Financial affidavit tips: Determining your income

Compiling a financial affidavit to submit in your divorce proceeding is an arduous but essential process. As we reviewed in a previous post, this document provides a snapshot of your financial standing for the court – and your Miami divorce lawyer. It is continually referred to throughout the proceedings in order to determine whether either party requires financial support (or, can provide said aid) and ensure the fair division of property and other assets.

Even aspects of this process that seem straightforward can prove more challenging than you’d expect. When it comes to disclosing your income, for example, you will probably have to provide more information than your current salary.

“Perks of your job may also count as income, including a company car, expense accounts, which may include personal use items (for example, gasoline, season tickets to games or concerts). If company perks add to your lifestyle, then they should also be included in your weekly income,” Divorce.net states.

In addition to these “perks,” the category of alternative income may also cover “interest and dividends, trusts, annuities, pensions, retirement funds, social security, disability payments, unemployment, public assistance [and] rental income,” according to the source.

Legal Information for Families Today (LIFT), an online resource on family law, also notes that non-monetary items such as meals and housing can be considered income, as well as goods and services from family and friends.

If you have questions about your financial affidavit, or any other aspect of Florida divorce law, an experienced Miami family attorney can be an invaluable asset. Scott A. Ferris, Esq. has practiced in this field for more than 25 years, and will give your case the personal attention it deserves. For a free five-minute phone consultation, call 305-670-3330.