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Mandatory Disclosures in Divorce
Occasionally, prospective clients will call our office stating they’ve reached an agreement.
“We just need you to draft it up and get it signed.”
Ok, but have you completed your preliminary declarations of disclosures?
What are financial disclosures?
In divorce, legal separation and nullity cases, the law requires you to exchange disclosures.
California Family Code §2103 requires the parties to provide information to each other about their income and expenses, as well as their debts (even if you do not have any!).
This is called financial disclosure. The first disclosure is called “Preliminary Declaration of Disclosure” (Family Code §2104) and is mandatory. Mandatory means, “required by law”, “compulsory”. You cannot skip this step!
The final disclosure, called “Final Declaration of Disclosure”, may be waived by the parties (Family Code §2105) using current form FL-144.
MUST I Do This?
Yes, you MUST do this, even if you two do not have have any assets or debts.
You CANNOT get a final Judgment without completing the disclosure requirements.
If you fail to disclose, you may risk losing ALL of the assets, as Ms. Denise Rossi discovered.
How Do I Get the Forms?
- Hire an Attorney;
- Utilize a Divorce Mediator (this method is preferred!)
- Visit the Self-Help Center at the Courthouse your divorce is venued.