The Untapped Potential of the New York Statement of Net Worth
If you’re a divorce attorney in New York, you know all about the Statement of Net Worth . You routinely prepare the Statement of Net Worth , even in uncontested divorce cases, to inventory your client’s assets and liabilities in preparation for distribution. Then, if you’re like most attorneys, you file the signed document away in the filing cabinet, not to be thought of again, unless it becomes a trial exhibit or judgment roll submission.
Have you considered using the Statement of Net Worth as an information repository throughout the duration of the case?
Instead of creating a static Statement of Net Worth , use Easy Soft’s EzSupport-NY software to make each one a dynamic document. Each time you receive financial information and updates from your client, opposing counsel, and third parties, input that additional financial information into your Easy Soft New York divorce forms software .
You can also use your Easy Soft New York divorce forms software to generate various distribution proposals. Using our software, once the assets and liabilities are entered, you can allocate those resources between the two parties. And, as you consider different options, you can easily change asset and liability allocations to generate a new report, including new dollar totals and percentage views.
Another way to use our New York family law software is to help your client prepare for income tax filings during and after the case. The Statement of Net Worth also contains income information, dependent information, details relative to purchase of a home that might be sold, accounts that might be income generating, and retirement funds that might be loaned against or cashed out in whole or in part. Accountants find this inventory useful, too, as they try to collect much of the same information.
This same income information from the Statement of Net Worth is also used to perform New York child support . Automation of child support and spousal support computations is just another reason to think of your client’s net worth form as a versatile and dynamic part of the divorce case.
And then there is post-divorce financial planning with a financial manager or investment advisor. Instead of your client having to go through repeat financial questions, your client can simply provide a copy of the Easy Soft Statement of Net Worth to the advisor, so that the conversation can move forward into goal setting.
With all these reasons to start using our EzSupport-NY software, isn’t it time you started your download?