Financial Disclosure Preparation
Accurate financial disclosure is legally required. Both parties are obligated to provide a comprehensive overview of their financial standing.
This helps in crafting fair and equitable settlements both in mediation and in litigation.
Assets
Assets are items of value that a person or a couple owns. They can include both tangible and intangible possessions.
- Real Property
- Personal Property
- Financial Assest
- Busines Interests
- Intellectual Property
Liabilites
Liabilities are debts and financial obligations that a person or a couple owes.
- Mortgages and Home Loans
- Car Loans
- Credit Card Debt
- Student Loans
- Business Debts
Net Family Property Statements
A Net Family Property Statement (NFP) is a legal document used in family law that follow the principals of equalization of family property. The NFP is a crucial component in determining the division of property between spouses.
- Calculating each spouse's net worth as of the date of marriage and date of separation (valuation date).
What is included in a Financial Statement?
Be Prepared
In complex financial situations, having a knowledgeable professional on your side can contribute significantly to a positive outcome in family court proceedings.