Family Law Financial Affidavit Form 12.902(B) or (C)
A Financial Affidavit is a sworn statement that contains details about your income, avails, debts, expenses, and other financial obligations. Financial Affidavit forms are most commonly used during divorce proceedings to help the court calculate spousal or child support.
The financial details disclosed in a Fiscal Affidavit must be consummate and accurate or you hazard being penalized for perjury.
- What is a Fiscal Affirmation?
- When a Financial Affidavit is Needed
- Consequences of Not Having a Financial Affidavit
- Common Uses of a Financial Affirmation
- What to Include in a Financial Affidavit
- Financial Affidavit FAQs
1. What is a Fiscal Affirmation?
A financial affidavit is a legal document detailing the signer'southward financial circumstances. Like other affidavits, a fiscal affidavit is a sworn statement. The signer affirms and represents the contents are a true and consummate representation of their fiscal situation to the extent the situation is detailed in the affirmation. Not all financial affidavits incorporate the aforementioned data.
Of class, depending on the purpose of the affidavit, more than or less financial information may be required. As a general rule, income and revenue are considered essential when calculating a kid support obligation, where expenses are generally not. Consequently, a financial affirmation in a child support proceeding may not crave a detailed listing of debts and expenses.
Defalcation, on the other hand, looks at your entire fiscal situation, and thus, may require more information. A financial affidavit will identify the post-obit elements:
- Affiant: the person making the affidavit.
- Employer: the name and address of the person or company employing the affiant.
- Sources of income: all sources of income of the affiant, including; rental, investment, self-employment, unemployment, or inability income.
- Bacon deductions: the monthly deductions from the affiant's salary, including; federal income tax, social security, land income revenue enhancement, medicare, health insurance, and more.
- Monthly expenses: the monthly household expenses and liabilities for the affiant, specifically; mortgage payments, utilities, gas, automobile insurance, property taxes, rent, and more than.
The information required varies slightly based on the reason for the affidavit and the jurisdiction.
As a reference, financial affidavits are also referred to every bit:
- Financial Argument Affidavit
- Financial Disclosure Affidavit
- Financial Affidavit for Support
- Family Police Financial Affidavit
- Affidavit of Fiscal Information
- Confidential Financial Affirmation
Financial Affidavit Sample
You can use our free templates (Discussion & PDF) to make a sworn argument about your financial situation.
Financial Affidavit
To generate a custom course, yous can besides utilise our document builder to create your financial affidavit.
2. When a Financial Affidavit is Needed
Because an affidavit is considered equivalent to sworn testimony, a fiscal affidavit may be used whatever time testimony about fiscal circumstances might be offered. In other words, financial affidavits are by and large required for things related to the judicial arrangement. They are relied upon by the courts as a substitute for live testimony.
The purpose of a fiscal affidavit is to provide the court with a snapshot of your current fiscal situation. The courtroom then relies on this snapshot when making legal decisions virtually your future. The decision could exist about child support, pension, or the partitioning of assets in a family police force matter. The decision might be about whether you qualify for costless legal services in a criminal matter.
Alternatively, a financial affidavit may be relied upon in order to determine whether to waive fees most people pay in the court system, such every bit filing fees, transcript fees, or experts.
If the court requires a financial affidavit, presume there is a reason for this, and brand sure you have i!
3. Consequences of Not Having a Financial Affidavit
In any case where a financial affidavit is requested, yous should keep in mind the courtroom needs this information in order to make a just and equitable determination. Without an affidavit, you take a chance opening yourself up to several issues. Outset, the court may require you to take the stand and show under oath. In this case, y'all would exist expected to reply the very aforementioned questions the affidavit seeks to answer, such as:
- How much money do y'all make?
- Do you take whatever assets?
- Practise you have any other sources of income or revenue?
- Are you receiving or paying child back up or alimony?
- What are your expenses?
- What are your debts and other obligations?
Alternatively, not having an affidavit may result in just not obtaining the service or relief sought. On the other paw, the failure to consummate the requested affirmation may result in a court guessing at your financial circumstances.
This rarely results in a decision in your favor. Finally, if financial data is required, in a situation such as determining how much you owe in child support, refusal to provide the data, either in the form of testimony or an affidavit, could result in a finding of antipathy of court.
Whatsoever time the court inquires nigh your financial circumstances, it is essential to be complete in your answers. An affirmation is the same every bit sworn testimony, significant it is a commitment to tell the truth, and can result in perjury charges if it is plant you accept lied.
4. Mutual Uses of a Financial Affidavit
Financial Affidavits can exist used in a variety of legal situations where a court needs to take a look into your finances in social club to resolve a child back up allocation, divorce settlement, and even in some criminal cases.
- Family Law: The most common situations for a fiscal affidavit involve family unit law issues. For case, if you divorce, a financial affidavit provides you, your soon to exist ex-spouse, and the court, with necessary information. This allows you to negotiate, or the court to decide appropriate property sectionalisation, alimony, and child back up. Fifty-fifty in child support cases where the parents were never married, courts rely on a financial affidavit in allocating degrees and amounts of fiscal responsibility of each party for the support of a child in common.
- Bankruptcy: Financial affidavits may also be used in bankruptcy court. As with family law matters, courts review your avails and debts, income and expenses, in determining the appropriate way to resolve a bankruptcy affair.
- Legal Assistance: Finally, a financial affidavit may exist required if you apply for the services of a public defender or legal aid. The United States Constitution guarantees legal representation in criminal cases, even if you can't beget an attorney. If you are in this situation, you may exist asked to provide financial data to make up one's mind whether you qualify for an attorney paid for by the state or county where the alleged crime occurred.
What if I can't afford the filing fees?
If you want to file a lawsuit, but cannot afford the filing fees, yous tin file "in forma pauperis." This filing tells the court yous don't have the fiscal means to pay for court fees such as filing fees, or the price of a transcript, or hiring an good.
This tin be done in both civil and criminal matters, including criminal appeals in country and federal court. Your representation, along with a financial affidavit to support your position, are reviewed to determine whether yous encounter local government guidelines for assistance.
Whatsoever time the court inquires about your financial circumstances, it is essential to be complete in your answers. An affirmation is the same equally sworn testimony.
v. What to Include in a Financial Affidavit
As a preliminary affair, a fiscal affidavit includes personal data. This can include name, accost, telephone number, social security number, and date of birth. Depending on the purpose of the affirmation, it as well asks for income, other sources of acquirement, assets, debts, and expenses (detailed beneath).
Additionally, because the purpose of the form is to provide the courtroom a film of financial circumstances, in some cases you can expect the form volition inquire about who else lives in the household, and who else you lot are financially responsible for. It may as well ask for data about the income and obligations of others in the household, such as a spouse. Beneath is a non-exhaustive listing of income, revenue, assets, debts, and expenses.
| Category | Examples |
|---|---|
| Income | Salary; Hourly rate of pay; Committee; Overtime; Alimony; Tips; and Bonuses. |
| Other sources of revenue | Regime assistance, such every bit food stamps; Rental income; Dividends; Alimony; and Retirement income. |
| Assets | Dwelling house; Real estate; Family heirlooms; Electronics; Computer equipment; Musical instruments; Fur coats; Precious metals; Collections such as coin collections, stamp collections, or baseball game cards; Jewelry; Vacation homes; Boats; Cars; Snowmobiles; Motorcycles; ATV's; Motor home; Inheritance; Stocks; Bonds; Investment portfolios; Vacation time shares; Art; Antiques; and Other items of value. |
| Liabilities or debts | Loans; Second mortgages; Lines of credit; Personal loans owed to family or friends; Student loans; Credit menu debt; Tax debts; and Judgments. |
| Expenses | Courtroom ordered child back up; Court ordered alimony; Bills associated with running a household. |
The person detailing their financial data must sign the document earlier a notary public. A notary public must also sign the affidavit and braze her stamp. This notarizes the document. While the table above distinguishes between income and assets, not knowing whether something is an nugget or income is non equally important every bit reporting the income or asset.
If you are unsure if something is a debt or an expense, or income equally opposed to an asset, just be sure to list it somewhere. The court can effigy it out.
6. Fiscal Affidavit FAQs
I tin can't afford the case filing fee to take someone to small claims courtroom. What should I exercise?
Each state has its ain list of data needed to assess financial assist. You lot should search your state'south website. Locate their version of "In Forma Pauperis." This document, properly filled out and filed with the court, initiates a court decision determining whether to waive court costs and fees.
If I'm required by the court to fill out a Financial Affirmation, practice I have to be completely truthful about everything I ain?
Aye. The fiscal affidavit is a legal document. In it, you swear the representations you brand are true and correct. Consequently, lying, or failing to disclose all your assets tin result in perjury charges. Perjury carries both civil and criminal consequences.
I have criminal charges. How practice I get an chaser?
Dissimilar jurisdictions approach this differently. However, in club to go a free or low-cost attorney, you must establish y'all authorize under the state or county's guidelines. You can expect the courtroom will inquire about your financial circumstances.
Source: https://legaltemplates.net/form/affidavit/financial-affidavit/
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