Your Financial Affidavit is the document that decides alimony, child support, and property division.
A Financial Affidavit (FA) is one of the most important documents you will file in your divorce or child support case. It is a sworn statement where you list your income, expenses, assets, and liabilities; because you are signing under oath, everything must be true, accurate, and backed up with documents like pay stubs, bank statements, and invoices/bills. Think of it as a financial “snapshot” of your life which the court uses it to see your income, your needs, your responsibilities, and the resources available to you. Without this snapshot, the judge cannot make fair decisions about alimony, child support, attorney fees, or how your property and debts should be divided.
Why the Financial Affidavit Matters
Your Financial Affidavit is how the court understands your financial situation. Without it, your case simply cannot move forward, because the judge cannot make fair decisions without knowing what money is coming in, what money is going out, and what you own or owe. It is actually required to file a Financial Affidavit simultaneously with the Petition, if children are involved, as filing without the FA is technically insufficient.
Here is how the FA impacts the most important parts of your case:
Alimony (spousal support):
If you are requesting alimony, your FA is your proof that your income is not enough to meet your monthly needs. For example, if you earn $3,000 a month but your necessary expenses (rent, utilities, food, transportation, medical bills) add up to $4,200, the affidavit clearly shows the court that you have a gap that you cannot cover without support.
On the other hand, if you are the spouse who may be paying alimony, your FA protects you from being ordered to pay more than you can afford. The court uses the numbers you provide to compare income and expenses on both sides, and under the new 2023 alimony law in Florida, those numbers matter more than ever, as there is an actual formula now that is to be followed.
Child support:
The FA is critical in making sure child support is calculated fairly. It does not just look at income—it also includes all costs related to the children. This means things like daycare or after-school care, the cost of health insurance for the kids (separated from your own coverage), and any unusual expenses, such as travel if you or the other parent reside far apart. By breaking these costs down, the court can make sure child support is based on real expenses and not guesswork.
Equitable distribution (dividing assets and liabilities):
The FA also gives the court a roadmap for dividing assets and liabilities. This includes everything you own (bank accounts, retirement accounts, vehicles, real estate, valuable personal property) and everything you owe (mortgages, credit cards, student loans, car loans). You need to include both marital property (things you acquired during the marriage) and non-marital property (things you owned before marriage, or received through inheritance or gifts). Even though non-marital property may not be divided, it can still play a role in the court’s decisions about alimony or attorney’s fees.
Why It’s Called an “Affidavit”
The word “Affidavit” means you are swearing that what you write is true, under the penalties of perjury. Even if your attorney helps you fill it out, you must understand every part of it before signing. This is your statement, not just a form your attorney filed for you, it is a true Affidavit.
Keep in mind that your FA is not final forever. If your financial situation changes, you can update it during your case. The court expects the FA to reflect your current financial picture, not the way things were months ago.
FAQs About Financial Affidavits
Do I really need to file a Financial Affidavit?
Yes. In Florida, and many other states, it is required in all divorce and child support cases. Without it, the court cannot make financial rulings, and your Petition can be dismissed.
What happens if I lie on my Financial Affidavit?
Since it is a sworn legal statement, providing false information is considered perjury. This could result in fines, sanctions, or even criminal charges, and it can seriously damage your case.
Can I update my Financial Affidavit after filing?
Yes. If your financial situation changes—such as a new job, change in income, or liabilities —you should update your FA to keep it accurate throughout your case.
What documents should I attach to my Financial Affidavit?
Nothing should be attached to your FA; however, you should provide with your discovery production (mandatory disclosure) proof of income (pay stubs, W-2s, 1099s), bank account statements, credit card bills, mortgage documents, and any other records that verify the information you list to prove its accuracy.
How long does it take to prepare a Financial Affidavit?
This depends on how organized your financial records are and how long it takes you to complete the FA. With all documents ready, it can take a few hours; without them, it may take longer. An attorney can help streamline this process; however, you have to have the supporting documents for the attorney to assist.
Do both spouses need to file one?
Yes. Each party in a divorce or child support case must file their own Financial Affidavit so the court can compare financial circumstances fairly.
If you need assistance preparing your Financial Affidavit or other legal documents for your domestic matter, the attorneys at Schwam-Wilcox can assist you as a consultant or by becoming your attorney of record.
When you’re going through your worst, we are at our Best!
