Massachusetts divorce lawyer Nicole K. Levy reviews the preparation of Financial Statements in Massachusetts Probate and Family Court cases. You will also include any other property that you own, including personal property, jewelry, and other valuables.In all cases, each party must complete a Financial Statement which provides a snapshot of current assets, debts, income and expenses. Section 10 – List the assets that you own separately or jointly. This is the section that sets forth all of your income, from all sources. 1. Estimates: If you are estimating any item, you should note that it is an estimate somewhere on the form or in an attached page. In Massachusetts, the financial statement form requires you to list income, assets, expenses and liabilities on a weekly basis. Why? In addition, the Financial Statement shows the judge your joint and individual assets and liabilities, so that they can determine an equitable division. See Massachusetts GL c. To fill out this financial statement, gather your financial information including income, expenses, and assets.
