This is a fairly common question asked by individuals contemplating a divorce. It's also a very good question to ask. New Mexico has a Mandatory Disclosure Rule (NMRA 1-123) requiring parties to disclose certain information within 45 days of service of a petition for divorce. This rule is intended to speed the process up and help litigants save money on the discovery process.
I often don't have to serve discovery on a party because of this rule. The discovery process is expensive and time consuming, and much of the information that is being requested via discovery is already subject to the mandatory discovery rule. There is no need to duplicate this information with a discovery request. Discovery requests should be for information you can not get outside of the request, not information the Court already requires be turned over.
So what type of information must be turned over?
an interim monthly income and expense statement;
a community property and liabilities schedule
a separate property and liabilities schedule
federal and state tax returns
dependent medical insurance premiums
This a pretty comprehensive list of information. It may not be all the information that needs to be gathered and parties may still engage in a discovery process to fill in the blanks. However, for most divorces, I believe this is as far as discovery should go, for reasons of both time and cost.