Financial Affidavits are sworn statements each spouse must provide regarding their finances. They are critical in any divorce.

The old two-page Financial Affidavit form has been replaced with two alternate forms, a long and a short version. The long form (six pages), is used when income or net assets exceed $75,000. The short form (four pages) is used in all other cases.

Both new forms ask explicitly for more detailed information about income, expenses, assets and debts than did the old form. Each is also more clear than was the old form that willful misrepresentations can result in penalties.

So is this an improvement? The early verdict among attorneys and clients seems mixed. Some report that the old form was too basic, and the new forms add important information. Others find the new forms too long and poorly laid out.

If you don’t like the new forms, CT Practice Book §25-30 still allows anyone to use their own manuscript Financial Affidavit, so long as they meet the requirements of that section.