FREE PHONE CONSULTATIONS AVAILABLE
619-299-9780
Financial disclosures are required in a California divorce, even when both spouses agree on how they want to divide everything. You will need to provide information about your income, property, debts, and expenses so both sides have a clear picture of the finances.
The paperwork can be confusing, especially when you are unsure which forms you need or what supporting documents to provide. Knowing what California requires can help you avoid missing something that could delay your divorce.
Under Family Code section 2104, both spouses must exchange preliminary financial disclosures.
The required documents include:
The petitioner has 60 days after filing the petition to serve these documents. The respondent has 60 days after filing the response. The spouses can agree in writing to extend the deadline, and the court can allow more time.
These documents are exchanged between the spouses, not filed with the court. Each person files FL-141 to confirm the disclosure was served. The final disclosure may be waived, but the preliminary disclosure cannot.
The court forms list broad categories, but the actual disclosure depends on records such as:
|
Records |
What They Show |
| Tax returns, W-2s, 1099s, K-1s, and recent pay stubs | Income and business activity |
| Bank, credit union, brokerage, and crypto statements | Balances, investments, and transfers |
| Retirement and pension statements | Account value and possible community property |
| Mortgage records and property valuations | Real estate equity |
| Credit card and loan statements | Debts that may need to be divided |
| Business financial statements | Business income and value |
| Date-of-marriage statements | Separate property tracing |
| Insurance, annuity, vehicle title, and payoff records | Cash value and vehicle equity |
Most records can be obtained through online accounts, employers, lenders, plan administrators, tax preparers, or a CPA.
California usually treats property bought during marriage as community property. A spouse who says an asset is separate must show where it came from.
For example, you may have owned a Point Loma condo before marriage. You may also have received an inheritance or a family gift. Records should show when you received the asset and what happened to it later.
Proof becomes harder when separate money is placed in a joint account. It can become even harder when that money is used to buy a jointly titled home.
Start looking for old statements early. Banks may only keep a few years of records online. In a long marriage, the documents you need may take time to find.
Spouses owe each other a fiduciary duty during a California divorce. This includes giving honest and complete financial information.
In “In re Marriage of Rossi (2001) 90 Cal.App.4th 34”, a wife won $1,336,000 through a lottery pool. She filed for divorce soon after and did not disclose the winnings.
The court later awarded all of the winnings to the husband. Family Code section 1101(h) allows this type of result when the conduct involves fraud, oppression, or malice.
List every asset, even if you believe it is separate property. You can state that it is separate and provide records to support that position. If your spouse leaves out records or assets, formal discovery and court action may be available.
The preliminary declaration of disclosure cannot be waived by agreement. The court will not enter judgment until both spouses comply. Only the final declaration may be waived.
Your spouse still has a duty to disclose them. If records are missing or incomplete, you may use formal discovery or ask the court to order production.
You should disclose the inheritance even if you believe it is separate property. Identify it as such and provide records showing where the money or property came from.
The duty to disclose continues while the case is open. A major change in income, assets, or debts may require updated or supplemental forms. Our page on modifying orders after judgment explains how later changes may be handled.
Financial disclosure is part of every California divorce. Both spouses must exchange the required forms and supporting records, generally within 60 days of filing their initial papers.
Gathering tax returns, account statements, business records, and documents showing where assets came from can make the process easier and help avoid delays.
Steven M. Bishop is a Certified Family Law Specialist through the California Board of Legal Specialization and has practiced family law in San Diego for more than 40 years. To discuss your divorce , contact the firm to schedule a consultation.
FILL OUT THE FORM TO
