This form is used to provide the Court with complete and current financial information of the parties. It asks for both the Husband's and Wife's income to debt ratio in order to derive an accurate amount of child support to assess each party.
North Carolina Financial Affidavit
Category:
State:
North Carolina
Control #:
NC-812D
Format:
Word;
PDF;
Rich Text
Instant download
Description Affidavit Template Word
Free preview Financial Affidavit Sample
How to fill out Financial Affidavit Nc?
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Family Law Financial Affidavit Form popularity
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Income Affidavit Format Pdf FAQ
Docket number and name of the case, including names of both parties. Your income from all sources, including overtime, bonuses, social security, tips, interest, other spousal support, and commissions.
Past history. If you reported your expenses for recent past history, say for six months or a year, those expenses would show what you and your spouse expended together; they will have little relevance to what you need as a separated individual. Future expenses. Interim expenses.
In concept, a financial affidavit is a simple document. It is a sworn statement of your income, expenses, assets and liabilities. The form for the affidavit is prescribed by the Florida Supreme Court. Both parties must file and serve a financial affidavit in a divorce case.Expenses are the problem.
What Is a Financial Affidavit? A financial affidavit, which has different names in each state, is a statement showing your income, expenses, debts and assets. It allows a court to figure out how much spousal support and child support it should award.
If you lie on this document, you are lying to the court.Depending on how serious your untruth, lying on a financial affidavit could mean that your spouse is awarded a larger portion of the marital assets, something that could negatively impact your financial situation for many years to come.
Fair market value example If given a gift of stock, the fair market value of that stock on the day you received it will determine the taxes you pay when it is sold. The calculations for most property taxes are based on fair market value. Insurance claims on any asset are based on fair market value, at least in part.
The main purpose of a financial affidavit is to provide the court with an explanation of a party's financial circumstances. Without this information, the court would be unable to make financial orders or orders concerning property distribution.
In its simplest sense, fair market value (FMV) is the price that an asset would sell for on the open market.
Cost or selling price. If the item has been recently bought or sold, that can be a good indicator of its fair market value. Sales of comparable assets. Replacement cost. Expert opinion.