How To Prepare A Financial Affidavit > Ferraro Law Group, PL

How To Prepare A Financial Affidavit

dollar signIn Florida, the parties are required to prepare and submit a financial affidavit when seeking a divorce. An affidavit is a sworn statement, that the information contained therein is true and accurate. When divorcing, it is crucial to provide accurate information to the Court and to your ex-spouse. Anything less than full disclosure can cause serious consequences and may lead to undesirable results.

The form for the financial affidavit is provided by the Court, and completed by you along with the assistance of your attorney. There is a short form (for cases where income is under $50,000.00) and a long form. The long form is used when income exceeds $50,000.00 per year. Some things to consider when filling out either form are:

● Monthly Income: regardless of your pay frequency, the form calls for a report of monthly income and you should convert your pay to a monthly figure.

● Monthly expenses: your monthly expenses are reported in much the same way as is your monthly income. If you have expenses that occur weekly, you will need to convert those amounts to a monthly figure.

The meat of this form is the requirement to report assets and liabilities as well as your income and expenses. This requires you to disclose all banking and savings accounts, retirement funds, real and personal property, antiques and other collectibles. The key is to be honest, but not to oversimplify or “pad” your affidavit. An experienced attorney can help you identify what items are required and how to report things such as overtime or bonus pay. A solid financial affidavit is the first step towards building a strong case.

For more information about financial affidavits and divorce, contact a Stuart and Treasure Coast family law attorney with experience. The fee for your fist visit is a flat fee and we work with you for a cost effective result.