What Is a Financial Affidavit in a New Jersey Divorce?

When you and your spouse file for divorce, it’s important to understand that this is not just an emotional matter. Going through a divorce involves a number of pressing financial matters. To ensure these matters are handled fairly and in accordance with New Jersey law, each party will be required to complete a financial affidavit. If you’re unsure what information you are required to provide or the importance of working with New Jersey high net worth divorce attorneys to assist you during this complicated matter.

What Is a Financial Affidavit?

In New Jersey, a Financial Affidavit is officially referred to as a Case Information Statement (CIS). Essentially, this document is used to fully disclose all assets and liabilities by both parties during a divorce. This document can be incredibly complicated to file as it requires a considerable amount of information regarding your finances. This is to ensure the courts can make the most accurate assessments of matters like alimony, child support, and property distribution.

Generally, you’ll need to provide the following information when filing this form:

• Your personal information
• Your income information, including revenue generated from full-time, part-time, or freelance jobs, bonuses, or investments
• A full list of your monthly and annual expenses, including mortgages, car payments, utilities, groceries, insurance payments, and any other recurring payments
• A complete list of assets, including real estate, bank accounts, vehicles, collections, and any other assets you own
• All of your liabilities and debts, like credit card balances, mortgages, medical bills, personal loans, and any additional outstanding balances
• Information related to child-rearing, if you and your spouse share children

In addition to providing the aforementioned information, you’ll also need to include financial statements that help support the numbers you’ve provided. This includes documents like tax returns, pay stubs, loan agreements, bank account statements, or any records you have that can verify and support the information you’ve provided.

Do I Need an Attorney to Help Me Complete the Forms?

Though you may want to avoid working with an attorney, completing a CIS can be incredibly difficult. Ensuring the accuracy of the information you’ve provided is critical, as accidentally leaving out important information can cause serious issues. Not only can it result in delays, but you may be accused of intentionally concealing assets or withholding financial information. If you are accused, even if it was accidental, it can result in serious consequences, like having the omitted assets given to your spouse as compensation for the alleged deceit.

As such, connecting with an experienced attorney during this process is critical to ensure you can provide as much detail as possible, not only to avoid allegations of concealing assets but also to ensure your information is as accurate as possible for the purposes of receiving a fair outcome during your divorce.

At Haber Silver Russoneillo & Dunn, we understand how difficult these matters can be. That’s why our firm is committed to helping you through all aspects of your divorce, from filing to fighting in court. We can assist you in completing these complicated legal documents to ensure these matters are handled in accordance with New Jersey law. When you need help, contact us today to learn how we can assist you.