What Is a Statement of Net Worth in NY?
A Statement of Net Worth is a financial affidavit that lists your assets, liabilities, income, and expenses. In New York, it is commonly required in divorce, custody, and support proceedings to provide a clear picture of each party’s finances.
Why Is It Required at a Preliminary Conference?
A preliminary conference in New York is an early court hearing where the judge sets timelines and exchange requirements. Filing a Statement of Net Worth at this stage helps the court and attorneys understand each side’s financial position and identify issues like support or discovery needs.
How to Prepare and File the Statement
You must complete the court-approved form, attach supporting documents such as tax returns and bank statements, and file it by the date set at the preliminary conference. Review the specific local rules or guidance from the New York State Unified Court System to ensure compliance.
