Financial Statment Question

I

Itsworthit

New member
Please be nice to me I am still new to this whole process...and am doing it all myself. lol

I have to update my financial statement (it is over 6 months old) since my last financial statement my girlfriend has moved in, she pays half the bills.

My question is; In the household expense section do I have to now cut my monthly bills in half be it that I am only paying half?? Or do I leave as is because essentially it is still a household expense regardless to how much comes out of my pocket.

I am paying a reduced amount of child support because i am also covering a ton of marital debt..would a judge be inclined to increase my CS amount if my financial statement shows I have extra $$? Or is it soley based on my annual income?

I ask this because i know that the ex will bring it up at our SC and I want to make sure I have the right information.

Your input is appreciated.
 
Itsworthit said:
Please be nice to me I am still new to this whole process...and am doing it all myself. lol

I have to update my financial statement (it is over 6 months old) since my last financial statement my girlfriend has moved in, she pays half the bills.

My question is; In the household expense section do I have to now cut my monthly bills in half be it that I am only paying half?? Or do I leave as is because essentially it is still a household expense regardless to how much comes out of my pocket.

I am paying a reduced amount of child support because i am also covering a ton of marital debt..would a judge be inclined to increase my CS amount if my financial statement shows I have extra $$? Or is it soley based on my annual income?

I ask this because i know that the ex will bring it up at our SC and I want to make sure I have the right information.

Your input is appreciated.
Click to expand...

I don't know the right answer to this one. But, I put whole numbers in there - ie 100% of everything. There's a section that asked for other person in the household's income and at what percentage they contribute to the expenses. I offset my expenses with my husband's share in that area.
 
Right - but it also says "Complete this part only if you are making or responding to a claim for undue hardship or spousal support. Check and complete all sections that apply to your circumstances."

Neither are part of this case. She didnt aske for SS and so far she isnt claiming undue...so maybe i am okay?!

Thank you MS MOM!
 
I'm not clear why you have to produce another financial statement? Is this part of your separation agreement?

For most of us, we produce a statement as of the time of separation for the purposes of determining assets and liabilities to be split during the NFP equalization. Then after that, we may have a clause to exchange some financial information annually to reasses child support, but that is usually just the gross income amount on line 150 of the tax return or the NOA.

I'm not sure why you have to show household expenses.
 
Itsworthit said:
Right - but it also says "Complete this part only if you are making or responding to a claim for undue hardship or spousal support. Check and complete all sections that apply to your circumstances."

Neither are part of this case. She didnt aske for SS and so far she isnt claiming undue...so maybe i am okay?!

Thank you MS MOM!
Click to expand...

Oh, yeah, forgot about that part. My ex is claiming undue hardship, so I had to complete that section anyway. Seemed like the logical place to offset at the time.
 
In my case, I will need to fill one out because of 50\50 access? For offset cs.
Or does that just go by line 150? Hope so!

I assume. I just read over the form and was also wondering about putting the entire amount of expenses or not.
 
kingstonmomof2 said:
In my case, I will need to fill one out because of 50\50 access? For offset cs.
Or does that just go by line 150? Hope so!

I assume. I just read over the form and was also wondering about putting the entire amount of expenses or not.
Click to expand...

CS is based on Line 150. The Financial Statement has to be completed if making a motion for CS or a Motion to Change for CS. The forms read that unless you are requesting above guideline, then you don't need to complete it. But, my experience has been to complete it anyway.

I think in your case you put in the child support received for offset in the financial statement and whole numbers for expenses that are household, and your share of the kid's S7 expenses. That's how my lawyer completed my statement from my initial application years ago.
 
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