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What is an Income and Expense Declaration in a Placer County Divorce Case?

| Aug 2, 2013 | Firm News |

In every Sacramento divorce case that involves some form of financial issue (support, attorney fees, payment of expert witnesses, etc), the court will require each party file their Income and Expense Declaration.  Income and Expense Declarations, or I&Es, are very important in Sacramento divorce cases because they give all parties a clear picture of each party’s income sources, living expenses, medical costs, work expenses, and other expected changes in income.

Each party has a fiduciary duty to disclose their income and expenses to the other party in a Sacramento divorce case.  Failure to do so is a breach of this fiduciary duty, and can lead the court to award significant monetary sanctions against the offending party. Also, the I&E is signed under penalty of perjury.  Therefore, it is very important that each party carefully complete their I&E and include all income sources, living expenses, and other expenses.  It is also important that each party include copies of at least the last two months of income statements from each income source, whether it is a job, self-employment business, an unemployment benefit, or a cash only business.

If you are involved in a Sacramento divorce case and there are financial issues of any kind, please consult with our Sacramento divorce attorneys today.  We are experienced in helping parties complete their I&Es and properly disclosing their income.  We offer a free half-hour consultation for interested potentials so please give us a call today.