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In a divorce situation, financial affidavits are important

In Houston divorce situations, financial matters are almost always at the center of disputes. Many times, couples disagree about financial issues and a divorce just heightens the emotions. Financial affidavits are critical in a divorce because of the scrutiny financial information goes through.

A financial affidavit is a document that each person submits in a divorce listing exactly what is owned and what is owed. It also lists what a person earns and how much money is spent on expenses. It is incredibly important that this document be complete with all information, as this is the document that determines alimony and child support payments. The final divorce settlement often depends on the information contained in this document as well.

If a court finds out that someone lied on the document, then that individual could face penalties, including awarding all hidden assets to the other spouse. An attorney skilled in family law practice can help a person going through a divorce by making sure their financial affidavit is accurate and complete and help with other property division issues. They can make sure the numbers make sense and give tips on how to complete the affidavit. They might also help ensure any expenses are not overlooked or missing, which could affect the financial outcome of a divorce settlement.

Divorce is a stressful time for couples, and emotions often run high. It is therefore critically important for those who are going through a divorce to make sure their financial affairs are in line. Although there can be many nuances to a divorce's financial matters, making sure they're accurate is crucial to reach as fair of an outcome as is possible.

Source: Forbes, "The importance of financial affidavits in divorce and a new, cool tool to help you get it right", Jeff Landers, Nov. 6, 2014.

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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