If you are going through a divorce in New Jersey, you know that financial paperwork plays a huge part in the process. The Case Information Statement (CIS) and financial statements carry a lot of weight in shaping the outcome of your case.
New Jersey courts use them when making decisions about support, asset division, and financial fairness. Here is a look at how financial statements and CIS forms impact your divorce outcome.
This Is a Financial Snapshot of Your Life
In most New Jersey divorces involving finances or children, both parties must file a case information statement. This outlines income, expenses, assets, and liabilities in detail.
Since judges do not have insight into your day-to-day finances, the case information statement is how you present that picture. It shows:
- What you earn
- What you spend
- What you own
- What you owe
When completed, it gives the court a foundation for decision-making. However, if you leave it incomplete or misrepresent your picture, important details can be overlooked.
Decisions Use CIS Information
Child support and alimony calculations in New Jersey are grounded in financial data, not assumptions. The income and expense figures listed in your CIS and financial statements are used to determine support obligations.
If income is understated or expenses are minimized, support awards may not reflect your reality. On the other hand, overstating expenses or omitting income can raise credibility issues. Judges review these forms regularly, and they can spot inconsistencies. Accuracy matters in these cases.
Full Disclosure Helps with Asset Division
New Jersey follows an equitable distribution model. That means marital assets are divided fairly but not always equally. In these cases, the court needs a complete inventory of marital property and debt. The CIS is the starting point for identifying:
- Bank and investment accounts
- Retirement assets
- Real estate
- Business interests
- Loans and credit card balances
Missing or incomplete disclosures can delay negotiations and complicate settlement discussions. If there are undisclosed assets, they can undermine trust and negatively affect the outcome of the case.
Incomplete or Late Filings May Hurt Your Case
The CIS is not optional. New Jersey courts expect it to be filed on time and completed thoroughly. Failure to comply can lead to delays, limits on financial claims, or unfavorable assumptions about your finances.
Since the CIS is submitted under oath, inaccuracies can also affect credibility before the court. Judges use these statements to make decisions. If there are any inconsistencies, they can weaken your position in the case.
Update Those Financial Changes
Divorce proceedings can take time. However, financial circumstances do not always stay the same. If there is a major change in your life, you may need to file an updated CIS.
Judges compare the original and updated statements to determine whether the changes are legitimate. Once again, they use this information to see whether modifications to support are required. This type of documentation helps make sure those changes are properly considered.
Most New Jersey divorce cases are settled through negotiation instead of a trial. When you have a CIS, that can make those discussions more productive by reducing disputes over basic financial facts.
CIS and Financials Are Needed for Your Divorce Case
In a New Jersey divorce, financial statements and a Case Information Statement play a major role in shaping the outcome. They affect support decisions, asset division, and the overall pace of the case.
Taking the time to prepare a thorough and accurate CIS is not just a requirement; it is a practical step toward protecting your financial interests.
If you are thinking about a divorce or need help with the process, Carvajal Law is ready to help. We can work to find the right option for your divorce or separation. Schedule a consultation today.