NEW YORK DIVORCE-Net Worth Statements

Perhaps some of the best--and worst--creative writing is done by parties to a divorce on their Net Worth Statements. This "creativity" can come back to haunt a party, however, when later documentary discovery shows the Net Worth Statement to be more like a Not Worth Statement or even a Nut Worth Statement. When you are involved in a divorce, remember you are swearing to the accuracy of your Net Worth Statement. False swearing is a criminal no-no, and will not endear you to your trial judge when you are caught. If you are listing expenses that are proposed and not actually incurred, make sure that these are properly labeled as "proposed." When giving estimates note that these are estimates. If you have no friggin idea about what something is worth, you can note it "TBD" to be determined, or subject to appraisal. Then you will be able to sleep better at night, and the divorce fairy won't put a bomb under your pillow.
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