Posts Tagged ‘dividing assets and debts’

Financial Disclosures (FL-150 & FL 142) Required in California Divorce

By on February 23, 2011 | Category: Blog | Tags: , , , , , , , , , |

Both parties to a divorce or legal separation case in California are required by law to make certain financial disclosures to each other within a reasonable time after the initial papers (Petition and Response) are filed with the court. There are both preliminary and final disclosures.

In practice, it is strongly recommended that preliminary financial disclosures be completed and exchanged by both parties before moving forward with settlement negotiations. (How can you talk about dividing assets if you don’t have a complete picture of the community estate?)  Read more …

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