A Statement of Net Worth isn’t a personal budgeting worksheet. In a New York divorce, it’s a sworn financial disclosure that can be compared against tax returns, account statements, payroll records, and the other spouse’s submissions. The current statewide form, effective January 1, 2026, replaces older versions. Online guidance that predates the revision may not reflect the current form or its signing requirements.
Preparing a New York Statement of Net Worth in Divorce requires more than listing a paycheck and a checking account. Our attorneys exclusively practice divorce and matrimonial law and have handled more than 3,000 divorce cases. That experience helps us recognize where an incomplete financial picture creates problems later in the case. Problems that are far easier to address before submission than after.
What Is a Statement of Net Worth in New York Divorce?
A Statement of Net Worth is a detailed disclosure of a spouse’s income, expenses, assets, property interests, debts, and certain asset transfers. It’s generally required in matrimonial cases under 22 NYCRR 202.16 and creates a common financial record while the parties address issues under New York Domestic Relations Law Section 236, including equitable distribution, spousal maintenance, child support, and counsel fees. The statement informs those questions; it doesn’t decide them.
New York Courts provides the current form in PDF, fillable PDF, and Microsoft Word formats. The January 1, 2026 revision replaces prior notary language with an affirmation under CPLR 2106, a signed declaration under penalty of perjury, bringing the form in line with New York’s broader shift away from notarized affidavits in civil proceedings. Before signing, confirm you’re working from the current version and following the required procedure in your case.
What the Form Requires
The form is designed to capture the full household financial picture. An item can be relevant even if it’s jointly held, titled solely in one spouse’s name, or not currently producing income.
Core financial categories include:
- Income: Wages, overtime, bonuses, commissions, self-employment income, rental income, investment income, pensions, and other payments.
- Monthly Expenses: Housing, utilities, food, transportation, insurance, medical costs, childcare, tuition, debt payments, and recurring personal expenses.
- Assets: Checking and savings accounts, brokerage accounts, retirement plans, real estate, vehicles, business interests, cash value life insurance, and valuable personal property.
- Liabilities: Mortgages, home equity loans, credit cards, vehicle loans, tax obligations, personal loans, and other outstanding balances.
- Property Interests and Transfers: Real property, inherited assets, trusts, ownership interests, and transfers of money or property that the form requires you to identify.
Property title alone doesn’t resolve whether an asset is marital or separate. Marital property generally includes assets acquired during the marriage; separate property can include assets owned before marriage, inheritances, gifts from someone other than a spouse, and property protected by a valid agreement. Whether an item stays separate often depends on facts like commingling, use of joint funds, and documentation. It does not depend solely on whose name is on the account.
What to Gather Before You Start
Start with records that show actual balances, payments, and income rather than relying on memory.
Useful records to collect:
- Income Records: Recent pay statements, W-2 forms, 1099 forms, recent tax returns, and documents reflecting bonuses or commissions.
- Banking Records: Statements for checking, savings, brokerage, cryptocurrency, and other financial accounts.
- Debt Records: Credit card statements, mortgage statements, loan payoff information, and documentation of tax liabilities.
- Property Records: Deeds, closing documents, mortgage records, vehicle titles, lease agreements, and appraisals if available.
- Retirement and Business Records: Retirement account statements, pension information, business tax returns, profit and loss statements, and ownership documents.
- Expense Records: Household bills, insurance statements, childcare invoices, medical bills, tuition records, and recurring subscription or service charges.
Some assets require more than a statement showing a balance. A closely held business, real estate holding, restricted compensation award, pension benefit, or investment account with unusual holdings may need additional records and, in some cases, a professional valuation. Completing the form identifies the issue. It doesn’t eliminate a legitimate dispute about value.
How to Complete the Statement Accurately
Accuracy means reporting complete information based on reasonable current records, not forcing every entry into a false precision. If an item is unknown, unavailable, disputed, or inapplicable, the appropriate response depends on the form and the circumstances. Don’t omit an item simply because the information is difficult to obtain.
Report Variable Income Carefully
Income isn’t always a fixed salary. If compensation includes fluctuating commissions, seasonal work, tips, bonuses, deferred compensation, or business distributions, gather records that show the pattern over time. A single strong or weak month may not reflect the full picture, and tax returns can provide useful context alongside current payroll or business records.
Use Supportable Asset & Debt Values
List account balances and debt amounts from recent statements when possible. For real estate, the mortgage balance and the property’s market value are different figures, and both may matter. If the spouses disagree about a home, business, retirement asset, or other item, identify the property accurately and preserve the records that may be needed to evaluate it.
Address Missing Records Directly
Accounts that are difficult to access, records held by a business, or documents controlled by the other spouse can complicate financial disclosure. Keep track of what you’ve requested, what remains unavailable, and what you can verify independently. An attorney can advise whether formal discovery (the court-supervised process for obtaining relevant documents) is appropriate.
Before submission, review the completed form for consistency with supporting documents and confirm it uses the 2026 affirmation language. Financial circumstances can change during a divorce, so an update may be needed if income, balances, expenses, or property information changes materially.
What Happens After the Statements Are Exchanged
Once both parties exchange their statements, each side can review the other’s reported income, assets, expenses, and debts against available records. This often occurs as the case moves toward a preliminary conference, an early court appearance that addresses scheduling, disclosure, and case management.
Differences between the two disclosures can lead to follow-up questions, document requests, depositions, subpoenas, professional valuations, or court involvement. An unexplained transfer, a missing retirement account, or an expense figure that conflicts with bank records may require clarification. The disclosure shapes settlement discussions about support and property division, but a court weighs the full record and applicable law when resolving disputes. A reported value may be challenged, and a claimed separate property interest may require proof. The form is an important foundation. It is not the final answer to every financial question.
Common Mistakes to Avoid Before You Sign
Most problems start with omissions, unsupported figures, or a rushed review. Catching gaps before signing is far easier than correcting them after the other spouse or the court identifies them.
Review these areas before signing:
- Accounts in One Name: Include accounts held solely in your name as well as jointly held accounts.
- Recurring Expenses: Account for regular costs such as childcare, insurance premiums, medical expenses, tuition, and debt payments.
- Deferred Compensation: Identify bonuses, stock awards, restricted compensation, pensions, and other compensation that may not appear in regular wages.
- Business Interests: Disclose ownership interests, business accounts, distributions, and records connected to a business.
- Transfers and Gifts: Review recent transfers of money or property and provide required information rather than assuming they’re irrelevant.
- Changing Balances: Update significant changes in income, debt, account balances, or expenses when required.
Unsupported estimates can undermine credibility and trigger corrections, additional disclosure, or disputes that stall progress. If records are incomplete, assets are difficult to value, or you believe the other spouse may be concealing property, get individualized legal guidance before you sign.
Build a Financial Picture You Can Stand Behind
Careful preparation does more than satisfy a court requirement. It gives you and our attorneys a clearer view of the questions that may affect support, debt, real estate, retirement savings, and property division before the case moves forward.
At Eiges & Orgel at Ballon Stoll P.C., our divorce attorneys provide clear communication, direct attorney access, and guidance tailored to each client’s financial circumstances. To discuss your situation, contact us at (347) 848-1850.