Family Law Financial Affidavit Short Form

While it may seem intimidating or unnecessary to take the time and energy to accurately prepare your financial affidavit, unfortunately, many clients harm their own case by not taking the time and effort to provide this information thoroughly. In most cases, it`s a good idea to review the other party`s financial affidavit with your lawyer for possible errors. The other party may be able to underestimate their income or increase their monthly expenses in an attempt to reduce or avoid child support or child support. Lawyers may not spot mistakes that aren`t obvious because they don`t know your finances or those of the other party. It should also be noted that the financial affidavit must be completed under oath that the information contained in the affidavit is true. Lying on the form is considered perjury, which is a criminal offense. Lying on an affidavit also exposes you to dismissal by cross-examination by opposing counsel and destroys your credibility in court, which will only hurt your case. Any questions you may have while completing these forms should be discussed with your lawyer. The purpose of the financial affidavit is to determine the income, assets, liabilities and expenses of each party, including expenses for minor children that the parties have in common or for minor children from previous relationships. This information is needed to determine child support and the division of property during a divorce, as well as to determine child support. In the case of child support, the court is required to take into account the maintenance needs of each party as well as the solvency of each party. The calculation of family allowances requires the income of both parties. Here at My Florida Family Law Firm, we take the time to understand not only your finances, but also those of your spouse accurately and completely.

We review financial affidavits and all documents provided throughout the investigation process to determine what you are entitled to for child support, child support, and asset and liability allocation. We also develop a strategy for your case, based on your feedback and what is important to you. Call us today for your free 24/7 consultation at 407-872-0303 or 352-357-4084. The information required to properly complete an affidavit may be complete. The first section that needs to be completed is the income part. Each party must disclose the amount and source of all income it receives. Income must be reported as a monthly amount. If income is not received monthly, the party would have to calculate what that amount of income would be if it were received on a monthly basis. It is very important to make these calculations accurately, and it is equally important to check the other party`s financial affidavit for errors or inaccurate information. For example, if a party receives $2,500.00 every two weeks, it will multiply the amount it receives every two weeks ($2,500.00) by the number of times it would receive in a year (26 times) to receive the annual amount it receives. Here, the annual amount would be $65,000.00.

Then divide the annual amount of $65,000.00 by 12, since there are 12 months per year, and the result would be $5,417.00, rounded up to the nearest dollar. This would be the monthly wage income of a person who receives $2,500.00 every two weeks from their employer. While this may seem like a simple concept, it`s not uncommon for people to fill out their financial affidavits incorrectly. In this example, the party that receives $2,500.00 every two weeks can expect to be paid twice a month. With these calculations, they would be paid 24 times a year, not 26, and their reported income would be inaccurate by about $5,000. Other fluctuations in income need to be taken into account, for example, if you work in an industry where the business varies greatly with the seasons and this affects your income, it would be best to look at the earnings of the last year, as opposed to what you are in the last six months or the current month you are in. won. The second section that needs to be completed is the expenditure section.

Like income, all expenses should be calculated to reflect the average monthly amount of each expense. For example, if you pay $400.00 per quarter for HOA fees, you report monthly expenses for HOA fees of $100.00. All expenses must be included, including expenses not listed on the form. Expenditure on minor children is also broken down separately in this section. It`s important to be accurate when calculating your monthly expenses. You should also be able to provide supporting information or evidence to verify your expenses if they are disputed by the other party. For example, if you have stated that you spend $100 per month on clothing, you should have receipts or purchases at clothing stores for that amount on your bank statements to support this claim. If you notice an expense in the other party`s financial affidavit that you believe is inaccurate, let your lawyer know. Financial affidavit in family law Short Form of Instructions. This is a Florida form and can be used in family law nationwide.

In most family law matters, including divorce, child support cases, and changes to child support or child support, each party must complete a family law affidavit. An affidavit is generally not required for adoptions, restraining orders and uncontested divorces. The financial affidavit is a standardized form created by the Florida Supreme Court. There are two different versions of the form: a short form and a long form. Parties with a total gross annual revenue of less than $50,000.00 may use the short form, and parties with a gross total annual income of $50,000.00 or more must use the long format. I am in the process of divorcing and my lawyer has just given me a form called a financial affidavit. This information is very personal and providing all my financial information does not seem relevant to the actual divorce proceedings. Do I need to complete this affidavit and what is the purpose of the financial affidavit? In the income section, you also need to calculate the total number of monthly deductions that reduce your gross monthly income. Most of the information about these deductions can be found on your payslip or from your employer. To make sure you`re reporting these numbers accurately, it may be helpful to look at a year`s payroll.

Once the total amount of eligible monthly deductions is determined, this amount will be deducted from your gross monthly income previously calculated to reach your net monthly income or the amount that goes “into your pocket” each month. Download the free PDF print OR purchase the interactive PDF version of this form The last section to fill out is the Active and Passive section. Essentially, anything that has monetary value, tangible or intangible, should be included as an asset. It can be helpful to take a physical tour of the house, if possible, or a mental walk, if not, to think about everything you and your spouse have. When determining the value of things, the most accurate value is the one at which you could probably sell the item. Liabilities and debts include mortgages, loans, credit cards, credit cards, money you owe to others, monetary judgments against you, etc. If property is not mentioned during the divorce proceedings, the parties may need to apply for a variation of the final judgment to determine who should receive the property, determine among themselves who should receive the asset, or the asset may be placed in a category such as “jewellery” that is loaned to a spouse if the spouses would have preferred it, to treat a particular jewel separately.