Financial Disclosures in California Divorce: Step-by-Step Guide
California’s financial disclosure rules exist to protect both spouses and ensure a fair division of community property. By exchanging complete and accurate statements, each party honors a fiduciary duty of transparency. Judges can penalize anyone who conceals assets or drags their feet, ranging from monetary sanctions to the loss of a contested asset. Thorough disclosures shorten litigation, fuel productive settlement talks, and form the backbone of reliable child- and spousal-support calculations. This guide walks you through every required Judicial Council form, key deadlines, and proven document-gathering tips so you can file confidently.
What Is a Preliminary Declaration of Disclosure?
The Preliminary Declaration of Disclosure (PDD) is a mandatory packet of forms that both spouses must exchange within 60 days of filing the divorce petition or response. It contains a cover sheet, asset and debt schedules, income details, and supporting documents. Unlike the optional final declaration, the preliminary exchange cannot be waived by agreement. California Family Code §2104 places this early transparency at the center of community-property fairness. Because information travels both directions, neither side can hide bank accounts or inflate debts without the other spotting inconsistencies before settlement discussions begin.
Understanding FL-140: Declaration of Disclosure Cover Sheet
Form FL-140 acts as a checklist and sworn statement that the rest of your disclosure packet is complete. You will tick boxes confirming that you have included Schedule of Assets & Debts (FL-142), an Income & Expense Declaration (FL-150), and tax returns for the previous two years. After signing “under penalty of perjury,” keep a duplicate copy in your settlement file; mediators, collaborative-law professionals, and the court clerk may ask for it during negotiations.
FL-142: Schedule of Assets & Debts
Form FL-142 lists every bank account, vehicle, real-estate parcel, credit card, and loan—not just community property. California requires separate-property items too, because character can change through commingling or transmutation. When valuing real estate, use a recent appraisal or broker opinion rather than an online estimate such as Zillow; judges frown on “drive-by” numbers. Attach account statements that cover the date of marriage and date of separation whenever possible and link to our deeper dive on property division.
- Do not forget cryptocurrency exchanges—print wallet ledgers and USD equivalents.
- List employer stock options and RSUs even if unvested.
- Clarify student loans: community versus separate by tracing disbursement dates.
FL-150: Income & Expense Declaration
Judges later use Form FL-150 to calculate guideline child support and temporary spousal support, making accuracy crucial. Attach at least two months of pay stubs; if self-employed, include a year-to-date profit-and-loss statement and a balance sheet. Over-time, commissions, and bonuses go in separate boxes. Gig workers should list platform names and provide 1099-K forms or transaction summaries. Inconsistent numbers between this form and your tax returns raise red flags, so reconcile before filing.
| Form # | Who Must File | Earliest Due Date | Latest Acceptable Date |
|---|---|---|---|
| FL-140 | Both spouses | With FL-142 & FL-150 | 60 days after petition/response |
| FL-142 | Both spouses | With FL-140 cover sheet | 60 days after petition/response |
| FL-150 | Both spouses | Same as FL-140 | 60 days after petition/response |
| FL-141 (waiver of final only) |
Optional | After settlement execution | Before judgment submission |
| FL-160 | Either spouse (if complex assets) |
Anytime | Before trial or agreement filing |
Common Mistakes to Avoid
- Listing “unknown” as the value for a family home without an appraisal.
- Redacting entire account numbers—courts allow masking all but last four digits.
- Omitting Venmo, Cash App, or PayPal balances that hold significant funds.
- Forgetting restricted-stock units or employee stock-purchase accounts.
- Using post-tax balances for retirement accounts instead of gross value.
Collecting & Organizing Supporting Documents
A thorough disclosure packet includes copies—not originals—of every statement that proves your numbers.
Save documents to a single cloud folder and name files consistently (e.g., BankOfAmerica-Checking-Jan2025.pdf).
Last 12 months
Last 12 months
2 years
Latest quarterly
Serving the Disclosure
California allows personal service, mail service accompanied by Proof of Service by Mail, and electronic service if both parties stipulate in writing. Whichever method you choose, service must occur within 60 days of filing your petition or response. Put a calendar alert five days before the deadline to avoid scramble. A neutral adult—not you—must complete Judicial Council form FL-335 to prove delivery. Remember: updated disclosures are required before trial or before the judge signs your marital settlement agreement. Learn more about filing logistics in our divorce paperwork checklist.
When Your Spouse Won’t Comply
Non-compliance often starts with missed deadlines or partial statements. Send a meet-and-confer letter reminding your spouse of the Family Code §2107 duty and offering a short extension. If that fails, file Form FL-300 (Request for Order) seeking an order to compel, plus attorney’s fees. Judges can impose issue sanctions that bar the non-compliant spouse from raising certain arguments at trial, or even award the innocent spouse a larger share of assets. Dive deeper into enforcement tactics on our enforcement options page.
Frequently Asked Questions
Quick Reference Checklist
Keep this checklist handy when heading to court—having every document in order reduces stress on hearing day.