When is a Statement of Net Worth Exchanged in Florida?
In Florida, spouses going through a divorce are legally required to provide full financial disclosure to each other. This requirement is typically fulfilled through the exchange of various financial documents, including the Florida Family Law Financial Affidavit (Form 12.902(b) for individuals earning under $50,000 annually, and Form 12.902(c)—the Long Form—for those earning $50,000 or more).
Each spouse must complete their own Financial Affidavit, which is a sworn statement signed under oath and notarized. The purpose of this form is to present the court and the other party with a clear and accurate picture of the filer’s financial situation.
How and When the Forms Are Exchanged
In most cases, the Financial Affidavit is exchanged between the parties’ attorneys, or directly between spouses if they are self-represented. Florida law requires this disclosure as part of mandatory financial disclosure, and the completed affidavit must generally be served on the other party within 45 days of the service of the divorce petition, unless waived by mutual agreement.
In contested cases, or if a motion for temporary relief is filed (e.g., requesting child support or alimony), the Financial Affidavit must be filed with the court and shared with the other party before the hearing.
Additional Required Disclosures
Florida courts may also require each party to exchange other supporting documents as part of the mandatory disclosure process, such as:
Failure to comply with these requirements can lead to court sanctions, including orders to compel disclosure, limitations on presenting evidence, or adverse rulings on financial matters.