Filing Your Financial Affidavit

One of the first steps toward a dissolution of marriage is the required filing of a financial affidavit. After your attorney takes your case, he or she will provide you with this form to fill out and from all appearances, it seems quite simple, but it is very important that the information contained there is as accurate as possible as this is going to be the very basic element of resolving issues of child support, alimony, and the distribution of the family’s assets and liabilities. It is not just a listing of your expenses and income, but the document that the court relies upon to begin the process of determining the issues of support and equitable distribution. Of course this is simplifying matters, but the basic idea is that without this required document, the parties are unable to determine the overall financial picture of the family. Who gets this and who is responsible for that? It is very detailed and it asks about everything from your expenditures for your home, including repairs and maintenance to things like pet expenses. Don’t delay this process as it is required. In many complex cases an accountant may be needed to assist in the preparation of this document, but ultimately, the responsibility is on the parties. So ask questions and gather your documentation to make this as simple and as smooth as possible.