How To Complete Schedule Of Assets And Debts Form FL-142 | Santa Clarita DivorceSunday, October 21st, 2012
How To Complete Schedule Of Assets And Debts Form FL-142 | Santa Clarita Divorce
The schedule of assets and debts form FL-142 is one of the essential disclosure forms that makes us the declaration of disclosure during a divorce in California.
The schedule of assets and debts along with the income and expense declaration makes up what is known as your disclosures during the divorce process.
The schedule of assets and debts is a 4 page form that has you list all your assets and debts whether or not they are separate property or community property. You will also have to assign a value to all your property.
When you are assigning value to your property, you do not list what you paid for that item, rather what it’s values is today if sold. The courts say to think what you could get for that item at a garage sale or if you sold it on an online auction, etc.
When you list your assets and debts, you will need to supply a statement for everything that has an account number. For instance:
- Credit card statements
- Bank statements
- Mortgage Statements
- Vehicle Registration
- Life Insurance Policies
- Stocks, Bonds and Mutual Funds
- Again, anything with an account number
Essentially, you want to provide a written statement of everything you list on the schedule of assets and debt.
When listing your assets and debts it is not necessary to provide the entire account number for your checking accounts and credit card statements. All you need to do is supply the last 4 digits of the account numbers so that they can be identified.
Please give us a call if you would like to discuss having our licensed and bonded legal document assistant firm prepare your divorce forms for you. We are located in Santa Clarita and specialize in the divorce process.