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Divorce Q&A: What is a Statement of Net Worth?

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During divorce proceedings, the Statement of Net Worth outlines each party’s income, assets, expenses and outstanding debts.  Failure to disclose assets at this stage can have serious consequences.

Divorce Q&A: What is a Statement of Net Worth? Infographic
Title DIVORCE QA WHAT IS A STATEMENT OF NET WORTH<br >The Statement of Net Worth is part of the compulsory financial disclosure required of each party in matrimonial actions<br > In all NYS matrimonial actions and proceedings in which maintenance alimony or support is an issue each party must provide a sworn document<br > It lists all of the partys income assets expenses and liabilities and all assets transferred during the preceding three years or during the length of the marriage whichever is shorter<br > Copies of a current paystub most recent filed state and federal tax returns and all W 2s must accompany the Statement of Net Worth<br > Because it is a sworn document ie made under oath it must be true accurate and as complete as possible<br >YOUR DIVORCE ATTORNEY CAN ADVISE HOW TO COMPLETE THE FORM

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