California Divorce Financial Disclosures Requirements

California Divorce Financial Disclosures Requirements

If you still haven’t chosen to use our service no problem. We’re going to keep on going in letting you know how the Divorce process works.

So now we’re on in talking about the financial disclosure stage.

At this point we’ve already discussed what forms you need to file initially to get the case issued, how to get the case number issued, how to serve the documents properly.

And we talked about the six months cooling off period. Today we’re talking about the completion of your financial disclosures.

Look when you’re going through Divorce, if you have children Divorce is about children of course but other than that it’s about dividing up your assets and debts, it’s about money.

So the courts require that you and your spouse file and serve on each other an income and expense declaration and a schedule of assets and debts.

Essentially the schedule of assets and debts is where you’re going to list all your properties, separate in community.

The stuff you had before marriage, during marriage, after separation, you’re going to list your stuff, you had your spouse’s stuff whether in your name alone or their name alone whoever is going to keep it you’re just listing property.

You’re just listing stuff. So we’re talking about bank accounts. We’re talking about checking account.

We’re talking about credit cards, vehicles, pensions, you name it. If it’s an asset or a debt well regardless if whose name is in it’s something you should list.

The purpose for doing that is to disclose to your spouse and say ‘This is what I know to be of the property.’

So later on when it comes to making agreements as far as division of assets and debts you can sit down and say what’s going to be fair and equitable in the division of property.

The other form is the income and expense declaration.

The courts wants to know what the parties make in most cases for purposes of determining spousal support if that’s going to be requested or in determining child support if there are children involved.

The income and expense and schedule of assets and debts in an Uncontested Divorce are not served on our not filed with the court.

This is an information only type document that is served on your spouse.

There are some other corresponding documents that need to be served along with it. And then you file ingle document with the court that lets the courts know that you complied with this rule and you filed and served your income and expense, schedule of assets and debts on the party.

Now the rules of the court in California states that within 60 days of filing your initial case that you should have your financial disclosures complete.

I hope that makes sense. That would be your next step after serving your documents as for each of you to complete your financial disclosure and serve them on each other and file with the court the document indicating you have done so.

I’ll be happy to handle your case at any time.