Statement of Net Worth in New York Divorces: A Guide to Financial Transparency
Navigating the Statement of Net Worth in New York Divorces In a New York divorce, a Statement of Net Worth (SONW) is the financial blueprint that reveals each spouse’s assets and liabilities, creating a roadmap for dividing assets and establishing support obligations. Understanding the SONW’s Significance A SONW is crucial because it provides a clear picture of each spouse’s financial situation, ensuring fair asset distribution and determining support payments for children and spouses....