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Nikita Ali, a divorce and family law attorney from Georgia, discusses three common mistakes people make on a Domestic Relations Financial Affidavit (DERFA). A DERFA is an essential financial statement required in most family law and divorce cases, providing a snapshot of one's monthly income, expenses, assets, and liabilities. The first mistake is failing to complete the DERFA, which is crucial for accurately representing financial status. The second mistake is incorrectly calculating monthly income; for example, if paid weekly, one should multiply the weekly amount by 52 to determine the annual income accurately. Ali emphasizes the importance of these details in the affidavit process.
