What is a financial affidavit in a divorce?

What is a financial affidavit? Preparing for divorce requires you to gather, organize and prepare a lot of financial information. Your attorney, spouse, spouse’s attorney, and judge are all going to want to know what your lifestyle was like during your marriage.

How to complete your financial affidavit and statement of?

The first step to completing a financial affidavit is making sure you have the proper form. Consult your attorney, or check the family law section of your county courthouse’s website. Make sure you have the right one! That way, you can avoid having to complete this complicated document multiple times.

Can a judge force a spouse to provide financial information?

Judges who preside over divorce cases know that spouses can’t reach fair and informed divorce settlement agreements unless they have all the facts about their marital estates. Family law courts have multiple tools they can use to force spouses to turn over financial information.

Which is the most important part of a financial affidavit?

The income section is usually the most important. Since spousal and child support payments are usually determined based on the incomes of you and your spouse, the income section of the financial affidavit is crucial. While income seems straightforward on the surface, it can be very complicated.

What should I include in my financial affidavit for divorce?

One of the first documents you will complete as part of the divorce process is a financial affidavit. It may also be called a statement of net worth or financial disclosure statement, depending upon your state. Some states even have “short form” and “long form” versions of the financial affidavit, depending on the complexity of your situation.

Do you have to complete a financial affidavit?

On top of that, financial affidavit forms are created by courts. In other words, judges and lawyers contain a lot of jargon, and they are not usually very user-friendly. Not only do you have to accurately complete this complex form, you must legally swear that the financial affidavit is correct.

Do you have to include new spouse’s income on sworn financial statement?

Only include your income. The income of a new spouse does not need to be disclosed on your sworn financial statement. Only include your expenses. Again, if you are remarried, you do not disclose your new spouses expenses, just your own.

Do you have to file a financial affidavit in a dissolution?

While it is in fact true that the literal language of the Family Law Rules of Procedure mandate that all parties in all dissolution proceedings file financial affidavits, an analysis of the pertinent case law reveals that the courts have in significant measure eviscerated the rule.

What happens if you lie in a divorce affidavit?

That means he can’t “accidentally” forget to tell you about the vacation he just charged on your jointly-held credit card or the raise he got three months ago. Anyone who intentionally provides false information on a Financial Affidavit is committing perjury and could face serious legal action.

Do you have to swear on your financial affidavit?

Not only do you have to accurately complete this complex form, you must legally swear that the financial affidavit is correct. If your ex-spouse, attorney, or judge questions an item on your financial affidavit, you must provide proof that it is correct.

What happens if I am wrong on my financial affidavit?

If your ex-spouse, attorney, or judge questions an item on your financial affidavit, you must provide proof that it is correct. So if any detail is inaccurate or missing, it can hurt your divorce case. The stakes are high for the financial affidavit.

When does a person commit perjury in Family Court?

A person commits perjury when they knowingly submit false information in a sworn affidavit in family court. Perjury is defined by statute and states that it is unlawful for “a person to wilfully give false, misleading, or incomplete testimony under oath in any court of record, judicial, administrative, or regulatory proceeding in this State”.

Do you have to swear under oath in a financial affidavit?

A divorce Financial Affidavit is executed under oath, often before a notary public. When you file your Financial Affidavit you must swear under oath that the information you provided is true and correct to the best of your knowledge and belief. Obviously, your husband will have to do the same when he files his Financial Affidavit.

Do you have to file a financial affidavit in a divorce?

In all contested (and some uncontested) divorces, the Courts require each spouse to file what’s called a “Financial Affidavit,” a formal document that details the typical financial factors that play a role in every marriage: how much you earn (income),…

What do I need to file a financial affidavit?

How to obtain financial information in a divorce?

You have other options to obtain financial information besides waiting on your spouse to turn it over. In a divorce, either spouse can directly send a subpoena to third parties with financial information relevant to the case. A “subpoena duces tecum” requires the third-party recipient to turn over documents.

Do you need a financial planner for a divorce?

Most people guess wrong –and usually, they’re wildly wrong. If you’re feeling overwhelmed with the task of completing your Financial Affidavit, consult with your divorce financial planner who will complete a Lifestyle Analysis and the Financial Affidavit on your behalf.

When do you need a lawyer for a divorce?

A lawyer can make sure that you both review and understand anything before you sign or agree. An experienced family law attorney is often a good idea for situations where the divorcing couple has a large amount of assets, property or other complicated financial matters.