Whether your divorce is contested or uncontested, at least one spouse will be required to complete financial disclosures. In this article, we describe the financial disclosure process and provide a reference list of everything each spouse must disclose. Read on to learn more.
California family law courts require mandatory financial disclosures between parties in all divorce cases. These disclosures are intended to make settlement negotiations easier by providing transparency regarding the marital estate’s assets and debts. Read on to learn more about how to prepare the mandatory financial disclosures and which disclosures can be waived in a California divorce.
In California, financial disclosures in divorce are required to complete the divorce process. For example, the Petitioner must file a Preliminary Financial Disclosure within 60 days of filing for divorce. This is one of two financial disclosures in divorce that are usually necessary.