June 15, 2010 § 2 Comments
The chancery judge in an irreconcilable differences (ID) divorce is required by law to make a determination about the sufficiency of the provision for support of the minor children. Different chancellors approach the task in different ways. Some judges require a complete Rule 8.05 financial statement from each party. Some judges take the word of the attorney or litigants.
In District 12, you are required to include some specific information about income of the paying parent. The property settlement agreement must include information showing gross income and deductions for taxes, Medicare and social security for year to date for the paying party, in the form of a pay stub attached to the agreement or a recitation of the actual figures, including monthly and year-to-date figures, in the body of the agreement; in the alternative, a statement satisfactory to the court as to why such information is not available. If the pay stub is attached, the agreement itself must include a provision that both parties have seen and are satisfied with the accuracy of the document. If the required information is not included, the agreement will not be approved.
As for Rule 8.06 disclosures, all current required information for both parties must be set out in the body of the agreement or in any attached visitation schedule. So the property settlement agreement must include the current names, addresses and telephone numbers of both parents and include the standard language informing the parties of their continuing duty of disclosure.
Practice Tip: Change your property settlement agreement forms to include the required language.