As part of the Mandatory Disclosures of family proceedings is the financial statement or financial affidavit. In today's blog we are going to be talking about this particularly important document in family cases, especially in divorces and cases of paternity and child support. The explanations that we will be giving below constitute the current law of the state of Florida, if you are a resident of another state, contact an attorney licensed to practice in your state of residence, as the laws may be different.
The financial statement or financial affidavit is a document that both parties to a family proceeding must submit. The objective of this is for the parties to declare their income, financial assets, as well as their debts, and expenses, so that they can be considered when calculating the financial obligations for which the parties will be responsible once the process is completed; by financial obligations we are talking about alimony between spouses, and / or child support or alimony to minors. This statement will also be used to divide the assets that make up the matrimonial community of assets, assign debts, among other financial actions that are taken in family proceedings. As we mentioned before, this document is part of the mandatory disclosures, and both parties are obliged to present it within the time established by law. Neither party is exempt from filing, and failure to provide it on time could result in penalties from the court. The state of Florida has two standardized forms of financial declaration, with the aim of simplifying the information when it comes to processing. The first form, or the short form, is used when the parties to the process earn less than $ 50,000 a year. The long version or long form is used by those parties whose income is greater than $ 50,000 per year. It is quite common for one of the parties to request the long form of the financial statement from the other during the discovery phase of the process, even if their income is less than $ 50,000. This is because the long form it will contain more information, and therefore it will be of greater use, especially in contentious proceedings, where the parties cannot reach an agreement. Completing the financial statement or financial affidavit can be overwhelming. Both ways require that income, deductions from income, expenses, assets, properties, debts be calculated, including debts from credit cards, mortgages, student loans, among others. It is extremely important that the information you provide in your financial statement is true and correct. An error in the declaration could cost you dearly, either in higher payments than they should have, or in penalties from the court. Remember that this is a document that is signed under oath, and if the information is not true, you could be charged with perjury. If you need help with your family case, call us today. In Y. Morejon Attorney, P.A. we work family cases and can help you simplify yours. Let us do the hard work for you. Call us and get the first free consultation. In Y. Morejon Attorney, P.A. your problem is our problem.
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