When is the statement of Net Worth Exchanged in Massachusetts?
Many people going through divorce in Massachusetts feel overwhelmed when it’s time to fill out the Financial Statement—whether it’s the Short Form (for those earning under $75,000 per year) or the Long Form (for incomes of $75,000 and above). This is completely understandable. Few individuals have an up-to-date record of every expense, retirement account, taxable asset, real estate holding, and outstanding debt at their fingertips.
That’s why it’s important to start early. Whether your divorce is going through mediation or court, having this information ready and accurate will prevent delays, reduce stress, and help you avoid unnecessary legal expenses. In Massachusetts, the Financial Statement is often required early in the process, especially when seeking temporary orders or attending a case management conference.
Who Can Help You Fill Out the Massachusetts Financial Statement?
Because this is a sworn financial affidavit submitted to the Probate and Family Court under penalty of perjury, many individuals choose to get help completing it. Often, an attorney or legal assistant will assist in preparing the form—but that can take time and cost hundreds of dollars per hour.
There are also non-attorney financial affidavit specialists who focus specifically on helping individuals fill out these forms correctly and affordably. While they cannot offer legal advice, they can guide you step by step through the financial documentation process, helping you complete the Financial Statement faster and more accurately.
Regardless of who helps you prepare the form; your attorney will need to review it with you before it’s submitted. Accurate and honest financial disclosure is one of the most important parts of a successful divorce in Massachusetts.
Get Ready: What to Do Before Completing the Financial Statement
Take a breath—this will take a little time. But getting organized now will save you hours later and may prevent costly mistakes or court rescheduling.
Income & Deduction Information
- Federal and state tax returns (past 2–3 years)
- W-2s and/or 1099s
Assets
-
Real estate documents (deeds, valuations, mortgages)
-
Vehicle registrations and valuations
-
Bank statements (checking, savings, money markets)
- Investment account summaries (stocks, mutual funds, brokerage)
-
Retirement account statements (401(k), IRA, pensions)
-
Business ownership records, if applicable
Housing & Living Expenses
- Rent or mortgage statements
- Utility bills (electric, gas, water)
- Insurance premiums (home, auto, medical)
- Child care expenses
- Medical bills and ongoing costs
Liabilities & Debts
-
Credit card balances
-
Auto, personal, or student loans
-
Home equity lines of credit
-
Any other loans or monthly debt obligations
-
Installment agreements and their payment schedules
Final Tip:
Start now. Even if you’re unsure about certain numbers, begin gathering the documents. It’s easier to revise with accurate data than to start from scratch under pressure. Whether you’re negotiating an agreement or appearing in court, a complete and well-prepared Financial Statement can save you time, money, and frustration during your divorce in Massachusetts.
