Preliminary Disclosure Documents
As a general rule, Preliminary Disclosure documents are required in Dissolution proceedings. The Preliminary Disclosure Documents include your Income and Expense Declaration and Schedule of Assets and Debts or Property Declaration. You will also need to complete a Declaration of Disclosure and produce your last two years of taxes. Last, but not least, all documents need to be served on the opposing party or the opposing party’s Attorney. For your convenience, here are PDF’s of the documents:
Brief overview of documents needed to complete your Income and Expense Declaration
Your Income and Expense Declaration sets forth your income and monthly expenses. This document can take time and may require attachments to support your responses. Here are some documents you may need to complete this document:
- Pay stubs for the last three months
- Last years W-2
- 1099 or K-1 (if applicable)
- Current Profit and Loss for business owners and those with rental property
- Last years Schedule C for business owners
- Mortgage statement showing principle, interest, and taxes. If you do not have an impound account, you will need your property tax bill
- Statements for monthly payments on vehicles, credit cards, and other debts.
Brief overview of documents needed to complete your Schedule of Assets and Debts
Your Schedule of Assets and Debts set forth your assets and debts, both community and separate. This document should be a complete picture of your finances. Here are some documents you may need to complete this document:
- Mortgage statement if you own a home
- Year, Make, Model, and Mileage for any vehicle. (TIP: Once you have this information, run your own Kelly Blue Book to estimate the value)
- Recent Bank statements
- Investment Account statements
- Life Insurance policies (TIP: Once you have this policy, you will need to determine whether it has a cash value. Most Term life insurances DO NOT, but double check your documents)
- Business taxes—i.e. Schedule C, K-1, Corporate return
- Tax Debt
- Credit Card statements showing balance
- Other debt showing the balance
OR, if you have a straight forward financial picture, you may want to complete a Property Declaration. There are two types of Property Declarations
- Property Declaration-Community and Quasi Community: This document should include all assets and debts of the marriage. The date of marriage to date of separation is the timeframe this particular document covers. See the tips for the Schedule of Assets and Debts and use these tips as a guide.
- Property Declaration-Separate Property: This document should include all assets and debts BEFORE the marriage, received during the marriage by gift or inheritance, and AFTER the date of separation.
Once you have completed the financial documents, you will need to serve on the other party, or other party’s Attorney, then complete a “Declaration Regarding Service of Declaration of Disclosure and Income and Expense” and file this document with the Court.
How can we help you?
We have completed basic Disclosure Documents as well as complex Disclosure Documents. If you need assistance, please give our office a call. These documents are among the most important since they set forth your entire financial picture. Also, your Income and Expense will be utilized by the Court to determine your income and deductions for Child and Spousal Support Orders.