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The Indiana Financial Declaration form is a crucial document in family law cases, particularly during divorce proceedings. It provides a comprehensive overview of an individual's financial situation, ensuring that both parties have a clear understanding of income, expenses, and assets. This form requires detailed information about gross weekly income, including salaries, pensions, and any child support received from previous relationships. Additionally, it outlines monthly expenses, such as taxes, housing costs, and healthcare expenses, which are essential for determining financial obligations. The form also prompts individuals to disclose their assets, including real estate, vehicles, and retirement accounts, along with any liabilities associated with those assets. By gathering this information, the Indiana Financial Declaration helps courts make informed decisions regarding support payments and property division, ultimately aiming for a fair resolution for all involved.

Sample - Indiana Financial Declaration Form

FINANCIAL DECLARATION FORM

STATE OF INDIANA: CIRCUIT AND SUPERIOR COURTS

OF PORTER COUNTY

IN RE THE MARRIAGE OF:

Cause Number:

Petitioner,

And

Respondent

In accordance with Local Rule 18 of the Porter Superior Court and Indiana Trial Rules 26, 33, 34, 35 and 37, the undersigned, Petitioner or Respondent, hereby submits the following

VERIFIED FINANCIAL DISCLOSURE STATEMENT:

FINANCIAL DECLARATION OF

 

 

 

 

 

 

 

 

Dated:

 

I. PRELIMINARY INFORMATION:

 

 

 

 

 

 

 

 

 

Husband:

 

 

Wife:

 

Address:

 

 

Address:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Soc. Sec. No.:

 

 

Soc. Sec No.:

 

Badge/Payroll No.:

 

 

Badge/Payroll No.:

 

Occupation:

 

 

Occupation:

 

Employer:

 

 

Employer:

 

Birth Date:

 

 

Birth Date:

 

 

 

 

 

 

Date of Marriage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of Physical Separation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of Filing:

 

 

 

 

 

 

 

 

 

 

Children:

 

 

 

 

 

Name:

 

Age:

 

DOB:

 

SSN:

Name:

 

Age:

 

DOB:

 

SSN:

Name:

 

Age:

 

DOB:

 

SSN:

1

II. HEALTH INSURANCE INFORMATION:

Name and Address of health care insurance company:

Name all persons covered under plan(s):

Weekly cost of total health insurance premium:

Weekly cost of health insurance premium for children only:

Name of the children’s health care providers:

The names of the schools and grade level for each child are:

List any extraordinary health care concerns of any family member:

List any educational concerns of any family member:

III.INCOME INFORMATION:

A.EMPLOYMENT HISTORY:

Current Employer:

Address:

Telephone No.:

 

 

 

 

Length of Employment:

 

 

 

Job Description:

 

 

 

 

 

 

 

 

 

 

Gross Income:

 

 

 

 

 

 

 

 

 

 

 

Per week

 

Bi-weekly

 

 

Per month

 

 

Yearly

Net Income:

 

 

 

 

 

 

 

 

 

 

 

Per week

 

Bi-weekly

 

 

Per month

 

 

Yearly

2

B.EMPLOYMENT HISTORY FOR LAST 5 YEARS:

Employer

 

Dates of Employment

 

Compensation (per wk/mo/yr)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

C.INCOME SUMMARY:

1.GROSS WEEKLY INCOME from: Salary and wages, including commissions, bonuses, allowances, and over-time

Note: If paid monthly, determine weekly income by dividing monthly income by 4.3

Pensions & Retirement

Social Security

Disability and unemployment insurance

Public Assistance (welfare, AFDC payments, etc.)

Food Stamps

Child supports received for any child(ren) not both of the parties to this marriage

Dividends and Interest

Rents received

All other sources (specify)

TOTAL GROSS WEEKLY INCOME

2.ITEMIZED WEEKLY DEDUCTIONS: from gross income

State and Federal Income Taxes:

Social Security & Medicare Taxes:

Medical Insurance

 

 

 

Coverage:

Health

(

 

)

 

Dental

(

 

)

 

Eye Care

(

 

)

 

Psychiatric

(

 

)

3

Union or other dues:

Retirement:

Pension fund: Mandatory ( )Optional ( )

Profit sharing: Mandatory ( )Optional( )

401(K): Mandatory ( ) Optional ( )

SEP: Mandatory ( ) Optional ( )

ESOP: Mandatory ( ) Optional ( )

IRA: Mandatory ( ) Optional ( )

403 B: Mandatory ( ) Optional ( )

Child Support withheld from pay (not including this case)

Garnishments (itemize on separate sheet)

Credit Union debts

Direct Withdrawals Out of Paychecks:

Car Payments

Life Insurance

Disability Insurance

Thrift plans

Credit Union Savings

Bonds

Donations

Other (specify)

Other (specify)

TOTAL WEEKLY DEDUCTIONS:

3. WEEKLY DISPOSABLE INCOME:

(A minus B: Subtract Total Weekly Deduction from Total Weekly Gross Income)

IN ALL CASES INVOLVING CHILD SUPPORT: Prepare and attach an Indiana Child Support Guideline Worksheet (with documentation verifying your income); or, supplement with such a Worksheet within ten (10) days of the exchange of this Form.

IV. MONTHLY LIVING EXPENSES:

House

1.Rent (Mortgage)

2.2nd Mortgage

4

3.Line of Credit

4.Gas/Electric

5.Telephone

6.Water

7.Sewer

8.Sanitation (garbage)

9.Cable

10.Satellite

11.Internet

12.Taxes (real estate – if not included in mortgage payment

13.Insurance (house – if not included in mortgage payment)

14.Lawn Care/Snow Removal

Groceries

1.Food

2.Toiletries

3.Cleaning Products

4.Paper Products

Clothing

1.Clothes

2.Shoes

3.Uniforms

Health Care

1.Health Insurance not deducted from pay

2.Dental Insurance not deducted from pay

3.Doctor visits (non-insurance covered)

4.Dental visits (non-insurance covered)

5.Prescription Pharmaceutical (non-insurance covered)

5

6.Over-the-counter medicine

7.Glass/contact lenses

8.Other non-insurance covered health care (itemize)

Car & Travel

1.Car Payment

2.Gasoline

3.Oil/Maintenance

4.Insurance (car)

5.Car Wash

6.Tolls

7.Train/Bus

8.Parking Lot Fees

9.License Plates

Beauty Care

1.Hair Dress/Barber

2.Cosmetics

School Needs

1.Lunches

2.Books

3.Tuition/Registration

4.Uniforms

5.School Supplies

6.Extra-Curricular Activities

Infant Care

1.Diapers

2.Baby Food

6

Miscellaneous

1.Church Donations

2.Charitable Donations

3.Life Insurance

4.Babysitter

5.Newspapers & Magazines

6.Cigarettes

7.Dry Cleaning

8.Entertainment

9.Cell Phone

10.Dues/Subscriptions

11.Charge Cards

12.Other (specify)

SUB-TOTAL OF EXPENSES:

Average Weekly Expenses (multiply monthly expenses by 12 and divide by 52)

V. PROVISIONAL ARREARAGE COMPUTATIONS:

If you allege the existence of a child support, maintenance, or other arrearage, attach all records or other exhibits regarding the payment history and complete the child support arrearage.

You must attach a Child Support Guideline Worksheet to your Financial Declaration Form or one must be exchanged with the opposing party/counsel within 10 days of receipt of the other parties= Financial Declaration Form.

7

ASSETS

All property is to be listed regardless of whether it is titled in your name only or jointly of if the property you own is being held for you in the name of a third party.

VI. PROPERTY:

A. MARITAL RESIDENCE:

Description:

Location:

Date Acquired:

 

Titled:

 

Purchase Price:

 

Down Payment:

 

Source of down payment:

 

 

 

 

Current Indebtedness:

 

 

 

 

Monthly Payment:

 

 

 

 

Current Market Value:

 

 

 

 

B.OTHER REAL PROPERTY: (Complete B on a separate sheet of paper for each additional parcel of real estate owned etc.)

Description:

Location:

Date Acquired:

 

Titled:

 

Purchase Price:

 

Down Payment:

 

Source of down payment:

 

 

 

 

Current Indebtedness:

 

 

 

 

Monthly Payment:

 

 

 

 

Current Market Value:

 

 

 

 

8

C.PERSONAL PROPERTY: (motor vehicles, boats, motorcycles, furnishings, household goods, jewelry, firearms, etc. Household furnishings and household goods such as pots and pans need not

be itemized).

Description

Titled

Current Value

Indebtedness

Payment

Present User

VII. BANK ACCOUNTS:

Name

Type of Account

(Checking, Savings,

CD’s, etc.)

Owner

Account No.

Balance on Date of Filing

VIII. NON-RETIREMENT SECURITIES: (stocks, bonds, mutual funds, etc.)

Name

Type of Account

(Money Mkt, Stocks,

Bonds, Mutual Funds)

Owner

Account No.

Value on date of filing

9

IX. LIFE INSURANCE POLICIES (whole life, variable life, annuities, term)

Company

Owner

Policy #.

Beneficiary

Face Value

Loan

Amount

Cash Value

X.RETIREMENT ACCOUNTS (Pension, Profit Sharing, 401(K), SEP, IRA, KEOGH, ESOP, etc.)

Company

Type of Plan

Owner

Account #

Vested (yes/no)

Value as of date of filing

XI. OTHER PROFESSIONAL OR BUSINESS INTERESTS:

Name of Business

Type (Corp., Part., Sole Owner

% Owned

Estimated Value

XII. MARITAL BILLS, DEBTS, AND OBLIGATIONS: (list every single bill, debt and obligation regardless of whether the bill is title in your name, your spouse=s name, or jointly. Please include all mortgages, 2nd mortgages, home equity loans, charge cards, other loans, credit union loans, car payments, and unpaid medical bills, etc. Do not include monthly expenses such as utilities that are paid in full every month).

Creditor

Description

Acct. #

Monthly

Payment

Balance as of

Date of Filing

Current

Balance

10

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Form Information

Fact Name Description
Governing Law The Indiana Financial Declaration form is governed by Indiana state law, specifically related to family law and divorce proceedings.
Purpose This form is used to disclose financial information during divorce or custody proceedings, ensuring transparency regarding income and expenses.
Income Disclosure Petitioners must report all sources of income, including wages, pensions, and child support received from previous marriages.
Expense Reporting Monthly expenses must be detailed, covering taxes, housing costs, and other financial obligations to provide a complete financial picture.
Assets and Liabilities The form requires individuals to list all known assets and their values, as well as any debts secured by those assets.
Certification Requirement Individuals must sign the form under penalty of perjury, affirming that the information provided is accurate and complete.

Detailed Guide for Filling Out Indiana Financial Declaration

Completing the Indiana Financial Declaration form is an important step in the legal process. This form requires detailed information about your financial situation, including income, expenses, and assets. After filling out the form, you will need to file it with the court as part of your legal proceedings.

  1. Obtain the Form: Download or request the Indiana Financial Declaration form from the court's website or office.
  2. Fill in Personal Information: Provide your name, address, occupation, employer, and date of birth in the designated sections for both spouses.
  3. Income Section: List all sources of income. Attach the last three payroll stubs to verify your gross weekly income. Include amounts for salary, pensions, child support, dividends, rents, and any other sources.
  4. Calculate Total Gross Weekly Income: Add up all sources of income from the previous step and record the total.
  5. List Deductions: Subtract any court-ordered child support, health insurance premiums, and alimony from your total gross weekly income to determine your weekly available income.
  6. Monthly Expenses: Document all monthly expenses, including taxes, mortgage payments, utilities, and other living costs. Be thorough and include all relevant expenses.
  7. Calculate Total Monthly Expenses: Add up all monthly expenses and determine your average weekly expenses.
  8. Assets Section: List all assets you own, including household items, vehicles, bank accounts, real estate, and retirement accounts. Provide ownership details and any liens against these assets.
  9. Assets Acquired Before Marriage: Include any significant assets owned prior to marriage or received as gifts or inheritance.
  10. Signature: Sign and date the declaration, confirming that the information provided is true and correct.
  11. Certificate of Service: If applicable, certify that a copy of the declaration has been served to the relevant parties.

Obtain Answers on Indiana Financial Declaration

  1. What is the purpose of the Indiana Financial Declaration form?

    The Indiana Financial Declaration form is used during divorce or legal separation proceedings. It helps the court understand the financial situation of both parties. This includes income, expenses, assets, and debts. By providing a clear picture of finances, the court can make informed decisions regarding child support, alimony, and property division.

  2. Who needs to fill out this form?

    Both spouses must complete the Indiana Financial Declaration form. This ensures that the court has all necessary information from both parties. Each spouse will provide details about their income, expenses, and assets. This transparency is crucial for fair outcomes in financial matters.

  3. What information do I need to provide?

    You will need to provide a variety of information, including:

    • Your gross weekly income from all sources.
    • Details about any child support received from prior marriages.
    • Your monthly expenses, such as housing, utilities, and insurance.
    • A list of assets, including real estate, vehicles, and bank accounts.

    It's important to be thorough and honest. Missing information can lead to complications in your case.

  4. What happens if my financial situation changes after I submit the form?

    If your financial situation changes, you have a duty to update the Indiana Financial Declaration form before your trial. This includes any new income, changes in expenses, or new assets. Keeping the court informed helps ensure that decisions made are based on your current financial reality.

Common mistakes

Filling out the Indiana Financial Declaration form can be a daunting task, and many individuals make common mistakes that can lead to complications. One frequent error is failing to include all sources of income. Many people overlook income from side jobs, freelance work, or rental properties. It's essential to provide a complete picture of financial resources to avoid discrepancies.

Another mistake is neglecting to attach the required payroll stubs. The form specifically requests the last three payroll stubs to verify income. Without these documents, the court may question the accuracy of the reported income, which can delay proceedings.

Additionally, individuals often miscalculate their gross weekly income. This can occur when they do not accurately sum all income sources listed on the form. A careful review of each line item is necessary to ensure that totals are correct and reflect true financial circumstances.

People sometimes forget to include necessary deductions. Items such as child support payments or health insurance premiums should be factored into the calculations. Omitting these deductions can result in an inflated view of available income, which may affect support arrangements.

Another common oversight is failing to disclose all assets. Individuals might think that only significant assets need to be reported, but even smaller assets can be relevant. Listing all assets, regardless of perceived value, is crucial to provide a complete financial picture.

Some also fail to update the form if their financial situation changes. If there are significant changes in income or expenses before the trial, these updates must be communicated. Not doing so could lead to legal consequences or misunderstandings in court.

Lastly, individuals often neglect to review the form for accuracy before submission. Simple errors, such as typos or incorrect figures, can undermine the credibility of the declaration. Taking the time to double-check the form can prevent unnecessary complications and ensure that the information presented is reliable.

Documents used along the form

The Indiana Financial Declaration form is a crucial document used during divorce proceedings in Indiana. It provides a detailed account of an individual's financial situation, including income, expenses, assets, and liabilities. Along with this form, several other documents are commonly required to ensure a comprehensive understanding of the financial circumstances of both parties involved. Below is a list of additional forms and documents that may be used in conjunction with the Indiana Financial Declaration.

  • Child Support Worksheet: This form outlines the financial obligations of each parent regarding child support. It calculates the amount owed based on income, expenses, and the needs of the child.
  • Marital Settlement Agreement: This document details the terms agreed upon by both parties concerning asset division, child custody, and support obligations. It serves as a formal contract once signed.
  • Paternity Affidavit: If applicable, this form establishes the legal father of a child born outside of marriage. It is essential for determining child support and custody arrangements.
  • Notice of Intent to Relocate: This document is filed by a parent wishing to move away with the child. It informs the other parent of the proposed relocation and its potential impact on custody arrangements.
  • Income Verification Documents: These may include pay stubs, tax returns, or other proof of income. They help verify the financial information reported on the Financial Declaration form.
  • Health Insurance Information: This document outlines health insurance coverage for the children involved. It specifies which parent is responsible for providing coverage and any associated costs.
  • Property Settlement Agreement: This agreement details how marital property will be divided between the spouses. It includes information on real estate, vehicles, and other significant assets.
  • Financial Affidavit: Similar to the Financial Declaration, this form provides a snapshot of an individual's financial status, including debts and monthly expenses, and may be required by the court.
  • Parenting Plan: This document outlines the parenting arrangements for the children, including custody schedules, visitation rights, and decision-making responsibilities.
  • Affidavit of Service: This form confirms that legal documents have been properly served to the other party. It is crucial for ensuring that all parties are aware of court proceedings.

Each of these documents plays a vital role in the divorce process, providing clarity and structure to financial and custodial arrangements. Properly completing and submitting these forms can help facilitate a smoother resolution to the proceedings.

Similar forms

The Indiana Financial Declaration form serves as a comprehensive document for individuals involved in divorce proceedings, detailing their financial status. Several other documents share similarities with this form, primarily in their purpose of disclosing financial information. Below is a list of ten such documents, along with explanations of how they are similar to the Indiana Financial Declaration form:

  • Financial Affidavit: This document is often used in family law cases to provide a detailed account of an individual's income, expenses, and assets, much like the Indiana Financial Declaration. Both require the disclosure of financial information to assist the court in making decisions regarding support and division of property.
  • Income and Expense Declaration: Similar to the Indiana Financial Declaration, this form outlines an individual's income and monthly expenses. It helps the court understand the financial situation of the parties involved and is typically used in child support and alimony cases.
  • Asset and Liability Statement: This document lists all assets and liabilities of an individual, akin to the asset section of the Indiana Financial Declaration. It provides a clear picture of one's financial standing, which is crucial during divorce proceedings.
  • Child Support Worksheet: This form calculates the child support obligations based on the financial information provided. Like the Indiana Financial Declaration, it requires detailed income information and expenses related to the child’s care.
  • Spousal Support Worksheet: This document helps determine the amount of spousal support one party may owe to the other. It shares similarities with the Indiana Financial Declaration in that it requires a breakdown of income and expenses to assess financial needs.
  • Financial Disclosure Statement: Used in various legal contexts, this document requires parties to disclose their financial situation, similar to the Indiana Financial Declaration. Both are intended to ensure transparency in financial matters during legal proceedings.
  • Divorce Financial Statement: This statement is specifically designed for divorce cases and requires similar information about income, expenses, and assets. It serves the same purpose as the Indiana Financial Declaration in providing the court with necessary financial details.
  • Net Worth Statement: This document summarizes an individual's financial position by listing assets and liabilities, much like the asset section of the Indiana Financial Declaration. It helps in evaluating the overall financial health of the parties involved.
  • Budget Worksheet: A budget worksheet helps individuals outline their monthly income and expenses. This is similar to the monthly expenses section of the Indiana Financial Declaration, as both aim to provide a clear financial picture.
  • Debt Repayment Plan: While primarily focused on debts, this plan requires a detailed account of income and expenses, similar to the financial disclosures in the Indiana Financial Declaration. Both documents help assess the financial obligations of the parties involved.

Dos and Don'ts

When completing the Indiana Financial Declaration form, it is essential to follow certain guidelines to ensure accuracy and compliance. Below are important dos and don'ts to keep in mind:

  • Do provide complete and accurate information about your income and expenses.
  • Do attach the last three payroll stubs to verify your gross weekly income.
  • Do include all sources of income, such as child support and rental income.
  • Do disclose all assets, even if you are unsure of their value.
  • Do update the form if your financial situation changes before the trial.
  • Don't omit any debts or liabilities related to your assets.
  • Don't include non-qualifying income, such as food stamps or general assistance.
  • Don't forget to sign and date the declaration before submission.
  • Don't leave any sections blank; if a section does not apply, indicate so clearly.

By adhering to these guidelines, you can ensure that your Financial Declaration is thorough and accurate, which can help facilitate the legal process.

Misconceptions

Understanding the Indiana Financial Declaration form can be challenging. Here are ten common misconceptions that may lead to confusion:

  • It's only for divorce cases. Many people believe that the Indiana Financial Declaration is exclusively for divorce proceedings. However, it can also be used in custody cases and other family law matters where financial disclosure is required.
  • Only one party needs to fill it out. Some think that only the petitioner or respondent needs to complete the form. In reality, both parties may be required to submit their financial declarations to provide a full picture of their financial situations.
  • It’s unnecessary if you have no income. Even if an individual has no income, they must still complete the form. It’s important to disclose any financial resources or support received, even if it amounts to zero.
  • All assets must be valued at their current market price. A common misunderstanding is that all assets should be reported at their current market value. In fact, the form requires individuals to disclose the value of assets as of the date the petition for dissolution was filed.
  • Expenses can be estimated. Some believe that they can simply estimate their expenses. It’s crucial to provide accurate figures and documentation, as estimates can lead to complications in court.
  • Child support payments are not included. Many think that child support payments do not need to be reported on the form. However, any child support received or paid must be included, as it affects overall financial calculations.
  • You can leave out debts. Some individuals may think it’s acceptable to omit debts from the declaration. All debts must be disclosed, as they are essential for determining net worth and financial obligations.
  • It’s a one-time submission. There’s a misconception that the financial declaration is a one-time requirement. If circumstances change, individuals must update their declarations before trial.
  • Only income from employment needs to be reported. Many people only report income from their job. However, all sources of income, including rental income, dividends, and any side business earnings, must be disclosed.
  • Legal assistance is unnecessary. Some may think they can fill out the form without legal help. While it’s possible to complete it independently, having legal guidance can ensure accuracy and completeness, preventing potential issues later on.

By clarifying these misconceptions, individuals can better navigate the Indiana Financial Declaration form and fulfill their obligations more effectively.

Key takeaways

Completing the Indiana Financial Declaration form is a crucial step in legal proceedings, especially in family law cases. Here are some key takeaways to keep in mind:

  • Accurate Information is Essential: Ensure that all details provided are correct and truthful. This includes income, expenses, and assets.
  • Include All Sources of Income: List every source of income, such as salary, child support from previous marriages, and any additional earnings. This will help paint a complete financial picture.
  • Document Your Income: Attach the last three payroll stubs to verify your gross weekly income. This step is vital for establishing credibility.
  • Detail Monthly Expenses: Carefully list all monthly expenses, from housing costs to personal expenses. This helps the court understand your financial obligations.
  • Disclose All Assets: Include all known assets, regardless of their value. This includes bank accounts, vehicles, and real estate. Transparency is key.
  • Update as Necessary: If your financial situation changes, you must amend your declaration before trial. Keeping the court informed is your responsibility.
  • Seek Assistance if Needed: If you find the form confusing or overwhelming, consider seeking help from a legal professional. They can guide you through the process.

By following these guidelines, individuals can navigate the Indiana Financial Declaration form more effectively, ensuring that their financial information is presented clearly and accurately to the court.