Frequently Asked Questions About the Net Worth Statement for Divorce
MY Statement of Net Worth was created to assist Individuals and their Legal Advisors and reduce one of the most stressful tasks of the entire divorce process.
We focus on simplifying the Financial Affidavit in order to seamlessly fill out, change, optimize, share and secure this critical document.
Who was MY Statement of Net Worth created for?
MY SNW was initially created to assist the Individual fill out a detailed and complicated form during one of the most stressful times of his/ her life, the beginning of the divorce process.
We continued to develop a portal designed for Lawyers, Mediators and Divorce Financial Analysts.
How is MY Statement of Net Worth designed for law firms?
MY SNW is designed to meet the needs of lawyers to easily and securely communicate with their clients. It enables them to create custom reports and make notes to help them assist their clients in gaining a much greater understanding of their current financial standing than through the old and tired legal financial affidavits currently in use.
Is MY Statement of Net Worth designed for mediators?
MY SNW is specially optimized to meet the needs of m to mediators to be able to view the various information from both individuals in 1 location, and in a side by side comparison. This saves time and minimizes confusion by being more organized and helps to focus on the areas of the financial situation that are not in agreement.
In addition, automatic calculations of the fields minimizes mathematical errors that cause discussions on some points to have to be renegotiated and discussed again based on correcting decisions made based on incorrect data.
Is MY Statement of Net Worth software secure?
Our firm has a very strong focus on security and protecting our clients data. Our servers are hosted in Amazon Web Services, (AWS), and data is encrypted through various methods.
When will a lawyer want my Net Worth Statement?
Once you speak with an Attorney in an intial consultation call or meeting, they will discuss some basic information about yourself and your legal situation. They will provide some kind of “New Client Intake Form” for you either before or after you decide to start working with them. This might be the actual legal state Net Worth Statement / Financial Affidavit in one of the various file formats, or a custom form they have created and give to new clients.
Starting to fill this form out will be what often comes before the next meeting. As the saying goes, “Marriage is about love and Divorce is about money”. The form might not have to be completed, but there needs to be information that can be used to discuss things further.
What is the best file format for the Net Worth Statement for New York State
This is a very common question that we hear from spouses starting a divorce process from New York State. The truth is that the Micrsoft Word version, called the NetWorthStatementFormGenderNeutral.doc has some advantes in terms f beg able to easily add rows and other items in Monthly Expeses, Assets and Liabilities sections. However, it is more difficult to use in terms of doing all calculations manually for all sections, including section 2 for Monthly Expenses.
You can download it here straight from the nycourts.gov website Statement of Net Worth form NY
What happens if I do not file the New Jersey CIS?
Failing to file your CIS can result in serious consequences, such as the dismissal of your Complaint, the inability to present financial evidence in court, and the court relying solely on the other party’s information when making decisions. Only bad things can happen due to your lack of a proper documented position for your case. You may also face penalties, including fines or sanctions, and the court could prohibit you from introducing key financial details at trial, which may lead to an unfair outcome.
