Financial affidavit tips: Calculating expenses

In order to present an accurate snapshot of your current financial standing to your Miami divorce lawyer, your spouse’s legal representation and the judge ruling on your divorce, you must fill out a financial affidavit and submit it to the court. This legal document requires you to provide details about your income, assets, expenses and liabilities, and will be referred to when determining child support, alimony and property division in your case.

Previously, we covered the items that may fall under income and assets. Now, we’ll review the expenses that you must calculate and list on this form.

On Form 12.902(c) – the Florida Family Law Financial Affidavit (Long Form) – expenses are broken down into the following categories:

• Automobile
• Creditor payments
• Children from previous relationship
• Children from union
• Household
• Insurance
• Other regular expenses.

Income and expenses are calculated per month, so you should consult your Miami divorce lawyer if you have questions regarding costs that fluctuate. You may be required to revisit paystubs, bills and other documents from the past year (or more, if appropriate) to determine averages that best reflect your current financial standing.

The short-form and long-form Financial Affidavits approved by the Florida Supreme Court are comprehensive documents that go into further detail about the costs that fall under these categories. In future posts, we’ll review each section thoroughly. However, if you have any questions or concerns about this paperwork, or the Florida divorce process in general, an experienced Miami divorce attorney can be an invaluable resource.

Scott A. Ferris, Esq. has been practicing family law for over 25 years, and has a reputation for handling every case with unrivaled personal attention. For guidance and support throughout this emotionally trying time, call 305-670-3330 to discuss your case.