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This would be the monthly income in wages for someone who is paid $2,500.00 biweekly by their employer. Then divide the yearly amount of $65,000.00 by 12, as there are 12 months per year, and the result would be $5,417.00 rounded up to the nearest dollar. Here, the annual amount would be $65,000.00. For example, if a party is paid $2,500.00 on a bi-weekly basis, they would multiply the amount they receive bi-weekly ($2,500.00) by the number of times they would be paid for a year (26 times) to get the annual amount they receive. Completing these calculations accurately is very important and checking the other party’s financial affidavit for errors or inaccurate information is equally important. If the income is not received on a monthly basis, the party should calculate what that amount of income would be if it were received on a monthly basis.
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Income must be reported as a monthly amount. Each party will need to provide the amount and source of all income they receive. The first section to be completed is the income section. The information required to properly complete a financial affidavit can be extensive. Child support calculations require both party’s incomes. With alimony, the court is required to consider each party’s need for alimony as well as each party’s ability to pay.
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This information is necessary for the determination of alimony and distribution of assets during a divorce, as well as determining child support. The purpose of the financial affidavit is to determine the income, assets, liabilities, and expenses of each party, including any expenses for minor children the parties have in common or minor children from prior relationships. Parties with less than $50,000.00 in total gross annual income may use the short form and parties with $50,000.00 or more in total gross annual income are required to use the long form. There are two different versions of the form: a short form and a long form. The financial affidavit is a standardized form prepared by the Florida Supreme Court. A financial affidavit is generally not required for adoptions, injunctions, and uncontested divorces. In most family law cases, including divorces, child support cases, and modifications of alimony or child support, each party will be required to complete a Family Law Financial Affidavit. Do I need to complete this financial affidavit, and what will the financial affidavit be used for? This information is very personal and providing all of my financial information seems irrelevant to the actual divorce proceedings. I am in the process of getting divorced, and my attorney has just given me a form called a financial affidavit to fill out.