September 10, 2020
Accountants can ready divorce financial paperwork, reducing costs

Many are not aware that a professional accountant can prepare a financial affidavit for divorcing couples. It's not a task that can only be done by a lawyer.

When filing for divorce — whether it’s in Florida or anywhere else — children and finances are among the main issues of concern. Even if an individual has been divorced before, each situation has its own unique factors at play and specific issues to consider.

There are, of course, costs associated with getting a divorce. But a signed financial affidavit, required in Florida within 45 days of filing your petition, does not have to be prepared by an attorney. An accountant can prepare this affidavit for you at a more affordable rate than a lawyer’s office would charge. (With a potentially expensive legal process such as a divorce, every dollar saved along the way matters.)

Documenting dollars
Many people are not aware that a professional accountant can prepare a financial affidavit for divorcing couples. It’s not a task to be taken on by unqualified individuals, however — In this process, figuring out which items are taxable and which are not is an important consideration. For example, if the couple has a summer home that is sold, sales tax needs to be calculated into that equitable-distribution puzzle.

A financial affidavit discloses fiscal information on:

·       Income

·       Assets — Including money, property or retirement accounts

·       Debts

·       Tax returns

·       Bank statements

·       Credit card statements

·       Personal financial statements

In a Florida divorce, each spouse is responsible for filing a financial affidavit, a sworn statement of their financial status.

Kerby Accounting & Business Solutions can create these affidavits for you at a more affordable price than an attorney’s office can, with attention to detail assured. After all, bookkeeping and taxes are what we do, year in, year out.

Kari Kerby

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