The Need for Financial Affidavit for Child Support

There are parents who fight for their child’s custody. The one who lose the child’s custody will have to provide financial support but both needs to submit financial affidavit to the court judge.

What Is a Financial Affidavit

A financial affidavit is a legal document where the person states his income and assets. It also includes expenses and liabilities. It may surprise you but you need a financial affidavit for child support. The financial information that can be found in the financial affidavit will be used to compute the amount that the non-custodial parent must provide for the child.

How to Prepare a Financial Affidavit

Lawyers could give you the standard form for financial affidavit. You simply need to complete the form or give the information required by the jurisdiction. Note that the jurisdictions and states have various guidelines and criteria on calculating child support.

Completing the financial affidavit form will be much easier if you will prepare all your financial records first. Make sure that you have all receipts, utility bills, credit card bills, pay stubs and other proofs of payments you made in the past. Bank statements must also be in your hands. In case you do not have receipts for some past expenses, you will have to estimate them and make sure they are still included to ensure accuracy. Aside from your expenses, you should also provide all your sources of income. Include your job and businesses.

After completing the financial affidavit form, you must sign it and have it notarized. The notary public will certify it. The document will be signed and stamped with a seal by the notary public. Once certified, the financial affidavit must be submitted to the judge. It will be reviewed. The amount of child support will then be determined.

How to Determine the Amount of Child Support

The court needs the financial affidavit of both parents to determine the exact amount of child support. It is the amount that the non-custodial parent needs to give. When determining the amount of child support, the needs of the child as well as the non-custodial parent’s ability to give support is considered. The amount must be fair to both parents and must be enough to support the child at the same time. Other factors that are considered by the court are rare but possible circumstances such as imprisonment and hospitalization of one of the parents.

Warning: Do Not Give Wrong Information

In some cases, the non-custodial parent may be tempted to provide false information to lower the amount that must be given as child support. Some custodial parents may also provide wrong information to increase the amount that the non-custodial parent must give. However, the courts have been very strict. You may fool them at present but there are consequences when you are caught. You may be found to be in contempt of court and perjury. You may have to be in jail and/or may have to pay fine. Those who are guilty of perjury may be imprisoned for up to five years but it is not the case regarding financial affidavit for child support. You may just lose some of your credibility due to your record for lying.

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