FORM 13 - EXPLAINING THE FINANCIAL STATEMENT
- If your matter relates to property settlement and proceedings are instituted in Court, then you will need to complete and file a Form 13 (or Financial Statement).
- At first glance, this can be very confusing and cumbersome document.
- It is however a very important document and it is extremely important that this document be completed carefully and truthfully.
- In the Financial Statement, you must make a full and frank disclosure of all of your financial affairs.
- As you read through the statement you will see that it includes parts relating to your income, expenses, property, liabilities and Superannuation.
- The document must be sworn under oath, if the document is not completed truthfully, possible criminal offences can impact upon you.
- It is extremely important to read the notes at the beginning of the form as to how to complete the form.
- Attached to this Information Sheet is a copy of Part 13.1 of the Family Law Rules 2004- please take the time to read this.
- The form is however, not as difficult as it may first appear and the following pointers may help you to complete the form:
- The figures you provide must be actual income and expenditure - not desired income and expenditure;
- Figures relating to income and expenses are weekly figures. If you do not know the exact amount that you spend or receive on a weekly basis then you should make the best estimate that you can;
- In some situations it may be best to estimate what you think that you will spend over the next year on an item and divide this by 52. For example, when estimating household replacements, you might believe that you will spend about $200.00 during the next year on replacing household items, therefore you should put "E$4.00" next to household replacements in the expenses area;
- In the property part of the form you only have to list and estimate the value of your legal interest in certain property. For example, if you and your partner own a home jointly then you should list the property and put in the value of your share of the property (i.e. one-half).
- You will need to include details about Superannuation entitlements. It is also necessary for you to obtain a valuation of your superannuation interests, where your interest is valued under the Family Law Regulations. This valuation can be different to the balance on your member statement and is obtained be sending a superannuation information form to your fund. We can attend to this on your behalf.
- Under the "Financial Resources" section, you will need to include details about any interest you have in any trust any pending legal proceedings, any interest in an undistributed estate or any property in which you act as guarantor for a mortgage or other loan.
- If you have bought property with a new partner either jointly or in your new partner's name or you have contributed money to allow your new partner to purchase assets, please tell us so we can advise you of how this situation should in included in your financial statement if at all.
- The figures you provide must be actual income and expenditure - not desired income and expenditure;
- Do not worry if you have trouble completing some parts of the form. We will usually provide you with a blank Form 13 and ask you to complete it in draft to the best of your ability. Please send the form back into us and we will then consult with you and finalise the form properly before you sign it.
- The form must be amended at any time if your circumstances change significantly.
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Dear Sarah
Marco and I wanted to thank you so much for all your hard work and expertise. Your kindness, understanding and patience with us was much appreciated. We’ve dealt with many people over the last two years and it was great finally to meet someone who treated us so kindly.
You were wonderful,
Thank you
Marco and Helen
