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GENERAL INSTRUCTIONS FOR PREPARATION OF THE FINANCIAL STATEMENT
1. Every party to a family law matter must file a Financial Statement with the Probate &
Family Court. The Financial Statement is one of the most important documents a party will
file with the Court. Accordingly, it must be completed thoroughly and properly.
2. The Financial Statement is used by the Judge to set support orders and to determine if
agreements are fair and reasonable. Many times it is the primary source of information on
which a Judge bases his or her decisions, or the basis on which settlements are reached.
3. If your income exceeds $75,000.00 per year, you must fill out the long form version.
4. Every question on all pages of the forms must be answered; if you have nothing to put on a
line, write the word “none” or “0”. Supplementary sheets may be used if necessary if the
information does not fall within a question or if further explanation is needed.
5. It is important to note that the financial information be provided in weekly amounts. Divide
monthly amounts by 4.3.
6. Question 8, “Weekly Expenses”, covers ordinary household expenses. The idea is to present
a realistic picture of such expenditures to the Court.
7. Question 10, “Assets”, should be answered completely. It includes items such as business
interests, inheritances and remainder interests in real estate. It also includes such items as
real estate, life insurance, motor vehicles, furniture, silverware, jewelry, boats, as well as
obvious items such as bank accounts, pension funds, 401K accounts, stock portfolios and
pending personal injury claims. If you are a joint owner of an asset, list only your ownership
interest. Business interests and interests in trusts should also be disclosed.
8. Question 11, “Liabilities”, covers major debts, such as credit card debt, student loans and
judgments and legal fees owed.
9. Attach copies of your W2 forms and 1099 forms.
10. If you have rental income or selfemployment income you need to complete and attach
additional forms. Schedule B must be completed if you receive rent from income producing
property. Schedule A must be completed if you receive selfemployment or business
income.
11. Check Your Math and Review It Before You Sign It!
12. The Financial Statement is signed under oath and under the pains and penalties of
perjury – the information you provide must be accurate, truthful and complete. Failure to
do so may not only affect the outcome of your case, but could result in monetary sanctions or
other court orders against you.
13. You must date the form and file the original with the Court.
(Untitled)
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About This Form:
- Sourced from www.mass.gov (2023-03)
- Page(s): 1
- Fields(s): 0
- Average fields per page: 0
- Reading Level: Grade 10
- LIST Grouping(s):
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