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Tag Archives: new york statement of net worth
Divorce courts use the financial information of each spouse to determine fair spousal and child support levels. The New York Statement of Net Worth is the document used in divorces in that state and it is, frankly, a nightmare. Accuracy and completeness are important, but who makes sure the form is correct?
In theory it’s your client’s burden. Yet in practice when faced with the document, many people just freeze up. Trying to put a price tag on a life is hard, even without the added emotional burden of dissolving a marriage. The attorney needs to stress that New York state spousal support is based on the information on this form so the client is motivated to do everything possible to complete it.
Then the onus shifts to the attorney. The first big step is to put this mass of information into your New York divorce software. We make that job a lot easier with SupportNYlite. Your client enters all the data needed into an electronic form, and then you import that form into EzSupport-NY with a click.
At this point, once again in theory, you look over the form and check it for accuracy. But what are you looking at? It’s hardly practical for you to expect the client to provide verification of every expense or asset listed. You have to take the client’s word for it. And yet an error can end up hurting the client’s settlement.
However you can look over the information and conduct a little internal sanity check. It’s a lot easier to view the NY net worth statement using software so you can flip through the pages, knowing all the calculations are correct, and keep a practiced eye out for red flags. Make case notes that won’t appear on the final printout to draw attention to odd entries on the form so you can ask your client about them. After all, better you catch a mistake than the opposing counsel.
Finally you can generate various support worksheets. If the values don’t seem right–experienced family law attorneys usually get a feel for how support numbers should look–then it’s time to go over the data more carefully before generating the final form.
Easy Soft law practice management software may not be able to make the Statement of Net Worth fun, but it does make it faster to generate and easier for you to review. Find out more about how our software, specialized to the needs of New York divorce attorneys, helps you get your clients the settlements they deserve.
Divorce settlements require a statement of net worth to ensure fair division of property and calculation of child support. TheNew Yorkstatement of net worth is a 14-page, excruciatingly-detailed document that can make even an experienced accountant’s head swim. Filling it out is a chore, and that chore is made even worse every time you make an error.
You can fill out the New York statement of net worth by hand, laboriously entering information into literally hundreds of blank spaces on the form. If you enter the wrong amount, put information on the wrong line, or even write a 3 that looks like an 8 then you have to fix the error. So you messily cross it out and write in the correct information, or you use correction fluid for a cleaner-looking fix. However you do it, the form ends up looking sloppy and could even be challenged in a bitter divorce. Besides, who uses paper forms anymore? Are you going to fill them out by candlelight with a quill pen?
The New York court system offers online divorce forms so that should make it easier to fill out theNew York statement of net worth, right? They have a PDF version, but it’s not a fillable PDF. In fact it’s simply a very poor scan of a paper form you will still have to print out and complete by hand. They offer a Word Perfect version. Really? Word Perfect? That’s nearly as old as the quill pen. Finally they provide an Omni-Form version, but that doesn’t work with web browsers other than Internet Explorer plus the “document” you save is actually an executable file that contains the Omni-Form software. Many email systems won’t accept .exe attachments so you will be unable to send the form to anyone.
Wouldn’t it be great if there was some kind of law practice management software that allowed you to easily fill out the New York statement of net worth, integrate it with other NY family law forms so you don’t have to enter the same information a thousand times, and then save the form in standard digital formats like Word or PDF? Oh wait, there is!
Check out how easy it is to complete the New Yorkstatement of net worth and other NY family law forms with Easy Soft products. If you aren’t practicing in New York you might be interested in our products tailored to PA family law forms and AZ family law forms.
The biggest mistake you can make on the New York statement of net worth is not using Easy Soft products!
”NJ CIS.” Say it fast enough, and it sounds like ”NCIS” of ABC television fame. It strikes us that, either way, there’s a hefty amount of paperwork involved.
NJ “CIS” refers to the NJ “Case Information Statement,” a mandatory form for all family law actions involving support, alimony, or equitable distribution, even if the divorce is uncontested. The CIS must also be updated and resubmitted, as appropriate. It is a document sworn to under penalties of perjury.
CIS NJ is similar to court forms adopted in other states to try to streamline information submitted by both parties and to make it easier for the court to quickly glean key information.
Because CIS NJ is a mandatory form, it is perfect for software automation by the programmers at Easy Soft. With our legal software, you fill in the core information only once, and then let our legal software automatically populate all duplicate fields, calculate details like ages and duration of marriage, and prompt you to complete missing information.
The “Case Information Statement” also requires budget information that reflects the standard of living established during the marriage and any differences that may be reflected in the current lifestyle. When you use Easy Soft’s CIS NJ, you can be assured that all fields are present from the form published by the court. When you complete the Easy Soft NJ CIS budget, it is complete.
Likewise, Easy Soft’s law office software for the “Case Information System” is designed to ask you to list all of the assets and liabilities of the marriage, whether subject to distribution or not. By using our legal software, you quickly see which fields are blank and how much work remains to be done.
In many ways, CIS NJ is like the New York Statement of Net Worth, a form with income information that is also used to calculate child support for NY. And, in every state, submission of mandatory information like personal profile, income, assets, and liabilities is crucial for the divorce settlement. When you use automated legal software to compile important financial information, from New Jersey to Arizona, you improve the quantity and the quality of data that you submit to the court, and that can translate into real dollars and cents for your client.
Downloads of sample NJ CIS and all other Easy Soft legal software are free.
NCIS bobblehead Abby doll, not included.
Easy Soft had a chance to exhibit our EzSupport- NY software on Friday October 22nd, at the New York State Bar seminar in Long Island.
The seminar filled every seat in the house, where family law attorneys gathered to analyze and discuss the changes in New York Domestic Relations law
Effective October 12, 2010, New York residents can file for no-fault divorce. The new legislation resulted in many new forms attorneys now have to prepare for no-fault divorces, such as the new Temporary Spousal Maintenance and other updated divorce forms.
To address the changes in the law and help New York family law firms automate preparation of required paperwork, Easy Soft has updated EzSupport-NY. We learned from talking with attorneys at the seminar that EzSupport-NY is a welcome solution for dealing with the new paperwork and simplifying their divorce practices.
Rick, Vice President, at Easy Soft LLC, had a chance to share his thoughts with visitors at Easy Soft’s exhibitor table. Rick explained, “One common failing is that many firms select a product without adequately analyzing the requirements for their family practice.” He outlined examples where law firms automate part of their work with one software program, part with another and handle other aspects manually, and end up complicating their practice management instead of helping it.
We are pleased to report that the many attorneys and paralegal’s who have seen an EzSupport-NY demonstration or have used the program were impressed with the robust, easy to use interface and are anxiously awaiting the program’s upcoming release of the New York Net Worth Statement and other divorce forms.
Friday, October 22, 2010 – New York State Bar Seminar, Uniondale, NY, Long Island Marriott from 8:30 a.m. – 1 p.m. Legal software developer Easy Soft will exhibit EzSupport NY, a comprehensive program that automates New York divorce paperwork preparation, such as Temporary Spousal Support Worksheet, Statement of Net Worth and more.
New York State Bar Seminar: Matrimonial Law: New Legislation, Counsel Fees, Relocation & Ethics in Uniondale, NY
The seminar is co-sponsored by the Family Law Section. An expert panel will review and analyze the new legislation that
- Allows “no fault” divorce
- Changes the procedure for setting awards of temporary maintenance while a divorce is pending
- Creates a presumption that a less moneyed spouse in a divorce case is entitled to payment of attorneys’ fees
- Makes changes pertaining to issuance of orders of protection
- Changes to the law regarding child support modification. The panel will discuss how the new laws will change your practice. Get details at NYSB
Long Island Marriott
101 James Doolittle Boulevard
Uniondale, NY 11553
With the recent changes in New York Domestic Relations Law, effective October 12, 2010, determining temporary spousal maintenance is no longer a guessing game. Divorce attorneys now need to prepare a five-page worksheet (eight pages with instructions) that determines which spouse would pay maintenance and temporary maintenance amount the court is being asked to award.
New York’s Temporary maintenance formula itself is not too complicated and is based on a party’s net income (limited to $500,000/year). However, attorneys must exercise care in calculating net income (gross income less deductions). You will need to account for all income and deductions allowed, otherwise you are likely to arrive at an incorrect amount for net income, and hence the wrong temporary maintenance award.
Occasional users can fill in the required worksheets from court website
To help New York family law attorneys who regularly handle divorces, Easy Soft has developed EzSupport-NY,a practice specific product that automates important aspects of New York divorce paperwork preparation, such as:
- Automatic calculations and generation of the new temporary maintenance guidelines worksheet
- New York Statement of Net Worth
- Child support worksheets and common state specified divorce forms
- Correspondence and other matrimonial litigation documents