The Illinois Financial affidavit (Family and Divorce Cases) is a document used in Illinois family and divorce cases. This document is used by both parties to provide financial disclosure of their income, assets, and expenses. This document is a sworn statement that each party must sign and provide to the court. It is used to establish financial fairness and support in a divorce case. There are two types of Illinois Financial affidavits: the Income and Expense form, and the Statement of Assets and Liabilities form. The Income and Expense form requires parties to list their monthly income and expenses, such as rent, mortgage, utilities, taxes, and other financial obligations. The Statement of Assets and Liabilities form requires parties to list their assets, such as bank accounts, investments, and real estate, and their liabilities, such as car loans, credit card debt, and student loans. Both parties must complete the forms and submit them to the court. The court will then use the information provided in the affidavits to determine what is financially fair for both parties in the divorce.
Illinois Financial affidavit (Family and Divorce Cases)
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FAQ
When you are getting a divorce in Illinois, the courts require that each spouse submit a full financial disclosure in order to ensure the final divorce settlement is fair for both sides. One of the most critical documents that both parties must submit is a financial affidavit.
It is a document used by the judge to assess your income, expenses, assets, and debts. The information you provide in the affidavit must be true.
Uncontested Divorce They share an attorney and agree on how to move forwards. Uncontested divorces take anywhere from two months to a year. The main things delaying an uncontested divorce are the planning and the court's calendar.
Illinois is an equitable division state, so marital property does not have to be split evenly. Marital property is property owned by both parties. This type of property is split during the property division phase of a divorce. Marital property does not have to be split evenly, rather it is split equitably.
13.3. 1 Mandatory Disclosure. When further relief is sought from the court and a material change of circumstances has occurred, an updated completed ?Financial Affidavit? must be served on the other party no less than seven (7) days prior to any hearing.
A divorce can be done completely without an attorney. However, there are key benefits to having an attorney. If you didn't hire an attorney at all, you'd need to file the paperwork, serve your spouse, figure out all the court hearings, mediation sessions, agreement creation, and everything else all on your own.
For example, in Illinois, the rules generally require an ?affidavit? be notarized, though there are specific types of affidavits to which the requirement does not apply, such as affidavits being filed in support of a motion for summary judgment or a motion for involuntary dismissal.