Saving Money, Building Confidence: A Guide to Financial Declarations

By December 13, 2017Uncategorized

When your attorney emails you a blank Financial Declaration requesting you complete, your first reaction will probably be to move the email to your trash folder. You have good reason for this reflex: legal documents are intimidating! They use words and phrases completely absent from normal vocabulary and reference rules unfamiliar to most people. Trying to understand one of these documents can give anybody a headache.  That is why at CoilLaw we do not assume that you will complete the document on your own.  We give you the tools and help to ensure your financial declaration is done right the first time.  

Part of the divorce process requires parties to complete a Financial Declaration, which lays out a parties current financial status and validates their status with documentation.  The declaration helps the court make important decisions such as calculating alimony and child support. Completing a Financial Declaration adds stress and pressure to an already emotional time. The declaration demands that you collect documents, nit-pick through your expenses, and make you face the reality of your spending habits. Fortunately for you, the experienced Attorneys at CoilLaw have dealt with hundreds of Financial Declarations and know a thing or two about taking the pressure off you- and your checkbook- in completing your declaration.

When starting your declaration, your first thought should be “How can I help my Attorney through this process?” This may seem a little backwards. You might be thinking “I thought I hired an attorney, so they can help ME!” Right?  Wrong. Having the attitude of helping your attorney can save you hundreds of dollars in legal fees and give you more satisfaction in knowing you have done the best you can to assist your case. Your attorney is not familiar with your monthly expenses. They may know a little about your financial situation, but ultimately, they have no idea what you buy at Harmon’s every Saturday. Any time they have to take to understand your financial life adds up fast.

WHAT CAN I DO TO MAKE THIS PROCESS EASIER?

  1. Collect all the documents your attorney requests of you.
  2. Scan the documents if you are able and email them to your attorney.  If you do not have a scanner bring in copies organized so your attorney can scan the documents easily.  
  3. Complete the financial declaration on the computer.  This makes it much easier for your attorney to edit and make changes.  
  4. Review your bank statements to get accurate on your monthly budget.  The more accurate your budget is the better. Be as exact as possible.  The court does not like rounding and wants the numbers to be to the penny.    
  5. Redact personal information (social security numbers, account numbers etc) from your scanned documents.  If you do not have the ability to do so CoilLaw will do this for you.  
  6. While working on your financial declaration write any questions or concerns down to discuss with your attorney on the phone or through email.  

 

If you follow these simple steps it will save you both time and money. If you are going through a divorce you need to ensure you consult with a competent family law attorney that understands the issues and your needs during a divorce.  At CoilLaw, LLC,  Divorce attorney Jill Coil and her staff know how to advise you during a divorce to help you achieve the best settlement and/or result possible, including perfecting financial declarations.  At CoilLaw we are ready and available to help you through your legal action. If you need legal advice concerning a Utah family law issue, call Jill Coil at CoilLaw LLC in Utah at (801) 939-6027 today.