Declarations of Disclosure

Mission Hills, San Diego, North Park, Bankers Hill, Little Italy Divorce Lawyers:

Parties to a dissolution of marriage, legal separation, or annulment proceeding must disclose to their spouse or partner the nature and extent of all marital assets and debts. This is done by completing and serving the Declaration of Disclosure, Schedule of Assets and Debts, and Income and Expense Declaration on your spouse or partner. In order to show the court that you have satisfied this requirement, you must also file a Declaration Regarding Service of Declaration of Disclosure.

Your partner or spouse will have to provide you with the same information. Even if neither of you have any assets or debts, these forms must still be completed and exchanged. The purpose of exchanging these forms is to ensure that both spouses or partners are open and honest with each other concerning important financial aspects that have an impact on the case.

The financial disclosure forms should be completed in two stages: First, the parties must exchange “Preliminary Declarations of Disclosure” which includes a simple list of all community and separate assets and debts, and an Income and Expense Declaration. These should be completed as soon as possible and must be done before a judgment can be entered.

Later, the parties must exchange “Final Declarations of Disclosure” which include a complete list of all assets and debts, when these were acquired, the value of each, and whether the asset or debt is separate or community property. An updated Income and Expense Declaration must also be filed. If both parties agree however, the Final Declarations of Disclosure requirement can be waived in writing and therefore will not be required.

Declarations of Disclosure are very important and often are completed in haste to the detriment of the family law litigant. If proper steps are not taken, a party can be fined, or sanctioned, for failing to disclose relevant information. Therefore, it is best to hire an attorney that is skilled in the preparation of these documents. The attorneys at Wilkinson & Finkbeiner, LLP deal with these disclosures on a daily basis and can help navigate you through this difficult process, as well as discuss the ramifications for your failure or your spouse or partner’s failure to provide relevant information. For more information call our office at (619) 284-4113 to set up your free consultation.

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