Understanding the Net Worth Statement: A Vital Tool for Divorce Proceedings in New York
What Is a Net Worth Statement? A net worth statement provides a detailed breakdown of your financial situation. It outlines your assets (what you own) and liabilities (what you owe) to determine your net worth, a crucial consideration in New York divorce proceedings. Why Is a Net Worth Statement Important? A net worth statement is mandatory in New York divorces for the court to understand the financial circumstances of both spouses....