Do I have to disclose all assets during a divorce in Montana?

If you are going through a divorce, you must disclose everything that you own in an Income, Expense, Asset and Liability Disclosure Statement.

Full disclosure of all income and expenses is required by law.  It doesn't matter if you have been living together for 20 years and are now getting divorced. Everyone has to fill this statement out, providing full disclosure.  This ensures that property can be divided equitably, as required in Montana.

Full disclosure is covered by section: MCA Section 40-4-253.

Each party must serve on the other party a final declaration of disclosure and a current income and expense declaration, executed under penalty of perjury:

(i) before or at the time that the parties enter into an agreement for the resolution of property or support issues, other than pendente lite support; or
(ii) in the event that the case goes to trial, no later than 45 days before the first assigned trial date.
The parties are allowed, by written stipulation or by oral stipulation made in open court, to change the time that they exchange the final declarations of disclosure, as long as they are in agreement.

The final declaration of disclosure must include all material facts and information regarding:

• characterization of all assets and liabilities;
• valuation of all assets that are contended to be marital or for which it is  contended that the marital estate has an interest;
• amounts of all obligations that are contended to be marital obligations or for which it is contended that the marital estate has liability; and
• expenses and earnings and accumulations of each party that have been set forth in the income and expense declaration.

Along with this final declaration of disclosure, each party must serve on the other party an updated income and expense declaration unless a current income and expense declaration is on file.