Difference between revisions of "Inventory Affidavit"
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<tr><td style="padding-right:10px"><b>Takeaway</b></td><Td>Each spouse is entitled to the other's financial records.</td></tr> | <tr><td style="padding-right:10px"><b>Takeaway</b></td><Td>Each spouse is entitled to the other's financial records.</td></tr> | ||
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'''Inventory Affidavits''' are forms used to disclose each spouse's property and debt to the court and the other spouse in an [[Equitable Distribution|equitable distribution]] lawsuit. Inventory Affidavits are a mandatory part of the litigation process<ref name="inventoryaffidavit" /> | '''Inventory Affidavits''' are forms used to disclose each spouse's property and debt to the court and the other spouse in an [[Equitable Distribution|equitable distribution]] lawsuit. Inventory Affidavits are a mandatory part of the litigation process.<ref name="inventoryaffidavit" /> Similar financial disclosures are often made in out-of-court negotiations as well. In addition to the affidavit itself, spouses are required to provide extensive financial records to their spouse and to file a "Certification of Initial Disclosures" with the court promising the records were shared. | ||
==Disclosures== | ==Disclosures== | ||
Revision as of 20:58, 11 October 2022
| Inventory Affidavit | |
| Statute: | N.C.G.S. §50-21(a) |
| Description | Inventory affidavits are used to disclose property and debt. |
| Takeaway | Each spouse is entitled to the other's financial records. |
Inventory Affidavits are forms used to disclose each spouse's property and debt to the court and the other spouse in an equitable distribution lawsuit. Inventory Affidavits are a mandatory part of the litigation process.[1] Similar financial disclosures are often made in out-of-court negotiations as well. In addition to the affidavit itself, spouses are required to provide extensive financial records to their spouse and to file a "Certification of Initial Disclosures" with the court promising the records were shared.
Disclosures
Each county courthouse has different rules about what financial records have to be provided along with the affidavit. For example, one court may require bank statements going back three months before the date of separation, whereas another may only require a statement covering the date of separation itself. However, as a general rule, almost every line on the affidavit should have some evidence or records to support the value given to it.
Generally, the value of each item on the affidavit (except for divisible property) should be the value as of the separation date.[2] The page on Equitable Distribution has [[Equitable_Distribution#Categorization|a section about how to categorize property and debt] as "marital," "divisible," or "separate" in the affidavit.
The initial affidavit is not binding at trial.[1] Each courthouse uses different forms for the disclosures and for providing legally binding affidavits prior to trial. If one spouse refuses to provide disclosures, the other spouse can file a "Motion to Compel" asking the court to order the spouse to provide financial disclosures.
Deadlines
The spouse that initially files an equitable distribution claim with the court has 90 days after serving their claim on the other spouse to provide an inventory affidavit. The other spouse has 30 days later to provide their own inventory affidavit.[1]
Local Forms
Each individual county courthouse uses its own inventory affidavit and certification of initial disclosures forms. Additionally, each courthouse often has different rules on what evidence has to be shared. For example, one county may require bank statements covering three months before the date of separation up to current. Another county may only require one current statement and one statement covering the date of separation. Each courthouse uses its own inventory affidavit form.
- Wake County: Form Wake-DOM-19
- Durham County: DUR-DOM-10
Contact an Attorney
This wiki is provided by North Carolina divorce lawyer David King and his firm King @ Law. You can learn more about King @ Law at www.kinglawnc.com. If you are looking to hire an attorney, have questions, or would like to contribute to this wiki, you can contact attorney King using any of the following methods:
- Schedule a Consultation
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- Email: david@kinglawnc.com
- Voicemail: 919 706 5322