How to complete a Form 13 Financial Statement

Posted 1st March 2015 by Dirk Klicker

In this Blog, I discuss how to complete a financial statement.

This Blog is to be read together with the YouTube video above.

A financial statement is also called a Form 13.

Parties must complete a financial statement, if requested by the other party.

I highly recommend parties take advice from an experienced family lawyer, before completing a financial statement.

If you do not complete a financial statement properly, then you may negative impact your family law entitlements.

Before you start I recommend that you collect the following documents:

  1. Current bank, mortgage and credit card statements.
  1. Current payslip.
  1. Current superannuation statement.
  1. File containing household expenses and accounts.

If you have these handy it will be much easier to complete a financial statement.

Now, starting at our website located at www.beaconfamilylaw.com.au.

Go to the Links page.

Then, go to the link to the Family Court of Western Australia.

Then, go to the link marked Kits-Forms and Brochures.

Then, go to Kits.

Now, click on the Financial Statement Kit.

Here, download the Financial Statement Kit, including the Form 13.

Just click on the link.

Download the Word version.

Save a copy before you start.

Save all of your changes as you go.

On page 2, there are important notes on completing a Form 13.

You must read and understand these notes before you start.

You must complete each item. No item should be blank.  Insert the word, “nil”, if you do not own an item, or, if an item has a nil value.

Use whole numbers rounded to the nearest ten. Insert the letter, “E”, if a value is estimated. Insert the letters, “NK”, if the item or value is not known.

On page 3, there is an important warning.

You must make a full and frank disclosure in the financial statement.  You must not omit any of your financial interests.

If you are not sure, then I recommend that you take legal advice from an experienced family lawyer.

On the front page of the financial statement, if appropriate, tick the relevant court box, and the box showing if u r the applicant or respondent.

In Part A, insert your name.

A form 13 is an affidavit. Once completed it must be sworn before an appropriately qualified witness. The affidavit is on the first page. There are penalties for making a false affidavit.

Part B, contains a summary.  Complete Part B at the end.

In Part C, insert your employment details as requested in the appropriate boxes.

In Part D, insert your average weekly income from the various sources indicated.

In the YouTube example, Jessica Smith receives wages of $780.00 gross per week. She also receives, rent of $160.00 gross per week. And, she receives, income from a business and child support from Adam Smith.

In Part E, insert the details of the other income earners living with you.

In the example, Jessica’s son, Luke, lives with Jessica and he is working.

In Part F, insert the details of the expenses paid by anybody else for you. It is okay to estimate. Just insert the letter E.

In Part G, insert the details of your average weekly expenses.

In this Part, you insert the expenses that you pay on an average weekly basis.

In the example, you can see Jessica’s average weekly expenses.

Jessica has other expenses that she has not estimated, so she put “Not Known” in Item 32.

In Part H, put the expenses you pay for others.

In the video, Jessica pays expenses for Luke and Samantha.

In Part I, insert the property in which you have an interest.

In the video, Jessica has a 50% share in 2 pieces of real estate, some savings, life insurance with no surrender value, a car, a business and household contents.

In Part J, insert details of the superannuation.

Jessica, has $46,000.00 in her AMP Flexible Superannuation Account, which is an accumulation interest. She has no other superannuation.

In Part K, insert details of all of your debts.

Jessica has two mortgages, (shared equally with her former husband Adam Smith), and she has $5,000.00 owing on her Visa Credit Card.

In Part L, you must disclose any financial resource that you have an interest in.

I recommend that you take legal advice about your particular financial resources, if any. If you are able, or likely, to receive funds from any person or entity, then it must be disclosed.

In Part M, insert the details of any property disposed of in the 12 months before and since separation.

Part N must be completed if u are seeking spousal maintenance or child support. Otherwise do not complete Part N. Jessica has completed Part N.

In Part O, you should insert any additional information that explains your previous answers, if there is any doubt.

Now, remember to go back and complete the summary in Part B.

I highly recommend that an experienced family lawyer reviews your draft financial statement before you swear the affidavit.

If you have any other questions about how to complete a financial statement, please telephone one of our friendly staff.