Litigation, in which parties argue their cases before a judge, is only a small part of what happens in Florida’s family law courts. Courts deal with agreements as much as, or more than, they do with disagreements. One might not think of the words “agreement” and “divorce” as belonging together in the same sentence, but many aspects of divorce in Florida today resemble contractual agreements more than they resemble a situation in which one party wins and the other loses. For example, a parenting plan is a detailed custody agreement in which parents agree on parenting decisions, large and small, from which parent has the final say about non-emergency medical treatment for the children to decisions about drop-off and pick-up from one parent to another. Another detailed document used in Florida family law courts is the financial affidavit, which is used to determine division of property, rather than details of child custody. Here are some frequently asked questions about the family law financial affidavit in Florida.
Q: What is a Financial Affidavit, and How is it Used?
A: A financial affidavit looks a lot like an itemized tax return. It is a document on which couples in the process of divorce list their income sources and expenses, and where they classify their assets and liabilities as marital or non-marital property. The purpose of the document is to determine equitable distribution of property, including spousal support payments, if any. Couples with and without children must file a financial affidavit. Continue reading