Divorce is often a difficult process for those involved, and can be especially troubling in regards to finances. An individual often thinks that his or her finances should be private, but, in a divorce, this information is necessary to make sure that the division of assets and liabilities is as fair as possible. Hopefully, if Florida residents have this information ready before it is requested, it could ease the process for everyone involved.
In Florida divorces, a financial affidavit is generally requested by the courts. Although the specific details of this document vary by state or even county, the gist and use of the document is universal. This document is a specific list of what an individual owns, owes, earns and spends.
The accuracy of this document is often crucial for the courts to make a fair decision for certain aspects of the divorce. These aspects can include temporary support and even the final separation of assets. Although the filing of this document can be quite grueling, it is imperative that the document be accurate as the courts can penalize individuals for providing false or incomplete information. These penalties can be quite severe, and the courts may go so far as to award to the other spouse any assets found to be hidden by one spouse.
Fortunately for Florida residents, there are many individuals that are qualified to help with financial affidavits. These professionals will help ensure that the document is as accurate as possible, and can help eliminate the chance of financial questions arising in the courtroom. By seeking assistance with financial details early in the process, an individual can help ensure that his or her divorce will be carried out as smoothly as possible.
Source: Forbes, "The Importance Of Financial Affidavits In Divorce And A New, Cool Tool To Help You Get It Right", Jeff Landers, Nov. 6, 2014