The Sworn Financial Statement

The Marriage Zone: The Sworn Financial Statement
By Christopher C. Meyer
©July 2008


In a previous article I described the mandatory financial disclosure requirements in domestic relations cases. The most basic mandatory financial disclosure requirement is the obligation of both parties to exchange and file sworn financial statements. This requirement applies to all initial and post decree domestic relations cases that involve financial matters, such as child support, maintenance (alimony), and property division. The sworn financial statement is a seven-page form. You will enter your income, expense, asset, and debt information in the spaces provided.

The sworn financial statement provides each party and the Court with the basic information that is needed to determine the party’s financial status. This form is an extremely useful document. It is the prime source for quick reference as to what the parties can afford on a monthly basis and their net worth. The sworn financial statement is intended to be an accurate snapshot of each party’s financial status as of the date that the party signs the document. Your signature must be notarized.

The sworn financial statement requires a comprehensive listing of the parties’ monthly expenses. It shows the monthly budget for the parties. The income and expense information from the sworn financial statement will be used to determine child support and maintenance (alimony). After the form is completed, it is not unusual for parties to discover that their expenses exceed their incomes.

The sworn financial statement can also be used as a tool for projecting future budgetary needs. Most people’s financial situations change significantly after they are divorced. They will have less money to live on. You can use the sworn financial statement to project what your future budget will look like. You can use the form to project your future financial needs even if you are not involved in a court case.

You can download a copy of the sworn financial statement for no cost from the Colorado Courts website (www.courts.state.co.us.). You will not enjoy filling out this form. However, it is an extremely useful exercise because it makes you come to terms with your financial realities. It is also one of the best tools available for projecting your future financial status. Instead of worrying about your financial future, do something about it! Download the sworn financial statement, fill it out, and see what your future looks like.

This article is for informational purposes and does not constitute legal advice concerning your case.

Chris Meyer is an attorney practicing family law in Monument. Chris’s practice is limited to domestic relations cases. Chris has been practicing law since 1977. He is a former prosecutor and is licensed to practice law in Colorado, Florida, California and Wisconsin. Chris can be contacted at 719-488-9395. Please see his website (www.cmeyerlaw.com) for additional divorce and family law information.