What Information is Revealed in a Financial Affidavit in Florida?
Even if you have nothing to hide from your soon-to-be-ex-spouse, the idea of having to disclose your financial information in a divorce may seem a little too invasive.
When seeking a divorce in Florida, financial disclosure is a mandatory step. Under Florida Court Rule 12.285, the parties must make financial disclosures within 45 days of service of the divorce pleading.
The so-called financial affidavit helps ensure that both spouses are aware of all the assets and debts that may be subject to Florida’s equitable division law.
However, not everyone is legally required to submit a financial affidavit when seeking a Florida divorce. You should speak with an experienced divorce attorney at Arwani Law Firm to determine whether you are required to complete a financial affidavit in your particular case.
Will I be required to fill out a financial affidavit in Florida?
Florida law recognizes two forms of financial affidavits:
- A short-form affidavit must be completed by individuals who make less than $50,000 per year.
- A long-form affidavit must be submitted by persons with a gross income of over $50,000.
Not everyone is required to fill out a financial affidavit when seeking a divorce in Florida. You do not have an obligation to submit the affidavit in any if the following situations:
- You have waived the requirements to complete a financial affidavit because you and your spouse filed a Simplified Dissolution of Marriage pursuant to Florida Court Rule 12.105; or
- You and your spouse do not have children together, no child support/alimony issues, and have filed a settlement that resolves all of your divorce-related financial issues.
What information will be shown in the financial affidavit?
Many people feel uncomfortable completing a financial affidavit simply because it is invasive and reveals too much. The following information will appear on your financial affidavit and will be available to your spouse, your attorneys, and the judge:
- Paystubs and other types of evidence of income
- Personal tax returns
- Business tax returns
- Financial statements from the past 12 months
- Bank statements from the past three months
- Statements from your retirement savings accounts
- Proof of health and dental insurance
- Proof of life insurance
- Real estate documents
- Debt and credit card statements from the past three months
If you and your spouse had signed a prenuptial agreement before the marriage, you might still be required to fill out a financial affidavit. However, the prenup could make the process of property division more straightforward.
If you fear that the financial affidavit may reveal too much information, consult with an Orlando divorce attorney to determine what you can do in your particular situation.
A financial affidavit is one of the most complicated aspects of seeking a divorce in Florida. It’s not uncommon for spouses to accuse each other of hiding or failing to disclose assets. Even the tiniest mistake in the affidavit could be used against you and result in an unfavorable outcome.
Get help from our attorney at Arwani Law Firm to talk about a financial affidavit in your Florida divorce. Call 407-254-0060 for a case review.