This document may seem extremely daunting, but it is a document that is required in every divorce action. This document includes all your assets and liabilities, including any accounts you have, real estate, property, credit card debt, etc.
Before any settlement discussions can begin both parties must provide their attorney with their completed Statement of Net Worth. This is so each party is fully aware of what their spouse has so there can be a fair discussion of how the assets and liabilities will be divided. It is the proper way to begin any discussions in a case so both parties are fully aware of all of the marital assets/liabilities before thinking about a potential settlement.
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