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Preliminary Declaration of Disclosure(Pdd)

HIDING ASSETS OR AVOIDING TO DISCLOSE ASSETS IN DIVORCE PROCESS, CAN I DO IT?

It is the policy of the State of California to preserve and protect community and quasi-community assets and liabilities that exist at the date of separation.

In order to promote this public policy, a full and accurate disclosure of all assets and liabilities must be made, regardless of the characterization as community or separate, together with a disclosure of all income and expenses of the parties.

Each party to a proceeding for dissolution of the marriage or legal separation is required by law to serve on the other party a Preliminary Declaration of Disclosure. There are a few rare exceptions when this requirement can be viewed.

Preliminary Declaration of Disclosure consists of series of forms:

1. Income and Expense Declaration (form FL-150);

2. Schedule of Assets and Debts (form FL-142) or Declaration of Community Property (form FL-160) and Declaration of Separate Property (form FL-160);

3. Declaration of Disclosure (form FL-140); and,

4. Declaration Regarding Service of Declaration of Disclosure (form FL-141).

These forms can be found at:

https://www.courts.ca.gov/documents/fl150.pdf

https://www.courts.ca.gov/documents/fl142.pdf

https://www.courts.ca.gov/documents/fl160.pdf

https://www.courts.ca.gov/documents/fl140.pdf

https://www.courts.ca.gov/documents/fl141.pdf

Parties are required to serve the aforementioned forms on each other; upon service only one form needs to be filed with the court, Declaration Regarding Service of Declaration of Disclosure (form FL-141).

These forms are extremely important and have to be completed properly because if not done correctly, you/your spouse can be subject to severe sanctions in the form of attorney’s fees and an award of an entire asset to the other party.

Additionally, along with the aforementioned forms you are required to provide your spouse with a copy of the following documents:

1. Paystubs/LESs for the last 2 months;
2. All current bank/financial statements confirming the value of your assets and debts (deeds, titles, bank statements, mortgage statements, promissory notes, insurance policies and etc.); and,
3. Tax returns for the last 2 years.

Deadlines for service of Preliminary Declaration of Disclosure:
1. The petitioner shall serve his/her Preliminary Declaration of Disclosure either concurrently with the petition for dissolution of the marriage or legal separation, or within 60 days of filing the petition.

2. The respondent shall serve his/her Preliminary Declaration of Disclosure either concurrently with the response to the petition, or within 60 days of filing the response.

3. The time periods may be extended by written agreement of the parties or by court order.

DISCLAIMER: This Blog/Web Site is made available by the lawyer/law firm publisher for educational purposes ONLY as well as to give you general information, not to provide specific legal advice. This article should not be taken in any way as legal advice on your specific legal matter.

Please contact me at 619-737-3919 to schedule a 30-minute initial complimentary consultation to discuss your personal situation.

NOTICE: This Blog/Web Site constitutes advertisement materials and is meant for the residents of the State of California only. By using this Blog/Web Site you understand that there is no attorney client relationship between you and the Blog/Web Site publisher. The materials presented in the Blog/Web Site may not reflect the most current legal developments, verdicts or settlements. These materials may be changed, improved, or updated without notice. The Law Office of Maria Rogova is not responsible for any errors or omissions in the content of this Blog/Web Site or for damages arising from the use or performance of this Blog/Web Site under any circumstances.

https://www.rogovalawfirm.com/

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About

Ms. Rogova, who is bilingual English-Russian, earned her law degrees from American and Russian universities. She earned her Russian law degree in 2003 and practiced law in Russia for over 7 years. Ms. Rogova has a broad range of legal experience in Russia such as contract litigation, corporate law, arbitration, real estate, and labor law. In addition to her law degree, in 2007 Ms. Rogova earned a Master of Finance degree.