Submitted by Jewels on Sat, 05/29/2010 - 08:17
My income is way under $75k per year so I'm using the shorter form of the financial statement. I'm doing the divorce myself and finding the form to be a bear. My question is if I don't know how much something is worth, like jewelry or a car, is it OK to make a guess or an estimate? Also, should I include my personal pension fund in the financial statement?
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Editor's Response
The financial statement is just one of many reasons I always recommend that parties to a contested divorce hire a divorce lawyer. Rather than estimating, the better practice is try to obtain an appraisal from some qualified source. However, if you have to make an estimate, be sure to indicate on the form that you are estimating. If it later comes out (and, in contested divorces, it probably will) that you vastly underestimated the value of some item, that may harm your credibility with the court. As to your second question, yes, retirement accounts are part of the martial estate and must be included. Good luck.