Creating a Joint Financial Statement

What is a Joint Financial Statement?

A Joint Financial Statement can help you and your spouse organize your important financial information, and can be used for your own records or to show to someone else. Joint Financial Statements often cover the most common kinds of financial assets and liabilities and thus provide a clear snapshot of your financial portfolio.

Joint Financial Statements can help save time when you’re consulting with a professional such as an attorney, financial planner, estate planner, real estate agent, or broker. They can also be useful when you are starting a new business, preparing to buy real estate, getting divorced, or working on your estate plan. If you’re planning to apply for a loan, lease, or a line of credit, having a financial statement prepared can help demonstrate creditworthiness and increase your odds at getting approved. Moreover, keeping track of all your assets and liabilities in a single financial snapshot can help when having conversations about money and the future.

Note: If you are single, once a Personal Financial Statement is prepared, it may be more appropriate for you to get it Notarized for your situation. 

When to use a Joint Financial Statement:

You’re married and applying for a joint loan or line of credit.

You’re getting divorced and need to inventory all your financial assets and liabilities.

You’re making your estate plan and want to make sure your account for all your assets.

You’re meeting with an attorney, financial advisor, or other professional who needs your financial portfolio.

You want to figure out what your assets and liabilities are.

If you have more questions about starting or joining a lottery pool, reach out to Oakland Prime Mobile Notary for affordable guidance.

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