This video is intended only to provide general legal information about how to fill out a Short Form Financial Statement.
The information in this video is not intended to be relied upon as legal advice. For legal advice you should consult an attorney.
By continuing with this video, you are agreeing to the statement above.
All questions in this section must be answered. Do not leave any blank lines and do not write N/A. If a line does not apply to you, simply put a zero.
Paragraph 5. Other Deductions from Salary/Wages
Credit Union (Loan repayment) (Savings). If your work takes money out of your paycheck and puts it into a savings account or to repay a loan, write that here.
Retirement. Do you have a pension or other retirement account or benefit as one of your benefits at work that does not identify as a 401K or Social Security contribution? Add the weekly amount taken out of your paycheck here.
Other- Specify (i.e. Child Support, Deferred Compensation or 401K). This section is a “catch-all” for all items that come out of your paycheck that do not fit into other categories.
Total Deductions. Add all of the amounts written on the lines in this section and write that number here.
Paragraph 6. Net Weekly Income
This number is the total amount of money you get from your work in your paycheck after paying taxes and other deductions. To get this number, take your ADJUSTED NET WEEKLY INCOME from page 2 and subtract your Total Deductions.
Paragraph 7. Gross Yearly Income from Prior Year
How much money did you make last year? This question asks for your gross (before taxes are taken out) income from your work for the last calendar year. Calendar year means the first day in January through the last day in December.
Number of years paid into Social Security. This is typically the number of years you have had a job and paid social security taxes on your income. If you are unsure about how many years you have paid into Social Security, you can look it up on the Social Security website. It gives the court a general idea as to whether you would qualify for retirement payments from Social Security when you reach retirement age. If you are unsure or unable to look up your history, you may estimate the number of years. Be sure to write Est. in front of your estimated number.