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What is a Statement of Net Worth in Long Island Divorce?

by | Aug 28, 2018 | divorce, divorce lawyer long island ny, marital property, News and Events

One of the most important documents your divorce attorney will request from you and your spouse in the preparation of your Long Island divorce is known as a Statement of Net Worth (SNW). While this is a detailed document that can seem intimidating at first, it is critical for both your attorney and the court to have an accurate picture of your financial situation to effectively represent you and protect your interests in your divorce.

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If you are seeking to negotiate matters of child support, spousal maintenance and equitable distribution, among other issues, both your attorney your attorney and the court needs to know where you stand in order to negotiate or award payments.

What is a Statement of Net Worth?

A Statement of Net Worth is a financial disclosure document required of both parties in a matrimonial action. A Statement of Net Worth is a sworn statement of your income, expenses, assets and liabilities. This means that, by signing the SNW, you are swearing to its validity and truth under threat of perjury. Your three most recently filed tax returns, whether filed jointly or separately, and four current, representative paystubs must also be attached.

It is important to note that each party is entitled to disclosure, meaning each party may review the other’s SNW. Before signing a Stipulation of Settlement or a Separation Agreement, the parties should always exchange SNWs.

You should not underestimate the importance or complexity of your SNW. It will take a lot of time and work to properly complete. Additionally, in order to properly complete a SNW, you should provide your attorney with the following documents:

  • Tax Returns: Last 3 years Federal and State Tax Returns (including W-2’s and 1099’s);
  • Pay Stubs: Last 4 weeks of pay stubs;
  • Credit Report: You can obtain a copy of your credit report at no charge by visiting the website: and following the instructions;
  • Deed: Copy of recorded Deed for all parcels of real property;
  • Benefits: Employee benefit summaries or statements covering retirement benefits, pension plans and life insurance;
  • Pension: Summary Plan Description of pension plans;
  • Health Insurance: Medical, Dental, Vision and Prescription Insurance Information with plan identification numbers, descriptions of coverage, name and address of plan administrators;
  • Bank Accounts: Statements of all bank accounts (checking, savings, money market, CD, etc.);
  • IRA’s: Statements of IRA, 401K, and Keogh accounts and/or any other retirement funds or benefits not included on employee benefit statements (as requested above);
  • Mortgage: Mortgage statements including name of lender, original amount of mortgage, current balance, monthly payment amount, and whether taxes and insurance are included in monthly payment. If not, a copy of tax bills;
  • Life Insurance: Statement as to company name, policy number, type of policy, face value, loan balance information, case value;
  • Loan Statements: Statement of all loans showing creditor, account number and current balance;
  • Credit Cards: Statement of all credit card and charge card accounts showing outstanding balance, creditor information and account numbers;
  • Stock Certificates: Statement of all stock certificates, bonds, investment accounts, mutual funds and/or stock options;
  • Appraisals: Appraisals and/or Market Analyses information for all real property;
  • Vehicles: Blue book value of all cars, boats, trucks, motorcycles, etc., as well as copies of certificates of title;
  • Inheritances: Information on all inheritances, gifts from third parties; and
  • Employment: Chronology of all jobs held during the course of the marriage.

Once your final Statement of Net Worth is filed with the Court, this part of your Divorce Proceeding is complete. Occasionally, you may need to file an Updated Statement of Net Worth, but because you have put in the dedication and leg work your first time around, the updating will not be difficult or take you much additional time to prepare.

Have Questions About Your Statement of Net Worth? We Can Help

The Statement of Net Worth is a critical document in your divorce and it must be filled out accurately. In order to protect your rights and financial interests, it is important to have an experienced Long Island Divorce Attorney by your side. Contact our Long Island Divorce & Family Law firm at 631-629-2545 to set up your free consultation with one of our experienced Divorce and Family Law attorneys.


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At your meeting, your attorney will describe the many options available and determine together which is the right solution for you. By the end of this meeting we’ll all understand how we can best help you to move forward.

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Everett Roberts
Everett Roberts
14:30 18 Mar 20
Going through a divorce was very challenging and emotional. Searching for an attorney can be challenging as well when you consider everything that is at stake. The choice I made to work with Rob Hornberger was surely the best choice available. His professionalism, expertise, and understanding made him and the entire team perfectly suited to achieve the outcomes I desired. Rob was always available to answer my questions and give me advice and legal considerations that affected my situation. The support I received from his staff was exemplary as well. The staff was courteous, kind, and also very professional. Thank you so much Rob and team for a worry free experience.
Annemarie Cusumano
Annemarie Cusumano
21:41 17 Mar 20
Being in family court especially when your children are on the line is extremely emotional and stressful but working with Robert and Christine put me at ease and made the process as pleasant as a situation like that can be. I have a now 3 year old daughter (who is the most important person in my life) and I've been working with them for over two years since my daughter was 7 months old, the case has been up and down and through it all Rob and Christine have never given up. My original case was due to a neglect charge. Cps is not easy to work with, but Rob and Christine were vigilant and I ended up getting my daughter back within 8 months and did not have to plead guilty to the neglect. Currently I am in family court to figure out a custody agreement. They are professional, empathetic, and patient. They have always explained everything thoroughly, informed me of all my options and advised me of what my best option would be. They always respond quickly when I contact them with questions or concerns and most importantly they fight for me in court and don't give up even when things get rough. Before hiring Rob and Christine I met with other attorneys who did not make me feel confident or comfortable at all about my case, so I am very grateful to have found Rob and Christine and to be represented by such great attorneys. I highly recommend them for any family court matters and will definitely continue to use them in the future if needed.
Steven Frierman
Steven Frierman
02:25 07 Mar 20
After meeting with 3 different lawyers, we felt Robert understood us best and he genuinely had our best interests at heart. This helped us resolve a few minor issues in a timely fashion and make a potentially stressful situation go more smoothly.Thank you
Randi Gottlieb
Randi Gottlieb
18:47 03 Mar 20
Hornberger Verbitsky, P.C. - Mr. Robert Hornberger and his staff are beyond professional, they quickly gave me my consultation appointment, and helped me with an after-Divorce issue. Mr. Hornberger was empathetic and explained to me what I should expect. Mr. Hornberger was extremely professional and advised me of my options, he helped me proceed with accurate and smart decisions. I wish I had Mr. Hornberger and his highly recommended staff when I was getting divorced. I would highly recommend Robert and his staff to anyone who is getting a divorce or in need of help with situations after the divorce!
Rob Spielmann
Rob Spielmann
22:15 27 Feb 20
They made our process so easy. They were there to answer and help with any questions that came up. Very friendly


  • I have known Robert for more than 8 eight years. Robert has represented many of my family and friends. Each and every one has raved about Robert’s professionalism and expertise. He is knowledgable, friendly and truly cares about his clients. I would not hesitate to continue to refer Robert and his firm in the future!
  • I’ve known Robert for most of my life, and feel very fortunate that I have been able to turn to a good friend for various kinds of legal advice. He is very intelligent, straight forward, and professional. Most importantly though, Robert always finds the fastest resolution, and will not waste your time or money. He is NOT in the habit of dragging things through litigation if there is no need for the added expense. I have referred a few of my friends to Robert, and they have all been more than satisfied in their experience with him. Highly recommend!!



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