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How to prepare Form 13 1 Financial Statement

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About Form 13 1 Financial Statement

Form 13 1 Financial Statement is a legal document used in various jurisdictions, typically in family law cases, to disclose an individual's financial information. It provides a comprehensive snapshot of a person's income, expenses, assets, and liabilities. This disclosure is required during divorce proceedings, separation agreements, or child/spousal support determinations. The purpose of Form 13 1 Financial Statement is to ensure transparency and fairness in financial matters related to family law cases. It helps the courts and parties involved in the case understand the financial situation of each party and make informed decisions regarding financial support, property division, or child custody. Both parties involved in the case, usually the petitioner and respondent, are required to complete and file Form 13 1 Financial Statement. It is generally a mandatory requirement in family law proceedings, as it allows for a fair assessment of the financial resources available to each party. It ensures that decisions regarding child support, spousal support, and marital property distribution are based on accurate and complete financial information. The specific requirements and guidelines for Form 13 1 Financial Statement may vary depending on the jurisdiction. It is essential to consult with a lawyer or legal professional familiar with family law in your specific jurisdiction to understand the precise format and specific requirements for completing this document.

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Video instructions and help with filling out and completing Form 13 1 Financial Statement

Instructions and Help about Form 13 1 Financial Statement

Hello everyone this is John from Lenore and guest LLP like we've been sent this video because you're one of our clients. I'm going to be helping you complete the forum 13 financial statement and this is a document that you're going to be completing with your lawyer, if you're struggling through this, it's best to just let us know this is something that we can complete together with you. Usually it takes maybe an hour or two at the very most, so if you're able to do this, it is a big help in the meetings. It can save you some money and some time. Having this already completed what documents you'll need before we get started are your tax return or notice of assessment, or proof of income from the previous year. So, if we're in 2022, we need your 2021 tax return, notice of assessment, or yearly proof of income. Sometimes that can be the last pay statement. The second thing you'll need is proof of your current income. That can be a pay stub, proof of a disability payments, whatever the most recent proof is. Typically, that's going to be your pay stub. We'd ask you to provide us with the last three pay stubs. Your financial statement might look slightly different from the one I have on screen. That's fine. What we're going to be starting with is part one of the form. And that's further down, part one, income. You're going to be first inputting the source of your income. In this case, the client has indicated that they've been employed by global affairs Canada, and they've included the address of where they work. If you're self-employed, you'll want to include the details of the business name and if you're unemployed, you'll want to...