Financial Disclosure Statements in an Uncontested Divorce

Can You Finalize an Uncontested Divorce Without Financial Disclosure?

No. In Wisconsin, you generally cannot finalize a divorce without financial disclosure. Under Wisconsin Statute § 767.127, each party must file a Financial Disclosure Statement (Form FA-4139 V) listing all income, assets, debts, and liabilities—even in uncontested divorces. If you fail to disclose fully or timely, the court can treat the other party’s figures as correct, impose fees or sanctions, or establish a constructive trust over undisclosed property if it exceeds $500 in value.

Divorce Without Financial Disclosure

In an uncontested divorce, the parties agree to end the marriage without litigation. Sometimes, they may even have agreed on what each spouse will walk away with from the marriage. This raises a common question: why does each spouse have to share financials with the other?

Why You Need a Financial Disclosure Statement

There are two primary reasons why financial disclosure is required in a Wisconsin divorce.

Reason 1: Legal Requirement

Under Wis. Stat. § 767.127(1), divorcing parties must file a financial disclosure statement, either jointly or independently. The statute requires full disclosure of certain financial details, which may include:

• Real estate holdings
• Savings and checking accounts
• Stocks and bonds
• Mortgages and loans
• Life insurance policies
• Retirement interests
• Business interests
• Debts and liabilities

To make this process uniform, the court provides Form 4139-V, a standard form that covers all of the financials listed above.

Reason 2: Hidden Debt

Debt is another critical factor. Wisconsin is a community property state, which means that:

• Assets acquired during the marriage are considered community property
• Debts acquired during the marriage are also considered community obligations
• Both assets and debts can be divided equally upon divorce

Even if spouses agree to take responsibility for their own obligations, such as student loans, there may still be marital debt that must be identified and addressed.

Full Financial Divorce Disclosure

Even in an uncontested divorce, completing a financial disclosure statement ensures complete transparency. Both parties disclose assets and liabilities, which prevents hidden issues from surfacing later and protects both spouses during and after the divorce.

For more details on why a financial disclosure statement is important, explore our additional resources. You can also review the different divorce packages we offer or contact us today for a 100% confidential consultation with our experienced family law attorneys.