Indiana Financial Declaration PDF Template

The Indiana Financial Declaration form is a legal document used in divorce proceedings to disclose a party's financial situation. This form outlines gross income, monthly expenses, and assets, ensuring that both parties present a clear picture of their financial standings during legal processes. Completing this form accurately is essential for fair asset division and support determinations.

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Overview

The Indiana Financial Declaration form plays a crucial role in providing a clear overview of an individual’s financial situation during divorce or custody proceedings. For both the husband and wife, it requires detailed information about income, expenses, and assets. It begins with essential personal details, including names, contact information, and occupations, which set the stage for a thorough evaluation of each party's finances. Next, individuals must disclose their gross weekly income from various sources such as salaries, pensions, child support, and even business income. This part of the form aims to capture the entire financial landscape, helping the court understand the available resources of both parties. Moving on, monthly expenses are meticulously itemized across multiple categories, including taxes, housing costs, and childcare, ensuring no financial obligation goes unnoticed. Additionally, the form necessitates comprehensive asset disclosure, where parties must list everything from household items to real estate and retirement accounts, clarifying ownership and any existing liens. By structuring the financial information in this manner, the Indiana Financial Declaration not only promotes transparency but also aids in fair decision-making during legal proceedings.

Indiana Financial Declaration Preview

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:

Soc. Sec. No.:

Soc. Sec No.:

Badge/Payroll No.:

Occupation:

Employer:

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:

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

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	(	)

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)

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

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)

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

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.

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:

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

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

↓ Indiana Financial Declaration

File Properties

Fact Title	Description
Purpose	The Indiana Financial Declaration form is used in divorce proceedings to disclose the financial status of both parties, ensuring transparency during asset division and support decisions.
Legal Requirement	Under Indiana Code § 31-15-2-14, parties in a dissolution of marriage must provide a financial declaration to aid in determining spousal support and division of marital assets.
Income Disclosure	Individuals must list all sources of income, including but not limited to, wages, pensions, and child support, to provide a comprehensive overview of their financial situation.
Expenses Listed	The form requires parties to itemize their monthly expenses, including taxes, housing costs, and childcare expenses, helping the court assess financial obligations.
Updates Required	Parties must update the financial declaration with any new information prior to trial, ensuring that the court has the most current financial data to base its decisions on.

Instructions on Utilizing Indiana Financial Declaration

The Indiana Financial Declaration form is an important document used during legal proceedings related to financial matters, such as divorce or child support cases. Filling out this form accurately ensures that all financial information is clearly presented, aiding the court in making informed decisions. The following steps will guide you through the process of completing the form.

Gather Required Information: Before starting, collect necessary documents such as recent pay stubs, tax returns, and any records of additional income or expenses.
Complete Personal Information: Fill in your name, address, occupation, employer, and date of birth in the designated fields.
Fill Out Income Section: Report your gross weekly income by listing amounts from various sources, including salary, pensions, child support, dividends, and any other income.
Calculate Total Income: Add all income sources together and note the total on the appropriate line.
Deduct Expenses: In the next section, list weekly expenses like court-ordered child support, health insurance premiums, and alimony that's being paid.
Calculate Available Income: Subtract the deductions from your total gross weekly income to find your weekly available income.
Report Monthly Expenses: Provide details on your monthly expenses, including taxes, mortgage or rent, utility bills, and any other relevant costs.
Aggregate Total Monthly Expenses: Total all monthly expenses to see your overall expenditure.
Examine Assets: List all known assets, such as real estate, vehicles, bank accounts, and other valuables, indicating their ownership and current value.
Declare Previous Assets: If applicable, describe assets acquired before the marriage or through inheritance, along with their values.
Certification: Complete the declaration by signing and dating the form, affirming that your statements are accurate and truthful.
Certificate of Service: Finally, include a certificate indicating that you have provided a copy of this declaration to the relevant parties as required by law.

Important Facts about Indiana Financial Declaration

What is the purpose of the Indiana Financial Declaration form?

The Indiana Financial Declaration form is a crucial document often used in divorce proceedings within Indiana. It requires both parties to disclose their financial information comprehensively. The objective is to provide a clear picture of each party's income, expenses, assets, and liabilities. This transparency assists the court in making fair decisions regarding the division of marital property and determining any support obligations, like alimony or child support.

Who needs to complete the Indiana Financial Declaration form?

Both spouses involved in a divorce or legal separation must complete this form. It applies equally to husbands and wives, regardless of their income levels or financial complexity. Each spouse is responsible for accurately reporting their financial status, ensuring that the information is up-to-date and truthful as of the date the divorce petition was filed.

What information is required on the form?

The form includes various sections that require detailed financial disclosures. You will need to report your gross weekly income, including wages, pensions, child support received from prior marriages, and any other sources of income. Additionally, you must list your monthly expenses such as housing, utilities, insurance, and childcare costs. Finally, you will be required to disclose assets like real estate, vehicles, bank accounts, and any liabilities attached to those assets.

How do I calculate my income for the form?

Calculating your income for the Indiana Financial Declaration form involves totaling all sources of weekly income. You should collect your last three payroll stubs to reflect an accurate gross weekly income. Be sure to include all relevant income streams like retirement benefits, investment returns, and any child support received from previous marriages. Remember to exclude non-qualifying assistance like Social Security Income and food stamps.

Are there consequences for not accurately completing the form?

Yes, providing false or misleading information on the Indiana Financial Declaration can have serious repercussions. It may affect the court's decisions regarding asset division or child support obligations. In some cases, it could lead to penalties, including contempt of court. It's essential to be meticulous and truthful in your disclosures to maintain the integrity of the process.

Can the form be amended after submission?

Yes, if you discover that the information originally reported becomes inaccurate or if changes occur in your financial situation before the trial, you have a duty to amend the Indiana Financial Declaration. Keeping the form updated ensures that the court has the most accurate picture of your financial status, which is vital for fair consideration of all related financial responsibilities.

How do I submit the Indiana Financial Declaration form?

The Indiana Financial Declaration form must be filed with the appropriate court handling your divorce case. You can generally submit this form either in person or through the mail. It’s advisable to keep a copy of the filed document for your records. Additionally, you may be required to serve a copy to the other party involved in the divorce, which is specified in the Certificate of Service section of the form.

Common mistakes

Filling out the Indiana Financial Declaration form is a critical step during divorce and custody proceedings. However, many individuals make common mistakes that can lead to complications or delays. Understanding these errors is essential for a smooth process.

One common mistake is failing to provide accurate income information. Individuals sometimes forget to include all sources of income. This includes not just salaries but also bonuses, rental income, and any other relevant earnings. Being thorough in reporting your total gross income is vital, as missing even a small amount can affect calculations of support obligations.

Another frequent error involves inaccurately reporting expenses. When listing monthly expenses, many people underestimate their costs. For example, while they may recall mortgage payments, they might forget to include utilities or groceries. Accurate reporting of expenses is crucial, as it helps establish a true picture of financial needs.

Some individuals fail to attach required documentation. The form requests the last three payroll stubs and calculations for business income and expenses. Missing these attachments can cause delays in processing. It's vital to double-check that all supporting documents are included before submission.

People often overlook the need for consistent valuation dates. When disclosing assets, including real estate and vehicles, it is important to establish a clear valuation date. Using different dates for different assets can lead to confusion and misinterpretation of your financial status.

Additionally, overlooking joint assets is a mistake that can have significant implications. Many forget to report assets that are jointly owned, whether they were acquired during the marriage or prior to it. Omitting these can misrepresent the overall financial situation.

Another mistake occurs in the section regarding liabilities. Some individuals neglect to disclose all debts. Failing to mention loans, credit card debt, or other financial obligations can skew the financial declaration. Transparency is key to an accurate representation of one's financial obligations.

Additionally, incorrectly calculating weekly amounts can lead to serious discrepancies. Individuals sometimes incorrectly multiply monthly expenses or fail to account for weekly variations. It’s essential to use the proper formula to ensure that weekly expenses accurately reflect monthly costs.

Finally, failing to sign and date the document can invalidate the entire submission. It’s easy to overlook this simple yet critical step. Ensure that the signature is completed, and the date of execution is properly filled to avoid processing issues.

In conclusion, taking the time to carefully review and accurately complete the Indiana Financial Declaration form can prevent costly mistakes. Ensuring that all required information is included and accurately represented will lead to a more efficient legal process.

Documents used along the form

When navigating family law proceedings in Indiana, several important documents often accompany the Indiana Financial Declaration form. Each of these documents plays a vital role in ensuring that all financial information is disclosed transparently, aiding the court in making informed decisions.

Petition for Dissolution of Marriage: This is the formal request submitted to the court to initiate the divorce process. It outlines the basic information about the marriage and the grounds for dissolution.
Marital Settlement Agreement: This document details the terms agreed upon by both spouses regarding the division of assets and debts, custody arrangements, and support obligations. It serves to prevent future disputes.
Child Support Worksheet: Used to calculate the amount of child support based on the parties' financial declarations and the needs of the children involved, this form helps ensure that support obligations are calculated fairly.
Parenting Plan: This outlines the agreed-upon arrangements for the care and custody of children following separation, including custody schedules and decision-making responsibilities.
Notarized Affidavit: In certain cases, a sworn statement may be required to confirm specific facts regarding income, expenses, or other relevant financial details. The affidavit adds a layer of credibility to the submitted data.
Property Valuation Documents: These documents provide appraisals of marital assets, helping the court determine fair division. They may include real estate appraisals or valuations of business interests and investments.
Income Verification Documents: These may consist of pay stubs, tax returns, and W-2 forms that verify income claims made in the financial declaration, ensuring that all figures are supported by evidence.

Understanding these documents is crucial for anyone involved in a divorce or custody case in Indiana. Each form contributes to a comprehensive understanding of the financial landscape, which ultimately supports equitable decisions by the court.

Similar forms

Financial Affidavit: Like the Indiana Financial Declaration, a Financial Affidavit provides a detailed account of an individual's income, expenses, assets, and liabilities. It is often required in divorce proceedings and child support cases to determine financial obligations. Both documents aim to provide a clear financial picture for the court.
Child Support Worksheet: The Child Support Worksheet serves a similar purpose of summarizing financial information relevant to child support calculations. It includes income, expenses, and the number of children involved. Much like the Indiana Financial Declaration, it aids the court in evaluating each parent's financial capacity.
Net Worth Statement: A Net Worth Statement outlines an individual’s total assets and liabilities. It helps in assessing financial health and stability. The connection to the Indiana Financial Declaration lies in its role in disclosing assets and debts during legal proceedings, particularly in divorce cases.
Financial Disclosure Statement: This statement is often used in legal contexts to disclose financial information relevant to a case. Similar to the Indiana Financial Declaration, it requires individuals to report their income, expenses, and assets, ensuring that all parties have the necessary information for fair proceedings.
Spousal Support Affidavit: This affidavit is used to request spousal support and includes a detailed breakdown of financial information including income and expenses. It overlaps with the Indiana Financial Declaration by delineating financial obligations and capabilities to support claims for alimony or support.

Dos and Don'ts

When filling out the Indiana Financial Declaration form, it is essential to follow specific guidelines to ensure accurate and complete information. Here are five key do's and don'ts to consider.

Do provide accurate income details. Ensure all sources of income are included.
Don’t omit any known debts or liabilities. Full disclosure is crucial for an accurate financial picture.
Do verify the information from recent pay stubs and bank statements. Using the most current documents increases reliability.
Don’t include non-relevant income sources, such as government assistance programs like ADC or SSI, as these should not be reported.
Do disclose all household members and their relationships. This information may be important for considering shared expenses.

By adhering to these guidelines, you can help ensure a smoother process when filing the Indiana Financial Declaration form.

Misconceptions

1. Misconception: The Financial Declaration is optional.

Many individuals believe that filling out the Indiana Financial Declaration form is not mandatory. In reality, this document is often required by the court during divorce or separation proceedings. Failing to submit it can lead to delays or negative consequences in your case.

2. Misconception: Only income is relevant.

Some people mistakenly think that only income matters in the Financial Declaration. However, both income and expenses play crucial roles in this declaration. All financial aspects must be reported accurately to provide a clear picture of your financial situation.

3. Misconception: All expenses can be included.

It’s a common belief that any expense can be claimed on the form. However, the declaration specifically outlines which expenses are relevant. For instance, personal expenditure like haircuts and entertainment must be reported, but certain government assistance benefits should not be included.

4. Misconception: Providing approximate values is acceptable.

Many people think that rough estimates are adequate for valuing assets. In fact, accurate documentation and valuation are essential. Courts require precise information to make informed decisions regarding asset division and child support.

5. Misconception: I can hide certain assets.

Some individuals consider not disclosing particular assets, believing they can keep them hidden. This tactic is risky and may lead to severe legal repercussions, including charges of perjury or judgments against you.

6. Misconception: Child support payments are not considered income.

Many assume that child support payments don’t factor into their gross income. However, any child support received from previous relationships must be reported in the financial declaration, as it affects the overall financial assessment.

7. Misconception: I can leave out debts.

Some believe it's fine to omit debts from the declaration. This is incorrect. All debts must be disclosed, as they directly impact your financial standing and potential obligations in the separation process.

8. Misconception: Only current information is relevant.

Individuals often think that only their present financial situation matters. However, the court may require historical context regarding assets and debts. Accurately reporting past financial conditions is vital for transparency in your case.

9. Misconception: The form is a one-time requirement.

Lastly, some individuals think that once they submit the Financial Declaration, their obligation ends. In reality, you must update the form if any financial information changes before the trial. Keeping the court informed is essential for maintaining compliance.

Key takeaways

The Indiana Financial Declaration form is essential for accurately reporting your financial situation in court.
Attach supporting documents, such as the last three payroll stubs, to validate your income information.
Ensure to include all sources of income, such as wages, child support, and any business income, to provide a complete picture of your financial status.
Clearly list all monthly expenses and deductions, including taxes and insurance, to give the court a clear view of your financial obligations.
Update the form if your financial circumstances change before the trial, as you have a duty to keep the information accurate and current.

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