{"id":351917,"date":"2016-04-04T11:02:42","date_gmt":"2016-04-04T16:02:42","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/family\/marriage\/sample-financial-statement.html"},"modified":"2024-12-02T12:39:00","modified_gmt":"2024-12-02T17:39:00","slug":"sample-financial-statement","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/family\/marriage\/sample-financial-statement.html","title":{"rendered":"Prenuptial Agreement Financial Disclosures"},"content":{"rendered":"\n
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Prenuptial Agreement Financial Disclosures<\/h1>\n
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\n By Hannah Hilst<\/a> | Legally reviewed by Laura Temme, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

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Finances are an essential consideration for most couples going into marriage. Having an honest and accurate picture of your spouse’s financial health is vital. One way to gauge a person’s financial health is through a financial statement.<\/p>\n\n <\/div>\n\n

The purpose of a financial statement is to list your income, assets, and liabilities. A financial statement can help couples plan for events such as buying a home, having a baby, or starting a business. It is also helpful in preparing for prenuptial or premarital agreements<\/a>.<\/p>\n

This article explores a few elements of financial statements. It also provides a sample statement to help you get started. This sample is a starting point. Seek advice from an experienced family law attorney as you prepare your statement.<\/p>\n

What Is a Prenup Financial Disclosure?<\/h2>\n

Financial statements help describe each person\u2019s financial information upon entering the marriage<\/a>. These legal documents give future spouses and their attorneys a clear view of the available resources and obligations. Each fianc\u00e9(e) prepares and shares their own disclosure statement.<\/p>\n

A full financial disclosure can serve both logistic and emotional purposes. You might have discussed financial matters<\/a> before your engagement, but it can be helpful to see everything on paper. The goal is to start building your shared plans and prenup with full transparency.<\/p>\n

This disclosure can give both people peace of mind before becoming legally intertwined in marriage<\/a>. Sometimes, partners make assumptions about the other\u2019s finances while dating \u2014 only to discover they were wrong after the wedding. If one partner has undisclosed debt, it may become a shared debt<\/a> through marriage. These statements can prevent the shock of significant hidden wealth or debts.<\/p>\n

A financial disclosure does not automatically classify your assets and debt as separate property<\/a>. The other elements of your prenup can list what you consider separate versus marital property.<\/p>\n

How To Disclose Your Finances to Your Fianc\u00e9(e)<\/h2>\n

A financial disclosure is more sophisticated than a spreadsheet of your bank accounts. It is a specific type of legal document. You must follow the requirements to ensure your prenup would have enforceability in a divorce.<\/p>\n

Gather Your Documents<\/h3>\n

The first step in preparing a financial statement is gathering all your documents<\/a>. Make a list of all the financial institutions you use, including credit unions. Get your bank account numbers from each one. Get detailed information if you have loans, such as a mortgage, car, or personal loan. You must know the amount you owe and the interest rate you pay.<\/p>\n

Find your tax returns from the past few years. If you have credit cards, know the names of each creditor, the amount you owe, and the interest rate you pay. Know the monthly amounts you pay for all your bills. List your property taxes<\/a> on the financial statement if you own your home.<\/p>\n

Get appraisals for tangible, physical property, such as antique furniture, artwork, or jewelry. An appraisal will help you determine the fair market value for these items.<\/p>\n

Use a Worksheet<\/h3>\n

Once you have gathered your documentation, create a worksheet. Use a separate sheet of paper to itemize your assets and liabilities. Be sure to include things like alimony and child support in your calculations. Add up your assets and your liabilities.<\/p>\n

Once your calculations are complete, you can calculate your net worth. Subtract your liabilities from your assets. The remaining figure is your net worth. Use this information to draft a financial statement for professional review.<\/p>\n

Include an Affidavit<\/h3>\n

Financial statements are often part of financial or legal matters. Verifying that a person is telling the truth about their finances is necessary.<\/p>\n

You can include an affidavit <\/a>at the end of your financial statement or prenup. Under penalty of perjury<\/a>, you must certify the truth and accuracy of your statement in the presence of a notary public<\/a>.<\/p>\n

Sample Financial Disclosure Template<\/h2>\n

 The following example illustrates what you might include in your disclosure statement. To complete it, you might review your tax forms, credit card and bank statements, pay stubs, and other documents. Use this information to estimate your current income, bills, and spending amounts as closely as possible.<\/p>\n

Get legal advice from your family law attorney during this process. They can help you draft an agreement<\/a> with disclosures that follow state laws<\/a>.<\/p>\n

 <\/p>\n\n
A. Gross Monthly Income<\/b><\/td>\n <\/td>\n <\/td>\n

Source\/Amount ________________\/$________<\/p>\n

Source\/Amount ________________\/$________<\/p>\n

Source\/Amount ________________\/$________<\/p>\n

Total Monthly Income: $________________<\/p>\n<\/td>\n<\/tr>

B. Deductions From Gross Income<\/b><\/td>\n <\/td>\n <\/td>\nAmount<\/b><\/td>\n<\/tr>

State Income Tax<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Federal Income Tax<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Social Security<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Self-Employment Tax<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Health Insurance<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Union Dues<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

IRA\/Retirement Plans<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Child Support<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Alimony<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Total Deductions<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

C. Net Monthly Income<\/b> (Subtract total deductions from Gross Monthly Income)<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$________________<\/p>\n<\/td>\n<\/tr>

D. Monthly Expenses<\/b><\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

Amount<\/b><\/p>\n<\/td>\n<\/tr>

Rent\/Mortgage<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Food and Household Goods<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Utilities<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Childcare<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Transportation<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Healthcare<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Health Insurance Premiums<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Life Insurance Premiums<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Motor Vehicle Insurance<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Household Goods<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

Property Taxes<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

$____________________<\/p>\n<\/td>\n<\/tr>

 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>

Total Monthly Expenses<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n$____________________<\/td>\n<\/tr>

Assets<\/b><\/p>\n<\/td>\n

 <\/td>\n

Fair Market Value<\/b><\/p>\n<\/td>\n

Amount Owed<\/b><\/p>\n<\/td>\n<\/tr>

 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>

Primary Home<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Vacation Home<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Real Estate\/Real Property<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Cars\/Motor Vehicle(s)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Recreational Vehicle<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Boat(s)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Furniture<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Home Furnishings<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Appliances<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Artwork<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Jewelry<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Computer(s)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Personal Property<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Cash<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Stocks\/Bonds\/Funds<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Stock Options<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Checking Account(s)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Savings Account(s)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Retirement\/Pensions<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Profit Sharing<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

IRA(s)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Business(es)<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Professional Practice<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Life Insurance<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Other Assets<\/p>\n<\/td>\n

 <\/td>\n

$_______________<\/p>\n<\/td>\n

$_______________<\/p>\n<\/td>\n

 <\/td>\n<\/tr>

Total Assets<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>

Liabilities<\/b><\/p>\n<\/td>\n

 <\/td>\n <\/td>\nAmount Owed<\/b><\/td>\n <\/td>\n<\/tr>

Credit Card Debt<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n$_______________<\/td>\n <\/td>\n<\/tr>

Home Loan\/Mortgage<\/p>\n<\/td>\n

 <\/td>\n <\/td>\n$_______________<\/td>\n <\/td>\n<\/tr>
Student Debt<\/td>\n <\/td>\n <\/td>\n$_______________<\/td>\n <\/td>\n<\/tr>
Medical Debt<\/td>\n <\/td>\n <\/td>\n$_______________<\/td>\n <\/td>\n<\/tr>
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>

TOTAL ASSETS: $_______________<\/b><\/p>\n<\/td>\n

 <\/td>\n <\/td>\n

TOTAL LIABILITIES: $_______________<\/b><\/p>\n<\/td>\n

 <\/td>\n<\/tr>

E. NET WORTH:<\/b> (assets minus liabilities) $___________________________<\/b><\/p>\n<\/td>\n

 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr><\/tbody><\/table>\n

Do Laws Require Financial Disclosures Before Marriage?<\/h2>\n

State laws set marriage requirements<\/a>, but you generally don\u2019t need a financial statement to get married. Rather, some states require it for prenuptial and postnuptial agreements<\/a>. In states where it\u2019s not a requirement, including one is still a good way to protect your prenup\u2019s enforceability.<\/p>\n

Regardless of whether you have a prenup, misleading your fianc\u00e9(e) about finances can still have legal consequences. For example, California courts <\/a>may rule a marriage invalid due to fraud<\/a> if you hide or lie about a significant financial obligation. For example, a partner might conceal spousal support<\/a> payments from a prior divorce. Such rulings are annulments<\/a>, which typically don\u2019t offer the same property rights as a divorce.<\/p>\n

How Does a Financial Disclosure Affect Divorce?<\/h2>\n

In the event of a divorce<\/a>, your financial statement can have a few benefits. As a key part of your prenuptial agreement, it is among the early factors to consider in the divorce process<\/a>.<\/p>\n

First, it can help you prove whether your prenup is enforceable. Full disclosure is one factor that determines if your agreement will hold up when the marriage ends. If your spouse only gave a partial financial disclosure, you may argue the prenup is invalid<\/a>. If you both gave a full disclosure, you might argue in favor of the prenup\u2019s validity.<\/p>\n

Second, it could play a minor role in property division<\/a>. This document records a snapshot of the assets and liabilities each person brought into the marriage. It doesn\u2019t guarantee you\u2019ll have a right to keep all your original property. Your prenup and state laws may specify a different arrangement. Yet, it could be a useful reference when negotiating a settlement<\/a> or contesting assets in court.<\/p>\n

Get Help for Your Prenuptial Agreement<\/h2>\n

Mixing money is a complex matter. Accurate and complete disclosure from you and your partner is imperative. An experienced local family law attorney<\/a> can help you prepare a financial statement.<\/p>\n

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