Florida Long Form Financial Affidavit 12.902(c): Asset & Liability Disclosure
Florida Family Law Financial Affidavit (Long Form), Form 12.902(c), must be filed by any party whose gross annual income is $50,000 or greater pursuant to Fla. Fam. L. R. P. 12.285(d)(2). The Long Form requires extensive itemization of all executive compensation, complex financial assets, and business interests.
Gross Income Schedules: Executive & Pass-Through Income
Parties filing Form 12.902(c) frequently receive non-traditional compensation that requires careful statutory disclosure:
- Restricted Stock Units (RSUs) & Stock Options: Must be reported if vested during the measurement period. Unvested options must be disclosed in the contingent asset schedule.
- Pass-Through Entity Distributions (S-Corps, LLCs, Partnerships): Pursuant to Florida case law (Zold v. Zold, 912 So. 2d 632), pass-through earnings reported on Schedule K-1 are considered income unless retained by the business for legitimate, documented operating capital.
- In-Kind Executive Perks: Personal use of company vehicles, cellular plans, club memberships, and travel per diems must be quantified and added to gross income under Fla. Stat. § 61.30(2)(a)(13).
Detailed Section III Expenses Breakdown
Unlike the Short Form, the Long Form contains over 100 discrete expense line items, requiring exact accounting rather than rounded estimates. Litigants must document:
- Individualized insurance allocations (health, dental, vision, umbrella liability, life).
- Recreational, entertainment, vacation, and club membership allocations reflecting the marital standard of living.
- Detailed professional services (accounting fees, legal retainer amortization, tax prep).
Section IV: Balance Sheet Schedules (Marital vs. Non-Marital)
The asset inventory must delineate every piece of real property, business interest, brokerage account, digital asset / cryptocurrency wallet, and retirement plan:
- Marital vs. Non-Marital Designation: Property owned prior to the marriage or acquired via non-interspousal gift or inheritance is designated non-marital under Fla. Stat. § 61.075, provided it has not been commingled with marital funds.
- Contingent Assets & Liabilities: Pending lawsuits, potential tax refunds, severance agreements, personal loan guarantees, and co-signed debts must be explicitly declared.