On your Schedule of Assets and Debts form you must list all assets you have an interest in, including assets held jointly with any third parties. Your Schedule of Assets and Debts is Not Just About You The Income and Expense Declaration form also includes line items for investment income, self-employment income, certain monthly deductions, work related expenses, the sum of money held in deposit accounts and household members, among many other items. If you are someone who has been in the dark about your spouse’s income during your marriage, the disclosure process may be quite eye opening. This form discloses to the other party your income, both monthly and for the past 12-month period, and your monthly expenses. Your Income and Monthly Expenses are Included in the Disclosure ProcessĪn Income and Expense Declaration can be filed with the court. You must include copies of the two tax returns, whether individually or jointly filed. Do you still need to attach the joint returns? The answer to this question is yes. Under Family Code § 2104, the “preliminary declaration of disclosure shall include all tax returns filed by the declarant within the two years prior to the date that the party served the declaration.” In some marriages, the taxes filed the two years prior to the date of the disclosure declaration are joint tax returns. The Declaration of Disclosure form is not filed with the court but must be served with the disclosure packet. You Must Exchange Copies of Your Tax Returns Income and Expense Declaration (FL-150).The 3 components of a Preliminary Declaration of Disclosure are the following: If the responding spouse (referred to as “Respondent”) filed a formal Response with the court, he or she must also complete and serve a Preliminary Declaration of Disclosure packet of their own. ![]() If service of the Summons and Petition was completed through publication (versus personal service or through the notice and acknowledgment of receipt process) and the recipient spouse has not filed a formal Response and is in default, the Petitioner does not have to complete the otherwise necessary disclosure paperwork. The exception to this disclosure requirement is when the Petitioner serves the Summons and Petition on their spouse via publication. ![]() California Has Mandatory Disclosure Requirements in DivorceĬalifornia law requires the spouse initiating the divorce case (referred to as “Petitioner”) to complete a Preliminary Declaration of Disclosure packet and serve the packet on the other spouse. How about accounts held only in their name? The answer to both questions is yes. Spouses often wonder whether they have to disclose their separate financial accounts a divorce proceeding.
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