Many clients describe the Rule 401 financial statement as "a giant pain," "putting square pegs into round holes," or "the most annoying thing I've ever done in my life." While filling out a financial statement can often be fairly simple, sometimes it can take days or even weeks of work. Filing a financial statement may actually happen many times over the course of a proceeding, and the parties may even choose informally to exchange financial statements on a voluntary basis. Why is it then, that almost every party to a domestic relations matter has to fill out a financial statement?
The Boston Globe's recent request to the Norfolk County Probate and Family Court to vacate portions of an impoundment order issued during Maureen Sullivan Stemberg's post-divorce action in 1990 against her ex-husband, Tom Stemberg (the founder of Staples), and make public the recorded, sworn testimony given by Mitt Romney during the trial highlights how impoundment works in the context of divorce and family law cases in Massachusetts.