Financial Assessment
/ˌfaɪnænʃəl əˈsɛsmənt/
Definitions
- (n.) A process of evaluating an individual's financial status to determine eligibility for legal aid, benefits, or obligations such as child support or bankruptcy.
The court ordered a financial assessment to decide the level of child support payments.
- (n.) An evaluation conducted by financial authorities or institutions to appraise the solvency or financial condition of a business or debtor in legal proceedings.
The trustee performed a financial assessment before approving the bankruptcy plan.
Forms
- financial assessment
- financial assessments
Related terms
See also
Commentary
In legal drafting, clearly distinguishing the context—whether individual eligibility or institutional solvency—is crucial when using 'financial assessment.'
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.