time backward in terms of looking at bank statements. Different facts can lead to different needs in divorce cases.
If you are going through a divorce or family law matter, Stange Law Firm, PC can help. You can reach us at 1-855-805-0955.