Frequently Asked Questions: Divorce & Family Law
What Is A Financial Statement?
In every divorce case, contested or uncontested, each party needs to file a Financial Statement with the court, which sets forth under penalties of perjury the party's income, expenses, assets and liabilities. The Financial Statement needs to be on the court's own form, of which there are two, a short form for persons whose income is less than $75,000 annually, and a long form for persons whose income equals or exceeds $75,000 annually. Financial Statements are often updated several times in the course of divorce proceedings, as at each court appearance a current Financial Statement is required.