A net worth statement is simply a complete list of what you own and what you owe. During the divorce process, it is called an inventory. Start with determining what categories you will want to include. For example: real estate, bank accounts, investments (non-retirement), limited partnerships, retirement accounts (401k, 403b, IRA, pension plan), vehicles (includes boats, motorcycles, airplanes), other assets (think collections, artwork, tools), credit card balances, mortgage balance, vehicle loan balances. Assemble all the statements (online or paper) from which you have obtained the values/balances for these items. Make an extra copy of those statements and store them in the file with your net worth statement. That way, you will save time and money when you give your attorney or financial advisor a copy of your net worth statement. Think of it as a paper trail or a pile of source documents.
Bring a currently updated file to your attorney interviews and to your first appointment with your divorce financial advisor.
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