Posts Tagged ‘Income and Expense Declaration’

Income and Expense Declarations (FL-150)

By on February 27, 2011 | Category: Blog | Tags: , , , , , , , |

Income and Expense Declarations (or Judicial Council FL-150) forms are used to determine a party’s monthly income and expenses, education and training, tax filing status, and the approximate values of his/her checking, savings, and investment accounts and personal and real property.

The Income and Expense Declaration can be required as part of the financial disclosures in a divorce or legal separation case, to file or respond to a support motion, or even at the request of theother party prior to the filing of a motion to modify support.  Read more …

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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