Declaration Of Disclosure

Posted August 5, 2020

California Family Law § 2104 law requires each party of a family law proceeding to serve the other with his or her declaration of disclosures within 60 days of filing the Petition for Dissolution of Marriage/Registered Domestic Partnership or Response. The exception is when the case proceeds by default, although it is best practice and most effective if both parties provide a financial picture when working towards settlement.

What are declaration of disclosures and why do I have to do them?

Declaration of Disclosures are comprised of four main documents: Declaration of Disclosure, Income and Expense Declaration, Schedule of Assets and Debts, and Declaration Regarding Service of your Declaration of Disclosures.

The Declaration of Disclosure form is essentially your cover sheet to the rest of the documents. It is used to confirm who you are in the action, whether these are the preliminary or final forms, and a statement regarding valuation of the assets, obligations, and whether any investment opportunities have been presented to you since the date of separation.

The two most important and time-consuming documents are your Income and Expense Declaration and your Schedule of Assets and Debts.

A Schedule of Assets and Debts is exactly that: it is a form that lists all of your assets and your debts as well as the assets and debts of the other party and the value of each asset and debt at the date of separation, to the extent possible. When filling out this form, it is best to keep in mind that if an asset or debts is known to exist, whether or not you know the value of it, it should be listed on the form. If an asset or debt is in your name, you need to provide backup documentation for any values or ownership listed. That means that all statements from date of separation, from any financial institution listed on the form should be provided, along with deeds and titles of ownership. That being said, because you have a duty to update the disclosures when a change of circumstance occurs that could potentially affect the assets, debts or liability of the item in question, you must also provide current statements. The current statements will also be used when filling out your Income and Expense Declaration.

Further Reading » Reviewing and Updating your Estate Plan – When, Why and How

An Income and Expense Declaration is different from a Schedule of Assets and Debts as it lists all income and expenses. It is used to paint a picture of what your income is or what you anticipate it will be or what you will need after your divorce. Pay stubs, profit and loss statements or additional documentation related to your financial picture are required to be provided with this form.

The last form is your Declaration Regarding Service of Declaration of Disclosures. This is the only form that is required to be filed with the court. That is not to say that your Income and Expense Declaration will not be filed with the court in the future, but that is another blog all together. Without this form, the court will not enter your judgment.

When filling out these forms, it is best to keep in mind that they may be the most important forms in your case, and they are being signed under penalty of perjury. Not only do they provide a financial picture to you, your attorney, and the opposing party, they are vital to reaching a settlement in your case.

The silver lining is that Naimish & Lewis, APC have experience in filling out this form and we will help you along the way.

Robert J. Allison, Esq.

Mr. Allison is a resolution-oriented associate attorney in our Family Law Practice. Even-keeled and fact focused, he is able to assist our clients understand their rights and obligations through the stress and smoke and mirrors presented in their divorce, custody, and domestic violence matters. During the initial consultation, and again once facts and evidence have been collected, Mr. Allison provides various strategies to help clients present their cases, considering cost, time, and client needs. He prides himself in not making false promises to his clients and is unafraid to speak the raw and sometimes harsh reality of how a Court will decide a matter given a specific set of facts and circumstances, both to his clients and to opposing parties. Many potential clients share that they are unhappy with their previous attorneys because they felt a lack of communication, an uncertainty about the family law process and timeline, and they do not understand the strategy in their case or the invoices they receive. While the legal process is complex, Mr. Allison attempts to reduce the confusion through a reasonable case management process involving client participation, because a family law case is often the most difficult period of time in a client’s life.