Pursuant to New York Family Court Act Section 424-a, both parties are required to reveal their financial information except if the party is a social services official. One document that the court requires from each party is the financial disclosure affidavit. The main categories on the financial disclosure affidavit are
- Income from all sources
- Deductions from income,
- Health insurance
- Unreimbursed health-related expenses
- Child care expenses
- Educational expenses
- Life and accident insurance policies,
- Expenses on a monthly or weekly basis, and
- Liabilities, loans, and debts.
The financial disclosure affidavit must then be signed and notarized by the party who completes it.
Each party must also produce documents to the court to prove their income, which includes a recent pay stub, a recent tax return with all W-2’s, and health insurance information for the party as well as the child if the child is covered under that party’s health insurance. If the respondent fails to provide these documents and the respondent does not have a good cause as to why the documents were not produced then the court “on its own motion or on application shall grant the relief demanded in the petition or shall order that, for purposes of the support proceeding, the respondent shall be precluded from offering evidence as to respondent’s financial ability to pay support.” New York Family Court Act Section 424-a.
If the respondent is precluded from offering evidence as to the respondent’s financial ability to pay child support, then the respondent will not be able to submit any documents to the court regarding his or her financials. This can be harmful to the respondent’s case as the petitioner could potentially state what the petitioner believes the respondent’s income to be, and this could either be higher or lower than what it is. Thus, the respondent should try as best as possible to comply with all of the court’s required financial disclosures as well as all deadlines for submitting or exchanging documents.
Jayson Lutzky gives free initial consultations and can be reached at 718-514-6619. He has been practicing law for over 37 years in New York. His office is located in the Morris Park neighborhood of the Bronx. Visit mynewyorkcitylawyer.com to learn more.