Financial Affidavits in a New York Divorce

One of the many trying aspects of getting a divorce involves revelation of all the finances of both spouses. A financial affidavit is a formal document that lists what you owe, what you earn at your job and from other sources and what your expenses are. It provides a complete financial picture for your attorney to work with in negotiating your divorce. Your financial affidavit is a document that you swear to, and it carries a penalty of perjury should you fraudulently fill out the form.

In New York, the financial affidavit is called a Statement of Net Worth. The form is lengthy and can seem quite intimidating. It is important that you list all the details asked for in the form. While big expenses such as any loans, mortgages, car payments or child care are obvious, there are many other daily expenses to include in the pages.

For example, costs of laundry, household help, cigarettes, and cosmetics all have a place for listing on the form. You can use your credit card statements and check registry to find all expenses. Monthly bills and other recurring expenses are also important to the financial picture. Other expenses that do not occur each month also can affect the outcome of amounts awarded for temporary and long term maintenance as well as child support and division of property.

An experienced divorce attorney can advise you on all aspects of divorce in New York State.

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