Learn More Filling out your financial declaration It is up to you to report correct information, and then follow your attorney’s advice on how to present it to the court. Unfortunately, this is one area where your attorney can only help you so much - they do not have an inside look into your earnings and expenditures over the past several years. The purpose of gathering all of this documentation is not only to ensure you are truthfully representing your monthly income and expenses, but to also provide the ability to back up your claims if the opposing party questions the accuracy. Loan information - this includes auto and personal loans that have been opened or closed within the past 12 months of filing.īills - collect several months’ worth of bills, including but not limited to, utilities, cable, Internet, cell phone, medical, day care, pet care, car repair, etc., to help determine an accurate figure for your average monthly expenses. Real estate information - make copies of any and all real estate documents that include the value of your home, such as the most recent appraisal or refinance documentation. Pay stubs - gather pay stubs for the previous 12 months from any job you may have held, both full- and part-time.įinancial statements - this includes statements from checking and savings account, credit cards, investment accounts, retirement accounts, etc. If you own a business, you will likely need to provide copies of your business’ returns as well. Tax returns - you will need copies of both federal and states tax returns for at least the previous two years before the divorce was filed. However, there are several common documents that you can compile early in the case to make your life a little easier when it comes time to fill out your financial declaration. What you need to include in your financial declaration will depend on your individual circumstances, so ask your attorney for a complete list based on your situation. It may be extremely tedious to track down everything you need, but a common reason many people run into trouble on their financial declaration is due to making wild guesses instead of taking the time to confirm that the information is accurate. If it is discovered that you deliberately mislead the court regarding your financial status - perhaps you owned an asset you didn’t think your wife knew about - it can result in major penalties ranging from a simple slap on the wrist to jail time depending on the severity of the deceit and how it impacted the case.Įven accidental omissions or misrepresentations on your financial declaration can affect your divorce, resulting in lost credibility with the judge, inequitable distribution of property or support obligations that are more than you can handle.įor this reason, it is crucial that you gather documentation or supporting evidence to verify any expenses you claim. įirst of all, the financial declaration is considered a sworn statement under penalty of perjury. This document will be used to determine how a number of issues in your case are resolved, such as the need / ability to pay spousal support, child support, attorney fees and property division.ĭue to the extensive list of areas this document affects, it is imperative that you pay close attention to even the most minor of details when you are filling out your financial declaration. No matter what your state calls it, however, the form boils down to the same purpose - giving the court an accurate overview of your monthly income and expenses via an itemized list of earnings vs. Like most aspects of divorce, there will be differences in the forms, process and even what it’s called depending on your location - you may have to submit a Financial Declaration, Financial Affidavit, Statement of Net worth or some other variation based on where you live. It is crucial that you are upfront and honest with your financial declaration, as omissions - whether intentional or accidental - can result in damage to your credibility, court-issued penalties or financial obligations you cannot afford. One of the first (and arguably most important) tasks in the divorce process will be filling out your financial declaration, which provides the court an overview of your monthly income, bills and general expenses.Įach party is required to submit their own affidavits, and the judge will use these documents to determine a variety of issues in the case. If you have not done so already, you need to begin the legwork of gathering important documents and evidence to help build your side of the case. After you have filed and served your spouse with divorce papers, the clock on your proceedings officially begins ticking.
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