The Importance Of Financial Affidavits In Divorce And A New, Cool Tool To Help You Get It Right

The Importance Of Financial Affidavits In Divorce And A New, Cool Tool To Help You Get It Right The Importance Of Financial Affidavits And A New, Cool Tool To Help You Get It Right If you’re divorcing, be prepared: Your financial life is going to be closely scrutinized, dissected and questioned by your husband’s attorney and the judge. Fortunately, there is a specific legal format for presenting financial information to the court, formalizing the process and theoretically, at least, helping to ensure no stone is left unturned. If your divorce is contested (and possibly even if it’s not), you and your husband will each be required to file a “Financial Affidavit.” (Note: Financial Affidavits are called different things in different states. In New Jersey, divorcing couples file a “Case Information Statement (CIS).” Meanwhile, the courts in Utah require a “Financial Declaration,” and in Connecticut, it’s simply called a Financial Affidavit. In New York, we use a “Statement of Net Worth.”) Requirements and regulations vary between states –and sometimes even between counties within the same state! But in general, this official document lists in minute detail what you own and what you owe (assets and liabilities), and what you earn and what you spend (income and expenses).