Financial Affidavit Form

A financial disclosure affidavit shares important details about your financial situation. Courts often need this form to make fair decisions in cases involving property division or debt. Here are some circumstances when you may need to fill out a financial affidavit.

Divorce Proceedings

You may need to fill out a financial affidavit for divorce when you or your spouse file a petition for divorce. This form gives the court a clear picture of each person’s income, expenses, debts, and assets. It helps the judge make fair decisions about things like dividing property, setting alimony, and deciding child support.

In most cases, courts require each person to submit their financial affidavit shortly after filing or responding to the divorce petition. Check your state’s rules to find out the exact deadline.

Child Support and Custody Cases

A financial affidavit for child support helps the court understand each parent’s financial situation. This includes their income, expenses, and other financial responsibilities. The court uses this information to decide how much each parent should contribute to supporting their child.

Even if the parents were never married, the court may still require both to complete a financial affidavit. It ensures that support amounts are fair and based on what each parent can afford. Parents may also need to update their financial affidavit if they want to change an existing child support order.

Alimony Cases

Alimony usually comes up during a divorce, but it can also apply in other situations. For example, a legal separation, an annulment, or the end of a civil union can result in one partner needing financial support from the other.

A financial affidavit for alimony gives the court a clear picture of each person’s income, expenses, and financial needs. This helps the judge decide if support is needed, how much, and for how long.

Prenuptial or Postnuptial Arrangements

Before signing a prenuptial or postnuptial agreement, both spouses may fill out a financial affidavit. This helps each person understand the other’s income, debts, and assets so they can make fair and informed decisions about dividing property or support if the marriage ends.

Bankruptcy

A bankruptcy court may also request a financial affidavit from someone experiencing bankruptcy. As with family law matters, courts review your assets and debts, income, and expenses to choose the appropriate way to resolve a bankruptcy matter.

Legal Aid Requests

A financial affidavit may be necessary if you apply for legal aid or a public defender’s services. The US Constitution guarantees legal representation in criminal cases, even if you can’t afford an attorney [1] . In this situation, a court may ask you to provide financial information to determine whether you qualify for paid legal services.

A financial disclosure affidavit doesn’t just list numbers; it creates an honest picture of your financial life for the court. Whether you’re handling divorce, child support, or another legal matter, this form can carry real weight. Taking the time to complete it carefully helps ensure your voice is heard when it matters most. Follow these steps to get started.

1. Fill Out Affiant Information

Fill out your information as the affiant, or the person making the sworn statement. Include your personal information, such as your full name, date of birth, address, and Social Security number.

2. Add Employment Details

If you currently have employment, provide the following details about your position:

• Employment status (full-time, part-time, etc.)
• Your title
• The company that employs you
• Your employer’s address
• Your pay rate and frequency

Name a secondary employer and clarify if you’re self-employed.

3. Describe Other Income Sources

If you receive any other income sources besides your salary or wages, list them on your form. These sources outside your current employment could include child support, alimony, Social Security benefits, unemployment, rental income, or interest from investments.

4. Record Your Gross Income

Record your gross monthly income by adding up all your income sources. Your gross income should be from any source before you account for taxes and deductions.

5. List Your Deductions

Your deductions are the figures you subtract from your gross income every month. Deductions can include the following:

• Federal & state income tax
• Social security
• Medicare
• Health insurance
• Union dues
• Mandatory retirement contributions
• Child support
• Life insurance premiums (to secure child support)
• Alimony/spousal support

State the amount in the affidavit if you have any of these as deductions in your monthly income. Once you know all your deductions, you can subtract them from your gross income to produce your net income. Record this figure in the appropriate blank.

6. Record Your Expenses & Assets

Examples of monthly expenses include:

• Household expenses: Rent or mortgage, real estate taxes, property or renter’s insurance, homeowner’s or condo dues, utilities, and groceries.
• Transportation expenses: Car payment, gas, car insurance, maintenance and repairs, public transit, and parking.
• Personal expenses: Insurance premiums, uninsured medical expenses, clothing, and childcare expenses.
• Loans and other debts: Student loans, car loans, and credit card payments.

Once you add your expenses, record the total in the affidavit. You should also account for your assets, which are things you own that you can convert to cash. List them similarly to your expenses and include their total cash value.

7. Sign Your Name

You must sign your name before a notary public. The notary will confirm your identity and ensure you understand the purpose of signing the document.

View a free financial affidavit form to understand how to disclose your finances in different scenarios. Then, fill out your own form via our template and download it in PDF or Word format.

Once you fill out a financial affidavit, you’ll submit it to the court or whatever party requested it. Depending on the information you report, you may need to submit more documentation with your affidavit. This documentation may include recent income tax returns, pay stubs, proof of income, bank statements, or other documents supporting your claims.

Once you submit the affidavit and supporting documents, court proceedings can begin. In many cases, both parties can negotiate certain terms outside of court or during mediation. If they reach an agreement, the court can approve it. Otherwise, a judge will decide how to fairly divide property, assign financial responsibility, or determine support payments. After the court issues its order, both parties must follow it and respond to any required updates or modifications.

A financial affidavit ensures fair legal decisions regarding spousal support, child support, and asset division by providing a clear picture of your financial situation. Legal Templates makes the process simple, allowing you to fill out your affidavit at your own pace. Our easy-to-use template ensures that your financial disclosure meets legal standards, helping you move forward with confidence.