Attorney Cheri Hobbs

In a divorce proceeding the minimum financial disclosure that is required is a financial affidavit. These can be confusing especially for someone not accustomed to filling out such a specific and exact financial document. Some helpful hints: your gross monthly salary is basically an average salary. When your paychecks are equal but paid out by the following - If you are paid once a month then it is the amount you receive prior to taxes and insurance/other is taken out of the check. If you are paid twice per month then multiply the paycheck 2 and that is your gross. When you are paid bi-weekly (every other week) then you multiply your paycheck by 26 weeks and divide by 12. When you are paid weekly then multiply your paycheck by 52 weeks and divide by 12. Obviously if you are paid a different amount each paycheck you should take the year to date amount and divide by the number of paychecks to get the average. The same method of calculation may be used (in most cases) for the federal taxes, social security, etc. Remember when filling out your expenses to do an average monthly amount. So, take your property taxes and divide by 12 months to come up with the monthly gross expense. If you have certain bills that you are supposed to cover but financially cannot do so at this time due to your separation you can notate this on the affidavit. Remember you are under oath or affirmation subject to penalty of perjury to tell the truth on these documents. Whenever an expense changes (rent is different or no longer have a car payment) or income changes, complete an Amended Financial Affidavit and file same. You are required to keep the court updated with this information.

Attorney Cheri Hobbs