![]() ![]() ![]() ![]() 460, 642 A.2d 1361 (1994) (where financial statement is required by law, parties have ongoing duty to keep statement up to date) Walles v. Indeed, some states even require that this information be updated annually, even after the support order is entered. The parties must, by the use of mandated forms, disclose income and certain expenses. In a family law case, unlike other civil cases, a certain amount of disclosure is required by rule of court. Unusual assets that can be equitably divided include frequent flyer points, points for hotel programs, country club memberships (including golf clubs, swim clubs, tennis clubs, etc.), credit card points, season tickets to sporting or cultural events, equity in automobile leases, transferable government permits (e.g., Individual Fishing Quotas, taxi medallions), general powers of appointment, accrued vacation or sick time, book royalties less future postmarital marketing efforts, and, in some states, celebrity goodwill.įamily law practitioners must also learn not to be constrained when it comes to looking for income for purposes of spousal and child support. © 1998 National Legal Research Group, Inc.įamily law practitioners have learned not to overlook unusual assets purposes of equitable distribution. Divorce Source: FINDING HIDDEN SOURCES OF INCOME FOR SUPPORTīEYOND THE 1040: FINDING HIDDEN SOURCES OF INCOME FOR SUPPORT ![]()
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