When you or your spouse decide to file for divorce, it’s imperative to understand that this process can carry a considerable amount of legal complexities. This process is not as simple as signing a sheet of paper and moving on with your life. In reality, you’ll find that there are a number of important matters that must be taken into consideration, including your finances. One of the most critical aspects of divorce is completing the financial affidavit. If you’re unsure what this is or how to complete one you’ll want to keep reading. The following blog explores what you should know about these matters and why working with a Somerset County high net worth divorce attorney is in your best interest during these complicated financial matters.
What Is a Financial Affidavit?
A financial affidavit, formally referred to as a Case Information Sheet (CIS) in New Jersey, is a document that provides a complete overview and full disclosure of the assets owned by both parties during a divorce. Each spouse is required to complete this document. Though it seems simple enough, there is a considerable amount of information you must provide. As such, you must provide details about the following circumstances:
- Your income
- Your spouse’s income
- Financial matters in the divorce like alimony and child support amounts
- Monthly living expenses
- A list of valued assets and liabilities
In addition to the aforementioned details, you’ll also need to include a considerable amount of documents to submit with this form. This includes tax returns, pay stubs, child support documents, and any agreements you and your spouse have signed.
It’s imperative to understand that if you do not provide full disclosure regarding your assets or debts, or make any attempt to hide or conceal assets, you can face serious consequences.
What Should I Do if I Need Help Filing This Form?
When completing the financial affidavit for your divorce, it’s critical to understand that you must be as accurate as possible when inputting information. Not only is ensuring these matters are correct important to establish your credibility with the court, but failure to provide accurate information can impact how assets are distributed. This means you may not get the full extent of the funds you deserve during the property distribution phase.
Completing this document can be incredibly overwhelming, as it requires a considerable amount of information. As such, working with an experienced divorce attorney during these matters is critical. Not only does it ensure that these details are accurate, but it can help ease the stress that these divorce matters can cause.
At the Siragusa Law Firm, we understand how difficult a divorce can be. That is why our firm can help handle the financial and legal complexities of these matters, so you can focus on healing from these difficult times. When you need help, our firm is here. Contact us today to learn how we can fight for you.
