What Financial Information Will the Court Want?
Both parties are required by the Court to make a true and complete statement of their financial status. In addition to details on current income and expenses, each party must list his/her property. This includes cars, real estate, cash value of life insurance policies, cash and bank accounts, household contents, investments, pension or retirement plans, and other property.
This is called an ?affidavit of financial status.? It must be filed before the divorce hearing, unless waived by both parties. Parties who will pay alimony or who have children cannot waive financial information. The Court must be aware of the parties? finances to make an informed decision on child support and alimony. Click here to see a sample financial affidavit.
If child support is involved, both parties must also complete a form with details on their location and identity including address, driver?s license number, employer, etc. This information must be updated and will be kept confidential. Click here to see a copy the form. It is very important to comply with this requirement so that the party is kept informed about what the Court may do in the future.
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