Financial affidavit tips: Long-form and short-form
When you file for divorce in the state of Florida, you are required to provide the court with an accurate representation of your current monetary worth. Though certain aspects of this disclosure – such as whether you must present tax returns, pay stubs and bank statements as proof – can be waived if both parties agree. However, the law stipulates that each individual must complete and submit a financial affidavit to be reviewed by your Miami divorce lawyer, your spouse’s attorney and the judge.
Recently, we’ve reviewed the ins and outs of this complex documentation, and today we will provide a brief summary of the short-form and long-form variations of this paperwork.
Determining the appropriate document for your divorce is simple. Individuals who earn less than $50,000 per year are required to complete the short-form financial affidavit, while those who earn more must use the long-form edition.
Though there are some finicky differences between the two – see our past posts on insurance and children’s expenses – for the most part, the long-form document delves into greater detail. Rather than simply recording how much you spend per week on your child’s clothing and money, for example, this paperwork allows space for private tutoring, entertainment and psychiatric care, among other costs.
Whichever financial affidavit you must complete for your divorce, making the necessary calculations can be a puzzling and time-consuming process. If you have any questions about this crucial piece of documentation, don’t hesitate to consult a Miami divorce lawyer for guidance. Scott A. Ferris, Esq. has more than 25 years of experience in this field, and is on hand seven days a week to address his clients’ concerns.