When couples go through a divorce in Texas, they are typically required to fill out a form called a financial affidavit, which details each party's income, assets, liabilities and expenditures. While at first glance the task may not seem complicated, attempting to put everything on paper, especially in a high net worth divorce, can be a weighty undertaking. But the financial affidavit is extremely important for the calculation of the final divorce settlement, so ensuring accurate numbers should be a primary goal for individuals going through a divorce.
The financial affidavit is used by the court to decide the amount of alimony and child support payments, as well as how any marital property should be divided. With future finances and liabilities at stake, the accuracy of the financial affidavit is crucial. However, it is possible to update or revise an affidavit after it is filed with the court. If your financial situation changes, you should take the necessary steps to make note of the changes on the affidavit.





