What Is A Sworn Financial Statement?
You Do Not Want To Wait Until The Last Minute!
A Sworn Financial Statement (SFS) it requires each party to itemize, in detail, income, monthly living expenses, debts, assets, and separate property. Courts utilize these documents to establish a fair division of the marital estate, including maintenance (spousal support/alimony), child support, property, etc. The document is comprehensive and very detailed. In other words, it’s a lot of work!
This is not something you want to put off for the last minute. You’ll need a lot of supporting documents and some of those items may take time to retrieve. Here are a few tips to help you complete your Sworn Financial Statement:
- Ask your attorney right away what is the ideal date to complete your draft of the SFS. Give yourself an earlier due date.
- Immediately make a list of all the documents you will need to request in advance.
- If you’re overwhelmed, tackle parts every other day or do a page a day. Find a way to break it up but still able to complete by your deadline date.
- If you have questions, that’s ok. Schedule a meeting with your attorney’s legal assistant or paralegal, and come with questions ready and reference specific questions and sections. The more you have the better.
- Take 2-3 weekday days off of work to call institutions to request information and to drive to banks/institutions to retrieve documents
Unfortunately it is not an easy document and it is required by the courts in every divorce and custody proceeding in the State of Colorado.
Organization and communication with your legal team is extremely important in the process.