So let me start by saying that we do not give legal advice. But, I had a client ask me if it was necessary to state if you have assets and debts if both spouses are in total agreement regarding their assets and debts.
Here is what I stated. Nobody but the two of you know what you guys have. I don’t know and the Court does not know. If you don’t disclose your assets and debts, nobody is going to know. You will be signing a documents that says you complied with this requirement. The problem is that if you later have a disagreement with your spouse regarding the disposition of assets and debts you will have a court order from the divorce that does not indicate anything.
Watch the video or listen to the podcast where I explain.