An Affidavit is a legal document that can be used to swear into something, may it be for a death, heirship, title or your finances. Affidavits such as financial can be used in financial matters within the court, such as bankruptcy financial affidavit. A financial affidavit is a sworn statement that actually contains details about your personal income, assets, debts, expenses and your other financial obligations that fall within the range of your finances. This type of affidavit is most commonly used during divorce proceedings in order to help the court calculate spousal or child support.
Like other types of affidavits, every detail that you will be including in this affidavit should disclosed nothing but the truth, completeness and accuracy of all necessary informations or else you will be at risk being penalized for perjury, that is why before you submit your affidavit to any notary or before you sign this affidavit, you should double check everything if you what you have written are the correct and true statements and information. It is easier to double check the information that you have written than to be penalized for perjury, that’s why ensure that everything is right and correct to avoid discrepancies.
A financial affidavit is a legal document that details the signer’s financial standing and circumstance. Like other affidavits, it is a sworn statement and can be used legally anytime you want whenever you need it. The signer affirms and represents that the contents that are written and indicated on the affidavit are true and a complete representation of the financial situation of the signer to the extent the situation is detailed in the affidavit. If you think that all financial affidavits contain the same information, well it’s not.
There are some affidavits that will be asking for different information depending on what type of financial affidavit you are making for and for the purpose of it, more or less financial information may be required. Since the purpose of the form is to provide the court a picture of financial circumstances, there are instances, that the form will be asking informations about who are living in the household, who else you are still financially responsible for, sometimes it may also ask for information about the income and obligations of other people who are in the household, like the spouse.
But as a general rule, income revenue is considered as essential when calculating a child support obligation, where expenses are most of the time not. Consequently, a financial affidavit in a child support proceeding, may no longer be requiring a detailed list of your debts and expenses. While if it is for a bankruptcy financial affidavit, it looks at your entire financial situation, and may require more information. A financial affidavit will be identifying the following elements:
This type of information may vary slightly based on the reason for the affidavit and the jurisdiction. Financial affidavits are also sometimes referred to as, financial statement affidavit, financial disclosure affidavit, financial affidavit for support, family law financial affidavit, affidavit of financial information and confidential financial affidavit. Are you looking for a template of a financial affidavit? Download our financial affidavit templates listed above for you to use anytime without any hassle of creating one, just add the necessary information that is needed, review and you can get it notarized and use it as your legal document already.
Financial affidavits as stated above can be used in a variety of legal situations where a court will be needing to take a look into your finances in order to resolve a child support allocation, divorce settlement and even in some criminal cases. Family Law – One of the most common situations wherein a financial affidavit can be used is when it involves family law issues. An example of this would be, if you file for a divorce, a financial affidavit should be provided, your soon to be ex-spouse, and the court with all necessary information that are needed. This will allow you to negotiate, or the court to decide the appropriate property division, alimony and even child support. In child support cases where the parents were never married, the court will be relying on a financial affidavit when it comes to allocating degrees and the amounts of financial responsibility of each individual party for the support of a child in common. Bankruptcy – Financial affidavits as stated above can also be used in bankruptcy court. Like with family law matters, the court will be reviewing the assets and debts, income and expenses, when determining the appropriate way to resolve a bankruptcy case. Legal Aid – Lastly, a financial affidavit will be required if you will be applying for the services of a public defender or legal aid. A legal representation in criminal cases will be guaranteed in the United States Constitution, if you find yourself in this situation, you will be asked to provide financial information that will be used to determine whether you qualify for an attorney paid for by the state or country where the alleged crime has occurred.
Financial affidavits might sound like they are very hard to make because of all the informations that you need to fill up, but it doesn’t have to be that hard like what you imagined, actually there are a lot of forms that are available online and that you can download and just fill in all necessary information that are needed for the type of financial affidavit. Here are also some tips on how you can properly write your own financial affidavit:
Like all other affidavits, the financial affidavit also includes personal information such as your name, address, phone number, social security and date of birth. But depending on the purpose of your affidavit, it will ask for the following information: income, other sources of revenue, assets, debts and expenses which will be detailed below with their examples.
Your financial affidavit will be depending on its purpose. Before filling out one, you have to be sure and clear that you know the purpose of this in order for you to be able to recall all pertinent details about your finances. Financial details that will be needed to disclose in the affidavit can be more or less depending on how it will be used and the purpose of it.
Like all other affidavits, identifying the affiant is one of the most important and basic elements of any affidavit. The affiant for a financial affidavit is the one who will be declaring their financial situation. You have to ensure that you are verifiable and personal information should be included and everything is true and correct. You also need to include a statement of truth in your affidavit in order to attest to the truthfulness of the details that you have provided. Make sure everything is true and correct, to avoid being held liable for perjury or any other discrepancies.
After acquiring your own financial affidavit, you have to ensure that you have answered each question and you have filled out all of the pages. If there are certain questions that do not apply to you, write “None” or “O”. Fill out the form completely, double check all information that you have filled up to avoid problems, lastly do not sign it yet as you have to take it to a notary, a lawyer or the court clerk. You will be swearing in front of them that all the information that you wrote is nothing but the truth, and after you can now sign it and the other person will sign as your witness.
After signing your financial affidavit, you can now go to the court and file your financial affidavit. Once it is signed, it is now considered as a legal document.
Yes, since the financial affidavit is a legal document, you have to swear that all information stated is true and correct. On the other hand, lying or failing to disclose all your assets on the financial affidavit can result in perjury charges. Perjury carries both civil and criminal consequences.
You should keep in mind that when a financial affidavit is requested, remember that the court will need it in order to make a just and fair decision that can affect you financially. Failing to comply with this requirement could result in either of the following:
A court mandated financial affidavit will be used in order to take a look at your finances that tackles your spousal or child support obligations, bankruptcy, settlements and even in some criminal cases.
Financial affidavits are a simple and legal document but are really not that easy to make. Making sure that you know what’s the purpose of the affidavit, details that were added are true and concise, and the form itself is free from errors. If you fail to disclose any necessary and important information, you are at risk of being charged with perjury that carries both criminal and civil consequences. Are you looking for financial affidavits templates that you may use and just fill out the necessary information? Download our templates now!
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