The Financial Affidavit has different names in different states. For example, here are some states and the name the financial affidavit is called in those states:
- California: Income & Expense, Asset & Debt. Declarations.
- Colorado: Sworn Financial Statement.
- New Jersey: Case Information Statement.
- New York: Net Worth Statement.
- Pennsylvania: Inventory.
Whatever it is called, it is the statement of income and expenses, assets and debts, of the parties.
This form is created entirely automatically, based on the entries you make on the affidavit data entry screens.
Here’s why you should enter information on these screens and not directly on the “Print” screen:
- On the data entry screen, the information is organized with more subcategories. This makes it easier for clients to enter all of their information. The software then automatically combines the subcategories into the categories that appear on the financial affidavit.
- Entries that you make on the data entry screens also carry to the What If analysis, the child support calculation, the Budget Report, and elsewhere. Entries that you make directly on the financial affidavit will not do that.
- For assets and debts, the only way to create additional assets and debts is on the data entry screens.
As you enter assets on the Assets & Debts screen, please be sure to specify the Investment Type for investments, the Asset Type for personal items and vehicles, and, if applicable, the Debt Type for debts.
The selections will determine the sections on the financial affidavit to which the entries carry.
Typically, there is a checkbox on one of the affidavit information screens to specify that you want the information of the professional (attorney’s name, address, phone number, etc.) to carry to the financial affidavit.
The professional information can be entered by clicking Settings > Configuration > Professional information. This information needs to be entered only once, and it is saved from case to case.
State Specific
California
The key Asset & Debt and Income & Expense reports are on the link labeled Print Declarations.
These include FL-140, 141, 142, 150, and 160.
All the information you entered on the previous screens will flow there.
The software has the ability automatically to create details for line 11 of FL-150. This is an option that is specified at the top of the Print Declarations page.
All of the remaining statewide additional Council forms are on the Judicial Council Forms link.
There is also a FL-150 report on the Judicial Council Forms screen. This is a blank form, and only the names will carry to that form. We added this because there was a request to have a blank form that could be filled in completely by hand. If you want the FL-150 that is filled with the information from the Income & Expense data entry screens, then go to the Print Declarations page.
You will also find forms for several counties on the Judicial Council forms tab.
Colorado
If the parties are unmarried, or this is a post-dissolution matter, you will want to check a box at the top of the Print SFS screen, labeled “Use Expanded Format for Assets on the SFS.”
Connecticut
By default, the software will carry 100% of the value of both parties’ assets to the Financial Affidavit.
If you wish to have 50% of the marital amount of parties’ assets carry, there is a checkbox at the top of the Assets & Debts screen, under the section “Data Entry Options for this Page,” labeled “Specify equity to show on Financial Affidavit.”
On the Case, Income & Expense screen, in the Print Options section at the top, you can also select long or short form, official format or expanded format, specify whether footnotes should print with the Affidavit, specify whether footnotes should print with each item or at the end, and specify whether to print the Appendix.
Florida
On the top half of the screen, there are a number of options, including whether to use the 902(b) or 902(c) form.
We suggest that you always use the 902(c) form, because it is only on that form that the footnotes will print.
The 902(b) form is so compressed, that we are not able to fit the footnotes.
Please note that there are two lines to which health insurance could carry. One is in the deductions from income section, and one is in the living expenses section.
There is a checkbox on the Case, Income & Expenses > Monthly Insurance section, that determines the line to which health insurance carries.
New Jersey
The Case Information Statement entries flow from the entries on the CIS data entry screens.
There are options on the screen where you view and print the Case Information Statement with respect to how footnotes are printed, whether to include the instructions, and whether to print the “other expense” lines that are blank.
Also on the screen, there is an option to print a blank that Case Information Statement to email to a client.
Finally, there is an option to specify whether or not you want to display expenses for each residence individually when there are multiple residences.
The official Case Information Statement does not do this, but many attorneys have found this to be a very useful feature.
New York
At the top of the screen where you view and print the Net Worth Statement, there are several options with respect to the printing.
Many of these options concern whether totals are displayed at the bottom of the Net Worth Statement
If this is a preliminary submission, you may wish to print the statement without totals.
There are checkboxes on the screen for displaying or hiding the totals for each section.
There is also an option to hide expense lines which are blank or zero. If you select that option, you will print only expense lines that have values.
There is also an option to print or email a blank Net Worth Statement, which you can then email to a client.