Ohio Divorce Financial Affidavits
Ohio Divorce Financial Affidavits are required in many counties. This is to first satisfy the requirement that a full and complete disclosure of assets and liabilities has been made.
A court may look at the Financial Affidavit(s) to determine if the provisions of a Separation Agreement or a proposed Dissolution Decree or Divorce Decree are fair and equitable to each party.
While a Separation Agreement, Dissolution Decree, or Divorce Decree do not usually state what the value of an asset is (such as a car, bank account, retirement account, or house) or the amount of debt(s), a financial affidavit will tell the court the value of assets and liabilities.
What Courts Look At On Ohio Divorce Financial Affidavits
Courts (or court employees who are reviewing a file) may compare the Separation Agreement and the Divorce Financial Affidavit(s) to see that they are consistent—that all assets and liabilities which are listed in the Affidavit(s) are dealt with in the Separation Agreement, and vice versa- and that everything listed in the Separation Agreement is also listed in the Affidavit(s).
Financial affidavits are also used to evaluate requests for spousal support—this is why you will find sections about income and monthly expenses. Even if there is no request for spousal support in your case, you still have to fill out the sections on income and expenses.
The main things in filling out Financial Affidavit(s) are: that they are complete and that they are consistent with the Separation Agreement (or Judgment Entry)—the assets and liabilities that are listed in the Separation Agreement should be listed in the Financial Affidavit, and the assets and liabilities that are listed in the Financial Affidavit(s) should be listed in the Separation Agreement.
Who Files the Financial Affidavit(s)
In a Dissolution of Marriage, both parties each individually fill out the Financial Affidavit(s). In a Complaint for Divorce proceeding, the Plaintiff is required to fill out the Divorce Financial Affidavit(s).
The Ohio Supreme Court has adopted divorce financial affidavits which must be honored in all counties. They are known as: the Ohio 1.0 Affidavit of Income and Expenses, and the Ohio 2.0 Affidavit of Property. Many counties have their own financial affidavits. A person can use either the financial affidavits of their county or the Ohio financial affidavits.