Each couple has their own ways of managing their assets, which may include financial and other forms of assets such as properties, equities, and other investments. That said, there are couples who choose to manage these assets by maintaining them individually as they please. In such a case that a married couple divorces, they will need to disclose these assets so that the court will be able to make a fair decision.
What if your ex-spouse isn’t disclosing these statements? Do you really have to provide this information to the Texas court during a divorce? Would there be a penalty if the spouses hid their assets from each other? These are the questions that we will be exploring in this blog post.
Do you have to provide bank statements during a divorce?
According to the Texas Family Code, the two parties are required to fully disclose all of their assets, whether any of these assets are owned individually or owned together. By providing a full financial disclosure, the court will be able to arrive at a decision fairly and based on the full facts provided.
However, there are cases where one of the parties isn’t observing the full disclosure of their assets, let alone their bank and other financial statements. In such a scenario, you can approach your attorney to help you create a discovery request.
What is a discovery request?
A discovery request follows what is stated in the Texas Rules of Civil Procedure. According to the rules, the parties to a case, such as a divorce, are entitled to any information that is considered to be important to the case.
If you feel that your ex-spouse is withholding relevant information, like bank and other financial statements, a discovery request may help your case proceed and be heard fairly.
Once your discovery request for these documents have been approved by the court hearing your case, the other party is required to respond with the documents requested within 30 days.
In case your spouse still doesn’t comply, your divorce attorney Fort Worth can put forward what is called a motion to compel or even further, a bank subpoena.
Is there a penalty for hiding assets during a divorce in Texas?
Sometimes, despite being court-ordered, your discovery request will be ignored by the other party. When this happens, your divorce attorney can go even further and submit a motion to compel or a bank subpoena.
In the video, Atty. Tyler Monahan explains that these two court orders, namely, motion to compel and bank subpoena, are both steps further to the discovery request.
A motion to compel, according to the Texas Rules of Civil Procedure is a court-ordered motion that ultimately requires the other party to carry out a particular action. A motion to compel carries with it a penalty if ignored that could include sanctions and other attorney’s fees. On top of that, your divorce attorney may also move forward with requesting for a bank subpoena.
When requesting for a bank subpoena, Mr. Monahan explains in the video that it has to be issued to the correct institution and correct person in line with what is stated in the Texas Finance Code and Texas Family Code.
Hire a divorce attorney in Fort Worth, Texas
Procuring the documents necessary during your divorce is necessary. After all, the goal is for your case to be heard and tried fairly. If the other party doesn’t comply, there are various ways that a court can intervene in order to obtain these relevant documents.
By hiring a divorce attorney in Fort Worth, Texas you will be able to receive help in motioning the court to help your case. With the help of an experienced divorce attorney, relevant documents can be obtained for review through the help of a discovery request, a motion to compel, or a bank subpoena.
Certainly, there are other various motions and requests that can be put forward. Schedule a free consultation with Turner-Monahan, PLLC. today to see how we can help you move your case forward.
