Formally, Formerly

“Formerly a prodigy. Formerly full of potential. Currently full of shit.” –John Green, novelist (An Abundance of Katherines)
Formal is an adjective. Formally means conventionally, with ceremony; accepting rules of behaviours, following customs and conventions in social interactions; showing carefulness, demonstrating acceptance to expected rules; serious; not close in relationships.

How many formal dresses do you have?
Request is a formal word for ‘to ask’.
Formal indicates to shapes: regular or geometric or symmetrical.
The formal gardens in the Persian and European design are rectilinear and axial.
Formal refers to something that is only in its outward shape and appearance.
There is no formal resemblance between Indian and Chinese political systems.
Formal refers to something that is policy declare, something announced officially.

The politicians formally decide to quit by tendering resignation to their party or the government and inform the press: the resignation becomes formal.

To become the executive head of a state such as the President, Prime Minister, Chancellor there is need for formal training but copious common sense.

Formally is an adverb.
He behaves formally all the time, was his wife’s complaint!
Formally, the Prime Minister gives his resignation to the President of India.
India and Pakistan have had agreed formally to cease hostilities but it is not reflecting on the borders.
Formally, the celebrity appeared at the function with her parent and beau in tow.
Formalism (noun) is an adherence to ceremonies, functions, etiquettes without concern for feelings and meanings.
Life was wonderful and peaceful in former times when there was no Internet?
Former is an adjective. Former refers to an earlier time, earlier period, previously.
He is the former world champion in boxing…

When a politician quits from the public office, he or she gets referred to as former: former Prime Minister, former MP, former MLA (and also as ex: ex-CEO).

Another distinct meaning of former is: when two things are mentioned, former means to the first one. She has two choices: to run for the marathon or be formal present at the venue but she chose the former (to run for the marathon).

A shadow of one’s former self or a shadow of its former self refers to it, his or her earlier form, avatar: He is no more the shadow of his former self due to age and illness.

When you have to choose between money and peace, will choose the former (money) or the latter (peace)?
Formerly is an adverb. Formerly means in earlier times, previously.

Formerly, India was part of the British Empire!