What Documents do I Need to Provide During the Financial Disclosure Process?
When filing for divorce, Florida couples are required to complete a financial affidavit in which both parties are required to disclose all of their assets and liabilities. Providing this information is critical to ensuring that all of a couple’s assets are divided fairly and equitably. There are only a few situations where couples are not required to submit these disclosures upon divorce, so if you believe that your spouse is not disclosing all of his or her assets and liabilities, it is critical to speak with an experienced Fort Lauderdale property division lawyer who can ensure that they are held responsible for their actions.
What is Included on Florida’s Financial Disclosure Forms?
The financial disclosure form that divorcing parties must complete in Florida requires couples to disclose certain information about their finances, including their gross income, including salary, benefits, wages, commissions, and bonuses, as well as the family’s estimated expenses, and the couple’s major assets.
In addition to completing these forms, divorcing couples must also provide copies of important financial documentation, including:
- Personal income and business tax returns;
- Three months of paycheck stubs or other proof of income;
- Loan applications completed in the last year;
- Financial statements;
- Real estate documents, including leases and deeds;
- Three months worth of bank account statements;
- Pension and retirement plan statements;
- Life insurance policy documentation;
- Debt statements from the last three months; and
- Any premarital or postmarital agreements entered into by the spouses.
For help determining which financial documentation to obtain for your own divorce, please contact our legal team today.
When Does a Financial Affidavit Have to be Completed?
Most divorcing couples are required to complete a financial affidavit, although which type of form they must complete depends on their income. For instance, spouses whose gross annual income exceeds $50,000 must complete the long form Family Law Financial Affidavit. Spouses who have a yearly gross income of less than $50,000, however, can use the short form Family Law Financial Affidavit.
There are also a few situations when divorcing couples are not required to make these types of disclosures at all, namely when:
- The parties are using the simplified dissolution of marriage process, which requires both spouses to waive the financial affidavit filing requirement;
- The court does not have jurisdiction to determine any divorce-related financial issues; and
- The parties do not have children together, have filed a written settlement agreement resolving all marriage-related financial issues, and have agreed to waive the right to alimony.
Only in these circumstances are divorcing couples not required to complete, sign, and submit a financial affidavit form. To find out more about filing your own form and submitting all necessary financial documentation to your spouse and the court, please call our office and a member of our legal team will assist you.
Call Our Office Today
To speak with dedicated property division attorney Sandra Bonfiglio, P.A. about your own divorce-related financial disclosures, please call 954-945-7591 or complete one of our brief online contact forms today.