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How Useful is Your Networth Statement?

By Ivon Lerdorf Subscribe to RSS | January 18th 2012 | Views:

Whether your client is worth of $1,000 or $1 million, no mandatory case document is more important than the networth statement.

In every one of the fifty states, the networth statement is the document that contains basic information about the parties and their children, household budgets, assets, and liabilities. The networth statement is the directory to all things financial for every divorce case.

No matter how many pages of financial statements you have, a complete networth statement is critical for fast courtroom responses. If you’re standing in a courtroom in New Jersey and the judge asks “How much is Mary’s checking account worth,” you should be reaching for Easy Soft’s NJ Case Information Sheet. Your ability to respond quickly can make the difference of whether the judge listens to you or your steal-the-show opposing counsel.

Need another reason? Credibility determinations are often made on the basis of the quality of presentation of the networth statement. If you’re a judge in New York, which would you be more likely to believe: a networth statement that was computer-generated using Easy Soft’s NY Statement of Net Worth or one that was handwritten with math mistakes? With each case that you present using Easy Soft’s divorce settlement software your individual client’s credibility grows and so does yours, and that same credibility can translate into real dollars and cents for your client.

And how many times have you seen the judge rifling through the networth statement, whether during a motion, in a conference, or at trial? In Arizona, Exhibits B through Q might be hundreds of pages of financial statements, but your judge should be making notes on Exhibit A, Easy Soft’s AZ Affidavit of Financial Information. Stenographers read along with the networth statement when your client is giving testimony. And judges’ law clerks make the first draft of decisions with those networth statements on their already-cramped desk.

While there isn’t a substitute for obtaining primary source financial documents, every state requires attorneys to boil down the stacks of numbers into the networth statement.

Shouldn’t you be sure that your client’s networth statement is as useful as the ones produced with Easy Soft?

Ivon Lerdorf - About Author:
Easy Soft specializes in helping law firms automate their processes with arizona divorce software. Easy Soft has automated software solutions for virtually every practice area, from case management, document assembly and pennsylvania divorce software, to law practice management software.

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