The Law Office of Lauren S. Cohen, LLC
Over 35 Years Of Experience At Your Side
Phone: 607-821-0100
Toll Free: 866-539-2596
Our Practice Areas

Key financial documents to use in a divorce

During the divorce process, an individual will want to have access to as much information as possible. A person could use a New York state tax return to gather data about his or her household's net worth. A federal tax return may also yield clues about how much a household is worth and whether a spouse may be hiding or obscuring assets. In most cases, returns from the past three years will be most relevant in a divorce proceeding.

Anything gleaned from a tax return can be used to create a statement of net worth. This will include the value of any assets a person holds directly, and it can also include the value of assets of which an individual may have an interest. For instance, an individual may be entitled to a portion of a retirement account held in his or her spouse's name only.

The value of the assets will be reduced by the amount of any sole or joint debts a person has accrued. As part of the divorce process, it may be a good idea to conduct a lifestyle assessment. This can help show how a person's income and expenses will change and what adjustments may need to be made to account for them. A variety of online tools can help determine a person's income and expenses, both now and into the future.

It is possible for a person of either gender to obtain financial support in a divorce. Typically, a judge will look at the income, expenses and work history of both parties. Those who may be able to find work after a divorce may be entitled to limited support until that happens. An attorney may help a person organize financial records for use in settlement talks or a divorce trial.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Let's Work Together To Resolve Your Legal Issues. Contact Me Today.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact Information

The Law Office of Lauren S. Cohen, LLC

Endicott Office
2301 Country Club Road
Endicott, NY 13760

Toll Free: 866-539-2596
Phone: 607-821-0100
Johnson City Law Office Map

Binghamton Office
49 Court St
Binghamton, NY 13901

Toll Free: 866-539-2596
Phone: 607-821-0100
Map & Directions

Johnson City Office
Mailing Address
830 Oakdale Road
Johnson City, NY 13790

Map & Directions