If you are going through a divorce or separation in New Jersey, you will undoubtedly come across the Case Information Statement (CIS) during the legal process. It is essentially a document that provides a detailed breakdown of each party’s financial situation, including income, assets, liabilities, and expenses. The CIS is an essential component of the divorce or separation process, and parties are required to fill it out accurately and completely.
If you are unfamiliar with NJ’s Case Information Statement or CIS, this article will give you an overview of everything you need to know.
What is a Case Information Statement (CIS)?
A Case Information Statement is a legal document that outlines a party’s financial status in a divorce or separation case. The document is mandatory in all divorce and separation cases in NJ, and failure to provide accurate and thorough information can negatively impact the case’s outcome.
The CIS contains a detailed summary of the party’s income, assets, liabilities, and expenses. It helps the court understand each party’s financial situation and determine things like alimony, child support, and equitable distribution of property.
When is a CIS Filed?
In NJ, a CIS is filed at the beginning of the legal process, before the first court appearance. Both parties are required to submit a CIS within thirty-five days of the complaint and answer being filed. It is essential to note that the CIS is a living document and can be updated throughout the process if there are significant changes in the parties’ financial circumstances.
What does a CIS Include?
A CIS includes detailed information on the following:
1. Income: This section includes sources of income and the amount of money earned.
2. Expenses: This section includes monthly expenses for things like housing, utilities, transportation, education, and insurance.
3. Assets: This section includes all assets, including real estate, investments, bank accounts, retirement accounts, and valuables like jewelry or artwork.
4. Liabilities: This section includes debts, including credit cards, mortgages, car loans, and other outstanding debts.
5. Budget: A budget shows the total inflow and outflow of money, including expenses and debts.
Why is the CIS Essential?
The CIS is a crucial document, and it serves multiple purposes, including:
1. It ensures equity and fairness in the divorce or separation process, allowing judges to make informed decisions based on a party’s full financial situation.
2. It helps prevent parties from hiding assets, which is illegal and unacceptable in NJ courts.
3. It establishes trust between both parties and their legal representation.
4. It allows for proper planning and preparation for future financial arrangements, such as child support and alimony.
Conclusion
In summary, the Case Information Statement (CIS) is an essential document in New Jersey divorce and separation cases. The CIS outlines a party’s financial situation and helps judges make decisions regarding alimony, equitable distribution of property, and child support. It is crucial for parties to fill out the document accurately and completely to ensure fairness and equity in the legal process. Remember, honesty is the best policy when filling out the CIS and failing to do so can lead to consequences.
