We’re excited to feature this article from Susan Harris, LLP, of Aquarian Legal. As a licensed legal paraprofessional, Susan provides trusted guidance in divorce and family law matters, helping individuals navigate the legal system with clarity and confidence. She brings extensive knowledge of Colorado’s divorce process—especially when it comes to financial disclosures, one of the most important (and often misunderstood) parts of the journey.
Colorado divorce financial disclosures are mandatory in every divorce case. The rules state that “parties to domestic relations cases owe each other and the court a duty of full and honest disclosure of all facts that materially affect their rights and interests and those of the children involved in the case.” C.R.C.P. 16.2. It is the Court’s responsibility to enforce this rule and expectation.
The Colorado courts do not like trial ambush. Divorce cases are dramatic enough – judges don’t want any more dramatic flair like you’d see on TV. Instead, divorce courts expect parties to be transparent about their finances and to lay all of their cards out on the table. Otherwise, the court cannot make a fair determination if both parties are not fully informed.
The purpose of financial disclosures is not only to inform the other party but also to inform the court. Knowing what’s required—and why—will help you approach this part of the process with confidence.
The Basics: What is Required for Colorado Divorce Financial Disclosures?
It helps to understand where these requirements come from. Colorado Rule of Civil Procedure 16.2 (C.R.C.P. 16.2) governs court procedures, including mandatory disclosures, for all divorce cases. Form 35.1 is the list of documents that each party must provide to the other. It typically includes:
• The last 3 years of tax returns
• The last 3 years of W-2s
• Recent pay stubs
• Insurance coverage and cost information
• Bank statements
• Debt statements
• And more
Use JDF 1104 to list the documents you are providing to the other party.
One of the most important documents in any divorce case is the Sworn Financial Statement, also required by C.R.C.P. 16.2. To complete it, use JDF 1111 or JDF 1111-SS. The Sworn Financial Statement is your opportunity to tell your financial story to the court. Nearly every number on the statement should be supported by the documents provided as part of your financial disclosures, and those documents should be listed on the JDF 1104.
Do I Really Need to do Financial Disclosures if it’s an Uncontested Divorce?
The short answer: yes.
Even if you and your spouse have an agreement, the Court must be sure that both of you laid all of the cards on the table and are making informed decisions. Colorado divorce courts are tasked with ensuring that any agreement is fair and equitable, but the Court has no way of knowing what bank accounts, retirement accounts, or debts exist unless you disclose them. If disclosures are not completed, then the Court may reject your agreement until it is satisfied that full disclosures have been made and that both parties are fully informed about assets, debts, and income.
Some cases may qualify for a limited exchange of financial disclosures. In order to qualify, all of the following must be true:
1. The parties agree in writing to limit the exchange of financial disclosures;
2. Limiting disclosure will not create a substantial hardship to any party;
3. No party is pregnant and the case doesn’t require child support, a parenting plan, or determining paternity;
4. Neither party is currently seeking maintenance (spousal support);
5. The net equity of all marital assets and debts (NOT including the marital residence) is less than $100,000;
6. The combined debt of the parties (NOT including the mortgage on the marital residence) is less than $50,000; and
7. Neither party has a separate property interest with net equity valued over $10,000, an interest in a pension, or any interest in a trust.
If all seven requirements are met, then both parties must sign an Affidavit in Support of Waiver of Mandatory Disclosures (Form 1372) and must still each file a Sworn Financial Statement. The agreement to limit financial disclosures can be withdrawn by either party at any time.
Financial disclosures may feel overwhelming, but they’re one of the most important steps in any divorce. By being thorough and transparent, you protect yourself, your spouse, and your agreement from problems down the road. Even in uncontested divorces, disclosures ensure that both parties make fully informed decisions and that the court can approve your agreement with confidence.
Financial disclosures may feel overwhelming, but with the right information and support, you can move through them with confidence. We’re grateful to have Susan Harris share her expertise at our upcoming Not Quite Done With Divorce workshop. Join us to hear directly from Susan and other professionals who are here to support you through every stage of divorce—legal, financial, and emotional. You don’t have to navigate this alone—come learn, connect, and feel empowered.
