How to Fill Out a South Carolina Financial Declaration Form for Family Court

Our Charleston divorce lawyers often get asked how to fill out a financial declaration form for the South Carolina Family Court. It can be time-consuming and sometimes confusing. Aside from the footnotes on the last page, the form includes no instructions. Over the years, we’ve helped hundreds of clients complete their financial declarations.

If you need to complete a financial declaration for your court case and need guidance, the article below answers common questions and offers tips for completing the document. So what is a South Carolina financial declaration, when is it due, and how do you fill it out correctly?

Quick Answer: A South Carolina financial declaration is a sworn statement of your monthly income, expenses, debts, and assets that Rule 20 of the South Carolina Rules of Family Court requires when a party’s finances are relevant, such as in divorce, alimony, and child support cases. List monthly averages, support your numbers with pay stubs and statements, and double-check every total, because mistakes can hurt your credibility and knowingly false statements under oath can have serious consequences.

What is a Financial Declaration in South Carolina?

A family court financial declaration states your income, expenses, debts, and assets. Under Rule 20 of the South Carolina Rules of Family Court, every party must complete it in a domestic relations action where “the financial condition of a party is relevant or is an issue to be considered by the court.” You can find it alphabetically in the list on the State Judicial Website by clicking here, then searching for “Family Court forms.” The numbers used for this form are often used to help a court determine alimony and/or child support.

Fill out this form truthfully and accurately because you sign it under oath before a notary. Knowingly false information on a financial declaration can have serious consequences and hurt your credibility with the judge. Problems can arise if you understate or overstate your income. Think carefully and be as honest as you can.

When Do I Have to Have the Financial Declaration Ready?

According to the Family Court Rules, it must be “filed and served prior to or at the first hearing, or no later than 45 days after the complaint is served, whichever occurs first.” “Filing” means submitting it to the Clerk of Court. “Serving” means providing it to the other party or, if the party has a lawyer, serving the lawyer. You can often serve by hand-delivering it to the other side’s lawyer’s office or by mail, but you must follow Rule 5 of the South Carolina Rules of Civil Procedure.

These rules are not the same as the South Carolina Family Court Rules, but they sometimes apply in divorce and custody cases. If you are the plaintiff and the defendant does not timely answer or otherwise plead, you do not have to serve a financial declaration on the defendant before the final hearing. If you willfully fail to follow the rule on financial declarations, the court may impose reasonable sanctions on you or your attorney.

Can I Use the Financial Declaration Short Form in South Carolina?

The Short Form found on the South Carolina Judicial Website is only used (1) for child support enforcement cases and (2) in petitions for orders for protection. You must use the full form for divorce, custody, and other cases that require a financial declaration.

What Documents Do I Need to Fill Out a Financial Declaration in South Carolina?

Before you start, gather the documents that will support the numbers you put on the form. Having these documents in front of you will make the process faster and will help you explain your numbers to a family court judge if you are ever asked about them:

• Your most recent pay stubs, preferably from a pay period with full hours;
• Your W-2s, 1099s, and last year’s federal and state tax returns;
• Bank and credit card statements for the last three to twelve months;
• Mortgage, rent, car loan, and other loan statements;
• Utility, insurance, child care, and medical bills;
• Retirement, investment, and savings account statements; and
• Any recent appraisals or valuations of real estate, businesses, or other significant property.

How Do I Fill Out the Financial Declaration in South Carolina?

Here’s the tricky part. The financial declaration needs a lot of information; some parts are much harder to figure out than others. In this section, our lawyers will give you some pointers on filling out your financial declaration, including descriptions of different sections:

Caption (Top of Page 1)

If you have a lawyer, they will handle this part for you. If not, you must enter the following information: county, plaintiff’s name, defendant’s name, circuit, and case number. If the other side served you with a Complaint, you may be able to copy most of this information from the top of the document’s first page.

Charleston and Berkeley counties are in the 9th Circuit. Dorchester is in the 1st Circuit. Colleton is in the 14th Circuit. If you are in a different county, this map should help you figure it out. Also, enter your name directly under the words “Financial Declaration” near the top right.

Party Information (Page 1)

The next section is pretty self-explanatory. Fill out the address, age, occupation, employer name, and employer address for both you and your spouse.

Gross Income (Page 1)

Here, list your monthly income. If you get the same paycheck every other week and receive a W-2 at the end of the year, this can be easy. But remember: if you are on a 2-week pay period, don’t just multiply your paycheck by two. This would only give you 28 days of pay and would be understating your income. Instead, multiply your paycheck by 26 (to get the full year of 52 weeks) and then divide by 12 (to bring the year back down to an average month).

The second line asks for overtime, tips, commission, and bonuses. This section can be difficult because these forms of pay are often inconsistent and may increase, decrease, or disappear altogether in the future. In some cases, you may need to average these numbers over the last year, but you may need to use a longer or shorter time frame depending on your situation.

If you’ve seen a recent bump in pay that you expect to continue, you might want to average over a shorter time period. If your job is somewhat seasonal, so some months are routinely better than others, averaging over 12 months might be best to get an accurate indicator of your yearly average. Use your common sense, make your best estimate, and select a number that you could explain with confidence in front of a judge if you ever had to.

For the remaining lines in this section, use numbers that are accurate when you fill out and file the form. For example, you might be receiving disability benefits but expect them to go away in a few months. Report what you are receiving now, and explain any known or expected change if it matters to the court’s decision. If your income later changes, a child support order does not automatically change; you may be able to modify it if you meet the legal requirements.

Some people may anticipate a change in the very near future, such as someone who will start receiving Social Security benefits very soon. Our lawyers make determinations like this on a case-by-case basis, but we have at times put an asterisk (*) next to the number and then attached a separate piece of paper to the form to explain the asterisk.

In the Social Security example, we might put $0.00* for benefits not yet being received, and then on the extra page, explain the expected amount and start date, if known. The form is NOT perfect, and a judge might appreciate your explanation if it matters in making a decision or to ensure you are not misleading on this form. You can use this “asterisk/extra page” trick for other numbers throughout the form as well.

Self-employment, commissioned employees, and other types of income can make it very hard to estimate your income. You might want to consult an attorney, or at least an accountant, when estimating variable income.

Finally, sometimes, you don’t know the numbers for your spouse or the other parent. We have entered numbers before with an “(est.)” next to them to show the court that we don’t know the exact number and are “estimating,” but we use this approach very sparingly. If you do not know a number, do not present a guess as a fact. Make clear that it is unknown or an estimate, and explain the basis for any estimate. Again, it all depends on your particular situation.

Payroll Deductions from Monthly Income (Page 1)

Like Gross Income, people paid the same every paycheck can usually multiply up to a year and then divide by 12, as described above. We recommend using your most recent pay stub with full hours and pulling the numbers from there.

While this section asks for payroll deductions, it may not neatly account for people who do not have taxes withheld from their pay. For example, many self-employed people and 1099 contractors take at least some of their income as a draw and have to set money aside for taxes. We told you the form isn’t perfect. Do not list money set aside for estimated taxes as an actual payroll deduction.

If you need to explain expected tax payments so the court understands your available income, clearly identify them as estimates in an attachment rather than silently subtracting them as withholding. Be very careful with your estimates. Consider talking to an accountant, tax preparer, lawyer, or another appropriate professional. That way, if you are wrong, it may help show you weren’t purposefully under- or overstating your income.

Monthly Expenses (Page 2)

Like income, this part of the financial declaration is a monthly snapshot of your finances. Many of these items are easy. For example, “Residential Rent Payment” is the same every month for most people. Use the actual number. Many people’s mortgage payments, cell phone bills, child support payments from a previous relationship, auto payments, and certain other expenses fall in this “same every month” category.

Other categories are variable, or at least difficult to figure out. “Food and Household Supplies” is a great example here. We can’t tell you exactly what we spend on food every month, and you probably can’t either. This is a section where you might have no choice but to give your best estimate. But you can make an educated estimate. Pull out your bank and credit card statements.

Look at what you’ve spent over, say, the past three months, total it out, and then divide by three. At least then you have a basis for your answer and can explain how you arrived at it. If you usually use cash instead of swiping a debit or credit card, this approach may not be as effective. Use your common sense and give an answer you can reasonably explain to a family court judge if you ever have to.

The “Auto Insurance, taxes, gasoline, and maintenance” line can be difficult. First, break it into components, each with its own estimates or calculations. For Auto Insurance, use the amount you actually pay, converted to a monthly average if necessary. For taxes, you might take your last year’s tax bill and then divide it by 12 months.

For gasoline, try our educated estimate approach and look at bank and credit card statements for the past 3, 6, or 12 months, whichever gives the most accurate estimate of that expense moving forward, and then divide to get a monthly average. Maintenance is probably the hardest because it’s not something we plan for, so do your best to estimate your average “per month” for maintenance. Then add these four components together.

We strongly recommend taking notes on separate paper when you fill out your financial declaration, and the Auto line is a great example. This way, if you have to explain yourself on the witness stand later, you can look back to see how you came up with the numbers that you did. Otherwise, a judge may think you just made them up.

“Real Property Tax” is another category we often don’t list separately because, for many people, the taxes are escrowed into the mortgage payment. We will often write “escrowed” on this line if that’s the case, so the same expense is not counted twice. If your mortgage payment doesn’t include taxes, list an appropriate monthly average.

You can derive the “All Installment payments” line from the next section, which we will explain shortly.

Also, check the FOOTNOTES on the last page of the financial declaration, and review them for EVERY line item with a footnote next to it. These footnotes can be very helpful in figuring out where to include various items. The “Adult Incidental Expenses” line is a good example of where reading the footnotes is absolutely necessary. Otherwise, you probably wouldn’t know what this item means.

When you think you are finished, we recommend you go back and look at your last few bank and credit card statements, reflect on what you spend, and then determine whether you’ve missed any expenses. Often, you will find a line item where these expenses belong. If not, consider putting them in the “Other” line item. If there are multiple, you might even add a total here using the “asterisk trick,” with an attached sheet of paper as we described above.

If you are the custodial parent, monthly expenses should include applicable expenses for the child or children as well as for yourself. Indicate at the top of the page which children’s expenses are included, as the form requests, and avoid counting the same expense twice.

And we’re going to remind you one last time: this is a MONTHLY average of your expenses.

Installment Loan Payments Section (Page 2)

This section is for debts you pay in monthly installments. Do not count the same payment twice: if you have already included a mortgage or auto payment in the expenses above, do not add it again to the installment-payment total. For many people, this section includes credit cards and student loans, but it can include other debts, so consider whether you have other debts paid in monthly installments.

For each debt, fill out all the columns that apply. The Creditor is the name of the person or company you owe, such as your credit card company. The For column describes what the debt is for, such as clothes, student loans, or vacations; in some cases, you may want to use a more general description, such as “household expenses” or “miscellaneous.” Use extra sheets if necessary, but if you do this, write “See Attached” in this section to indicate you have continued the list on another page.

For the “Monthly Payment,” report the payment you actually make or are required to make, as appropriate to your circumstances, and explain any difference between the required minimum and what you regularly pay if that difference matters to your monthly expenses. Do not inflate the payment to overstate your expenses.

After you’ve completed this section, add up the applicable monthly payments and enter the total into the “All Installment payments” line in the Monthly Expenses section above, without double-counting payments listed separately.

Other Debts and Obligations not payable in monthly installments (Page 3)

We don’t see this section used as much because most debts require payments. However, review who you owe money to and see whether anything belongs here. Probably the most common debt we see here is money borrowed from a parent, family member, or friend to pay an attorney. Identify the obligation accurately, including whether repayment is required, rather than listing a gift as a debt.

Bankruptcy and Arrears Checkboxes (Page 3)

This section is easy. If you’re not in bankruptcy, check the “no” box. If none of your debts are past due, check the “no” box for arrears. If you are a month behind on your car payment, however, check “yes” for arrears and provide the requested details about the overdue obligation.

All Marital Property Known to Parties (Page 3)

The categories here of “Husband/Father,” “Wife/Mother,” and “Joint” ask for whose name the property is titled in. Don’t assume that listing a bank account titled in your spouse’s name under your spouse’s column means you are giving that property to your spouse outright. If it is marital property, the family court can still divide it between you. Click here for a general description of how marital property is divided in South Carolina.

For some categories, you should be able to put an exact number from pulling an account statement. These categories include “Cash and Money in Checking Account(s),” “Money in Savings Account(s), Credit Union, Money Market, or Cert. of Dep.,” and “Value of Voluntary Retirement Account(s).”

For others, you may have to estimate. For example, for real estate or a business, if you had a recent appraisal or valuation, you can probably use those numbers. If not, make an educated estimate, which could require research. If you have a close friend or family member who is a realtor, they may be able to give you a better estimate of your home’s value. Also, remember that the “Real Estate” section asks for value net of mortgage balances, so if your home is worth $250,000 but you still owe $230,000, then the “net” number is $20,000.

We often see people leave “Value of All Other Property” blank. Do not do this if you have property that belongs in that category. Even small marital estates may include furniture, clothes, and other valuable items. Do your best to value them in this category, but use current values, not what you paid. For example, a TV you paid $500 for a few years ago might only be worth $100 or less now.

List vehicles in the appropriate category on the form and report their values net of any loan balances where the form requests net values. So, if you have a car worth $5,000 but still owe $5,000, the net amount could be zero. Don’t forget valuable art, gun collections, jewelry, expensive equipment or electronics, or tools and landscaping equipment when estimating the total value. Some of these items have real value on their own. Consider doing a walk-through of your house, or at least a mental walk-through if you aren’t residing in the marital home right now.

Any Non-Marital Property Known to Parties (Page 3)

Sometimes, it isn’t clear whether an asset is marital or non-marital. We explain the differences here. Still, it is often best to consult with an attorney if you are unsure. Most of the columns in this section are self-explanatory. Don’t skip any that apply, because each has an important place in the analysis of non-marital property. If you received something by gift or inheritance, identify that source and provide the other information requested by the form; a gift or inheritance may require further explanation if ownership or classification is disputed.

The $300,000 Threshold (Page 3)

Check the instructions on the current financial declaration before deciding whether you need to provide additional property information. Do not stop completing the form merely because you believe your total assets are below $300,000; complete every section that applies to you. If you are unsure which property schedules or attachments you must provide, ask your attorney or the court clerk about the current form’s requirements.

Signature (Page 4)

After you have completed a final version of the financial declaration, make sure it is legible without a bunch of cross-outs or corrections. If you need to, print another one and copy all of your numbers over. You don’t want to look sloppy in front of a family court judge.

Then, find a notary public. Sign the document in front of the notary public on the line labeled “Signature.” Then have the notary complete the oath or jurat section. A notary will know how to complete this section if you don’t.

Why Do the Totals on the Financial Declaration Matter?

The form requests totals for several sections. Add the line items, enter each total where requested, and triple-check your math. You don’t want a mistake to be interpreted as dishonesty.

Do I Have to Fill Out Both Sides/Columns of the Financial Declaration?

Complete the information the form requests about yourself and any information you know about the other party. Do not present an unverified number for the other party as a fact. If you provide an estimate, mark it as an estimate and explain how you arrived at it; if you do not know a number, say so rather than guessing. Your attorney can help you decide how to address information you cannot verify.

What Happens if I Make a Mistake on My Financial Declaration?

Mistakes can affect your credibility and the court’s decisions, but an inadvertent error is not automatically perjury. If you discover a mistake, tell your lawyer promptly, correct the information, and provide an updated financial declaration when appropriate. Fill out the financial declaration as completely and accurately as possible.

The financial declaration is one of several documents in a divorce case. Our article on how to file for divorce in South Carolina explains the others and how to serve them.

Do You Need a Lawyer to Help With Your Financial Declaration?

Family Court and its rules and procedures can be complicated. If you anticipate a divorce or custody case, or you’re already in one, contact the divorce attorneys at Futeral & Nelson and schedule a consultation.

If you’re facing a divorce or family law issue in Charleston, SC, our Charleston divorce lawyers at Futeral & Nelson, LLC are here to help. Contact us today to schedule a consultation.