Mitch Tacy Family Law

Sworn Financial Statement

What is a Sworn Financial Statement (SFS)?

The Sworn Financial Statement details your monthly income, monthly expenses, assets and debts. A notarized original copy of your complete SFS is REQUIRED and must be filed with the Courts and a copy must be provided to the other party in your case. The SFS is one of the most important Court documents in any domestic relations case and should be taken very seriously. You are swearing that the information you provided is accurate, true and complete.

SFS Forms

The Colorado Court form name for Sworn Financial Statements is JDF1111. The following link is a self calculating Word document that you can edit: JDF 1111 Sworn Financial Statement.

A second form JDF1111SS (Supporting Schedule) is only needed in a divorce if you have separate premarital property, retirement assets or any assets that are not identified on the JDF1111. The JDF 1111SS Supporting Schedules for Assets is where you will list any stocks, bonds, mutual funds, securities and investment accounts. Your company sponsored benefits plans and 401K accounts are identified on the JDF1111SS. If none of the above applies to you will not need this form.

Why do you need a Sworn Financial Statement?

The Court needs the information on your SFS to determine if your domestic relations case position or settlement agreement is fair (not unconscionable) to both parties. SFS forms are reviewed by the Court at the same time the Judge or Magistrate is reviewing your final Separation Agreeemnet and Child Support obligations based on your Parenting Plan.

You will need to fill out an SFS if you are seeking a:

Without a COMPLETE and accurate Sworn Financial Statement it’s impossible to conduct a meaningful mediation or to respond to/propose a settlement to/from an opposing party. Full disclosure is of the utmost importance. If you are planning on hiding assets or income, Mitch Tacy will not conduct your mediation or represent you in your divorce action. If you think your spouse is hiding assets or income then you need to notify the mediator and/or your attorney. If you do not have an attorney you should strongly consider hiring one now to help discover the omissions and deceptive reporting.

The SFS is for your protection; it ensures that you have not hidden any income, assets or debts. If one party is shown to intentionally lie on a Sworn Financial Statement or there has not been complete disclosure, your agreement or portions of it can be declared invalid.

The SFS can be difficult to complete. If you are just beginning the mediation process, your SFS’s do not need to be finished or notarized before you meet with Mitch. We will notarize your final SFS when all of your documents are complete. Most people need help and clarification on their SFS. In a traditional litigated divorce the SFS’s may change many times as they have to stay up to date. As you prepare your SFS, save a new copy with the current date each time so you can keep track of changes. If you need help with your SFS, our paralegal can meet with you or fill in the SFS document for your ($75 per hour) but you must provide the information.

Tips for filling out your Sworn Financial Statement

  • My income/expenses don’t fit in the fields provided in the SFS document. What do I do?

    Complete the information on a separate sheet and write “see attachment (a or 1, etc…)”. Some people look at their annual taxes and divide by 12 for a monthly income. This works well with seasonal employees. Mitch will go over the information you provide and determine if your SFS needs to be adjusted in any areas but first he needs the information.

  • Allow plenty of time to fill out your SFS and check it numerous times. You should begin by collecting all the relevant documents (bank statements, loans, assets, etc.) listed in the Mandatory Disclosures list (see below). You will need your most recent statements to refer to account balances, payments and minimum payments due.
  • Base your Sworn Financial Statement on your current situation. You may have to update and revise your SFS throughout your legal process. Things can change — your job, where you live, amount of debt. When you add a debt or pay off a loan (a mortgage for example) you will need to provide an updated version of your SFS, signed and notarized.
  • Your SFS is what you are currently paying broken down to a monthly average. It needs to be true and accurate. If you are not paying for the insurance now is should not be on your SFS. Your SFS represents everything you bring in financially and everything you pay monthly. In no instance should you be guessing or estimating unless it is actually happening. For example if you have a annual expense and you pay it quarterly you need to get to a monthly total (example: quarterly amount times 3 divided by 12 for a monthly total).
  • Don’t make any wild guesses. You have approximately 40 days to supply your spouse or their attorney with your Sworn Financial Statement. Use that time to get a true and accurate statement of all financial documents you will be reporting on your SFS. If you make a simple mistake you could lose credibility by appearing to be dishonest.
  • What documentation do I need for real estate?
    Mitch will look at your individual SFS for values regarding all disclosures. You can use Zillow for the purpose of estimating home value for your SFS, but in mediation you may determine you need a market analysis or real estate appraisal. If you bought the house prior to your marriage then the value you purchased the house will be of importance in determining appreciation.

  • Make sure that you do not count expenses twice. If you have a car loan that will be list under your Vehicles, do not list it again under debts.
  • List the current value of your vehicles using Kelly Blue Book ( The value of your vehicles is important when dividing assets, as is the amount owed on any vehicle loans.
  • Use averages for recurring monthly expenses. For example do not refer to the current month for gas or utility costs. Go back 6 months or a year and average the amounts to determine your monthly expense.
  • Make sure that your gross income is calculated correctly. If you are paid every two weeks, it would be a mistake to double that and call it your gross income. If you are paid hourly take the hourly pay times 40 times 52 weeks, then divide by 12.
  • If you receive money from a friend or relative on a regular basis be sure to list it under 1. Monthly Income on the line Miscellaneous Income.
  • If you have been giving your Spouse and minor child(ren), monthly support, be sure and list it under H. Maintenance. If you give monthly support to parents, child of a previous relationship, former spouse, or anyone else, list that under I. Miscellaneous.
  • Medical Expenses. The amount that is deducted from your paycheck for health insurance, or if you have an individual plan would be listed under 2. Monthly Deductions. Your out of pocket medical expenses are listed under D. Health Care Costs. This area is for an average of your ongoing monthly health care expenses. If you are paying off a hospital bill or medical provider bill that will be listed under 4. Debts.
  • How much detail is required in regard to furniture and household items? Very little. You can say household goods and electronics $2,000. Think of what your belongings would be worth if you had to sell them at a garage sale.
  • We pay our mortgage on a bi-weekly 26 payment schedule – not monthly. How do we enter that? Bi-weekly payment is 1,000 divide by 2 multiply by 52 and divide by 12. This gives you the true monthly cost. Same with anyone who is paid bi-weekly we use the same formula.
  • What do I do if I need help filling out my SFS? Our paralegal can meet with you and help you with your SFS ($75 per hour) but you have to supply the documentation in order for us to help.
  • Does Mitch want electronic or paper documentation?
    If you are in mediation, you will be exchanging your mediatory disclosures with each other. You do not need to provide disclosures to Mitch. In a litigated situation, we can accept your disclosures electronically or on paper.

Mandatory Disclosures

The Mandatory 16.2 disclosures are the documents both parties are required to share with each other. The first item on the list of 16.2 mandatory disclosures is the Sworn Financial Statement. It is your responsibility to make sure you received the disclosures from each other to make sure the information on each others SFS is correct. You will want to make sure all the balances are current and all bank accounts and debts listed. Everything must be disclosed to each other. Your mediator and the Court will only be looking at your SFS. You will each be signing a Certificate of Compliance checking off all the disclosures you received from each that will satisfy the Court that mandatory disclosures have been exchanged.

You are required to provide your spouse or co-parent or their attorney with the following mandatory disclosures. You (or your attorney) will be signing a Certificate of Compliance that will be filed with the Court indicating to the Court that you have provided all the necessary mandatory disclosures.
16.2 Disclosure Checklist of all forms required

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