Ontario Family Court Form 13 or Form 13.1 – Financial Statement
If you are the one seeking the divorce, fill your details in the field reserved for Applicant. Then fill in your lawyer’s details in the opposite field.
If you are responding to a case filed by your spouse, fill your details in the field reserved for Respondent. Also fill in your lawyer’s details in the opposing field.
A space is reserved at the top of the form for the name of the court, address and court file number.
Completing these forms will require careful consideration of your circumstances and the legal issues involved.
Form 13 or Form 13.1 aka Net Family Property Statement
The Financial Statement and financial disclosure completed by both spouses in divorce proceedings.
Why do I need to know this?
You will both be expected to complete these if you are asking the court to make a financial order. It is important that you take your time and fill it in as accurately as possible. The more detailed you can be, the more accurate the picture the court and your spouse will get of your financial needs in divorce.
Net Family Property Statement
Financial Statement and financial disclosure form: The 2nd Massive Domino
If you have decided to proceed with your divorce, you may be expected to file a Financial Statement and financial disclosure form. Depending on what you are claiming in the divorce, this may be either Form 13 or Form 13.1. These forms can be pickup you Family Law Information Centres (FLIC Office) found at your local courthouse or can be downloaded for the Ontario Court Forms website.
If your family law case involves a claim for child support, spousal support or property division, you must complete, file and serve these forms. By making a financial statement and financial disclosure, you will be providing details as to:
- How much you make – your income
- How much you spend – your expenses
- How much you own – your assets and valuables
- How much you owe – your debts
In order to ensure that the divorce process turns out the way you want, it will be necessary to take your time and fill these forms in as accurately as possible. The more detailed and correct you are, the better the court and your spouse can appreciate your financial needs in a divorce.
In this guide, you’ll be able to better appreciate when you need either of these forms, the content of the forms and what you must do to fill them correctly.
Forms 13 and 13.1: Financial Statement and financial disclosure
A financial statement will be required in your divorce case if you have child support, spousal support or any claims relating to property or debts.
If your case involves only child support or spousal support claims, but no property claims, you must complete Form 13. If your case involves any claim as to division of assets, ownership of debts or any other claim relating to property, do not use this form.
For property issues and claims regarding assets or debts, Form 13.1 is the appropriate form to fill. Even if your case involves child support or spousal support claims, you must file this form instead if you also have property claims.
Pay attention to these instances when you need either form, even if you are responding to a claim for child or spousal support or property issues. In some cases, you do not have to file either of these forms, including if:
- Your case involves only child support claims and you want the other spouse to only pay the table amount of child support under the Child Support Guidelines.
- You and your spouse are filing a motion to change child support or spousal support on consent, and you both agree to dispense with financial statements.
- Your claims are strictly limited to family arbitration.
If you have determined which of the forms applies to you, your next step should be to complete the form. However, you should first read through this guide before you begin.
This may interest you
Link to immediate download of
This may interest you
Link to immediate download of
Sample Form-13.1 Financial Statement with How-to Instructions
Disclosing income and expenses
Family Law in Ontario requires you to provide details about your income and expenses.
This information is required in Parts 1 & 2 of Form 13.
As for Form 13.1, in addition to your income and expenses, you will be required to disclose any non-cash benefits you enjoy and any automatic deductions from your income. This will be required in Parts 1, 2, 3, 4 & 5.
When filling out your income details, pay attention to the following:
- Set out your income in relation to a specific period.
- If you are self-employed, it may be more appropriate to use last year’s income with explanation.
- If you are a wage-earner, it is okay to use present or future income. For instance, how much you expect to earn at the end of the month.
- Include every source of income available to you, whether taxable or non-taxable. If necessary, complete Schedule A to Form 13 titled: Additional Income Sources.
- Non-cash benefits may include a company car, health or life insurance, disability benefits, sports or gym/club memberships.
- You must complete the section for “Other Income Earners in the Home” if you are making or responding to a claim for spousal support or “Undue Hardship”. You can find this under Schedule B of Form 13 or Part 6 of Form 13.1.
When filling out your expenses, take note of the following:
- Also set out your expenses in relation to a specific period. It may be to use the last 12 months of cohabitation.
- You can have different expense schedules, one for when the family was whole and one for after separation. Use the proposed budget of Form 13.1 (directly beneath Part 12).
- Multiply the weekly cost of an expense by:
- 4.3 in order to get the monthly amount
- 12 to get the yearly amount
- Divide the annual cost by 12 to get the monthly cost.
- Include any expenses that your spouse still pays along with an explanation.
- Do not exaggerate your expenses.
- Retain all your receipts as these may be necessary for questioning or proof.
Disclosing property and debts
The information relating to property and debts must be filled in Parts 7 (7a-b), 8, 9, 10, 11 & 12 of Form 13.1. Under Form 13, this information must be filled in Parts 3, 4 & 5. When filling out your information as to property and debts, it is important to take note of the following:
- List all property and debts owed on the date of marriage. Ensure that you compile all the evidence and documents you have supporting these.
- As for financial disclosure of excluded property, take note that the following are excluded:
- Inheritances and gifts acquired from third parties after the date of marriage.
- Insurance proceeds and damages for personal injuries.
- For disposal of property, make sure to disclose all property by category that was disposed of within the 2 years before making the financial statement or during the marriage (whichever is shorter).
When filling out your property, make sure to note the following:
- Note the value of property at:
- The date of your marriage
- The date of separation; and
- The date on which you made the financial statement
- List only property owned, as opposed to those “used” or “possessed” on the applicable dates.
- Where the property was jointly owned, show 50% interest and value using “joint @50%”.
- Indicate whether the ownership of jointly-owned assets was intended to be severed.
- Use market value, rather than the purchase price of the assets or their replacement value.
For calculation of debts and other liabilities, note the following:
- List only debts that were owed as at:
- The date of marriage
- The date of separation; and
- The date on which you made the financial statement.
- For jointly held debts, list one half of the value of the debts as “joint @50%”
- Include future debts such as deferred personal taxes capital gains tax etc.
- Include debts to parents, friends and relatives
Calculating child budget
There are instances where you may need to create a child expense budget. This will be necessary where:
- The child is over 18 years of age
- The situation is one of “shared custody” under section 9 of the Child Support Guidelines
- The claims relate to special or extraordinary expenses.
What must accompany each form
Attach the following documents to your form:
- Proof of current income (such as your most recent pay stub)
- Copies of your personal income tax returns over the prior 3 years.
- Copies of your Notice of Assessment or Reassessment issued by the Canada Revenue Agency.
Certificate of financial disclosure
You must certify which financial documents you have served on your spouse by completing Form 13A: Certificate of financial disclosure. Ensure you serve this form on your spouse along with your other financial documents.
This may interest you
Link to immediate download of
Sample Form-13.1 Financial Statement with How-to Instructions
Conclusion
Completing these forms will require careful consideration of your circumstances and the legal issues involved. To ensure that they are accurate and free of error, you may require professional help.
Divorce the Smartway can help ensure that these forms are compliant and take your interests into consideration. Call us toll free on 1.855.731.3500 to start a conversation today.
Divorce law in Ontario favours equalization above all else. While that gets everything off to a good start, your ability to secure a neat divorce depends on your ability to work things out in the various agreements you must sign before, during, and after your marriage ends.
Are you having trouble reaching an agreement on your finances? Do you want to avoid going before the judge and asking for help? Consider working with a family mediator who can help you end your marriage in a way that is peaceful, cost-effective, and child-focused.
Would you like to learn more? Get in touch for a Get Acquainted Call to learn more about finding a separation agreement with a soft landing.
If you feel I am not a good fit for you or my location is not convenient (and Virtual or Remote Location Financial Support is not an option.)
Find Divorce Financial Professionals here The Institute for Divorce Financial Analysts
Articles that may interest You!
Divorce Checklist & Guide
Get Peace Of Mind In this Download
When you make the decision to separate and get divorced, comforting and supportive words from friends and family can only help you so far. Eventually, you are going to need facts and truths from an expert about what’s likely to happen and what you need to do during your separation and divorce. They say ‘it’s the not knowing that kills you’. So make sure you’re in-the-know by reading this DTSW Soft Landing Solution Guide.
I’m an Divorce Mediator and Certified Divorce Financial Analyst (CDFA).
It’s been a few years since I got divorced, and since then, I like to think I’ve helped many spouses through the turmoil of separation, without them having to endure lengthy and expensive legal proceedings.
I now specialize in providing comprehensive divorce mediation services leading to separation agreements. I know, first-hand, how stressful separating and divorcing is, which is why I’ve written this guide to hopefully give you clarity and a way forward through what lies ahead.
Ready to create a Soft Landing for your divorce?
Discover the Soft Landing Divorce Settlement Method – a comprehensive approach to separation and divorce that ensures a fair and equitable division of assets and liabilities.
This method involves a detailed financial walkthrough, including identification and valuation of assets, income assessment, expense analysis, financial projections, and settlement scenarios.
With the Soft Landing Method, you gain a clear understanding of your financial situation, empowering you to negotiate a settlement that meets your needs. Don’t navigate this complex process alone – work with a Certified Divorce Financial Analyst (CDFA) who specializes in separation and divorce cases.
Have a Question or two about a Soft Landing?
Ken Maynard CDFA, Acc.FM
I assist intelligent and successful couples in crafting rapid, custom separation agreements that pave the way for a smooth transition towards a secure future. This efficient process is achieved in about four meetings, effectively sidestepping the excessive conflicts, confusion, and costs commonly linked to legal proceedings. Clients have the flexibility to collaborate with me either via video conference or in-person through a DTSW associate at any of our six Greater Toronto mediation centers, located in Aurora, Barrie, North York, Vaughan, Mississauga, and Scarborough.
Have a few questions - Tap here to Schedule a Get Acquainted Call
-
Ken Maynard CDFA, Acc.FMhttps://divorcethesmartway.ca/author/wardman/May 23, 2023
-
Ken Maynard CDFA, Acc.FMhttps://divorcethesmartway.ca/author/wardman/June 2, 2022
-
Ken Maynard CDFA, Acc.FMhttps://divorcethesmartway.ca/author/wardman/May 20, 2022