After retaining a divorce attorney, clients are asked to complete a financial affidavit with supporting documentation such as tax returns, pay stubs and banking statements. In pre- judgement proceedings where a client is seeking the division of marital property; to establish, modify or enforce an order for spousal maintenance; establish child support, payment of educational expenses or support for a non-minor child with a disability; retroactive child support; and/or the payment of attorney’s fees or costs against the other party – each party will serve a financial affidavit to the other party of income, expenses, debts and assets within a defined time frame.
Post-Judgement Financial Affidavits
In post-judgement proceedings seeking to establish, modify, or enforce alimony, support of a child, and associated attorney’s fees – parties will exchange updated financial affidavits unless either party files a written objection with the court showing there is not good cause, such as when a party can show there has been no change in their financial circumstance since the original order. In other cases, an updated financial affidavit may still be in order in cases where an error or inaccuracy in the original affidavit is found.
Failure to Complete a Financial Affidavit in a Divorce
If a party to a divorce fails to provide a financial affidavit, they may not ask the court for a summary hearing for temporary child support or spousal maintenance. The court may also sanction a party for failure to comply. If only one party fills out an affidavit, the court may presume that the information is true without the benefit of the other party’s affidavit to compare it to. It is advisable for parties to a divorce to fill out and exchange financial information to ensure that marital property division, child support, spousal maintenance and other issues are decided fairly.
Work With an Experienced Family Law Attorney
It is important to work with an experienced family law attorney who can assist you with your divorce. Clients who have little knowledge of the their household financial affairs or those who have irregular income often have questions when filling out the financial affidavit and invariably benefit from overall guidance on how to prepare for their divorce to achieve the most favorable outcome with regard to child support, spousal maintenance, marital property division, and other issues unique to their case. Contact the Libertyville Family Law Offices of Ronald L. Bell and Associates P.C. for immediate assistance today.