How do I complete the California financial-disclosure forms FL-142, FL-150 and FL-160?

Short answer: Use the current Judicial Council instructions and complete the forms from your actual records, not estimates copied from a calculator. FL-150 reports income and expenses. FL-142 lists assets and debts in a dissolution disclosure package. FL-160 is used to identify and characterize property in a property declaration. The exact forms, attachments, service, and timing depend on the case and current California procedure. A disclosure is served on the other party; it is not necessarily filed with the court unless a rule or order requires filing.

Prepare before opening the forms

Gather recent pay stubs, tax returns, benefit statements, bank and brokerage statements, retirement records, credit-card and loan statements, mortgage information, vehicle titles, business records, insurance, and documents for inheritances or gifts. Make a list of real property, securities, accounts, businesses, retirement, valuable personal property, and debts. Note account ownership and approximate values as of the relevant date.

Use the official form version and read its instructions. Save a working copy, but do not alter questions or remove pages. If an answer does not fit, follow the instructions for an attachment and identify the form and item number. Keep a secure copy of what you served and the date of service. Review financial disclosure and discovery for record-building and follow-up.

FL-150: income and expense declaration

FL-150 is designed to show income, deductions, expenses, assets, and support-related information. Report employment, self-employment, commissions, bonuses, benefits, investment income, support received, and other sources as the form requests. If income fluctuates, explain the pattern and provide records rather than selecting a number that makes the case look simpler.

For self-employment or business income, identify gross receipts, ordinary business expenses, distributions, and personal expenses paid by the business as instructed. Do not treat gross revenue as personal income, and do not omit a business merely because the other spouse knows it exists. Attach the required supporting documents and explain unusual changes, seasonal income, or a recent job loss.

Expenses should reflect actual household needs and the form’s categories. Distinguish monthly expenses from annual or irregular costs and state when a number is estimated. Do not inflate expenses to obtain leverage, but do not omit medical, child-care, insurance, housing, debt, or other material costs. Sign under penalty of perjury only after checking the completed form.

FL-142: schedule of assets and debts

FL-142 organizes the asset and debt inventory. Identify the item, approximate value, account or identifying information permitted by the form, date acquired, and characterization as community, quasi-community, or separate where requested. Include assets held in one spouse’s name, jointly, through a business, trust, exchange, or another person if a legal or beneficial interest may exist.

For debts, list credit cards, loans, mortgages, tax liabilities, student loans, business debt, and other obligations. A debt in one spouse’s name is not automatically separate, and a joint account is not automatically community in every circumstance. Describe the item accurately and use an attachment when the form’s space is insufficient.

Do not guess a value when records are available. Use a statement, appraisal, payoff quote, or reasonable estimate and identify the source and date. For a business, retirement account, securities account, or digital asset, preserve the records supporting ownership and valuation. See property division for characterization and tracing issues.

FL-160: property declaration

FL-160 provides a more detailed property-by-property declaration when required. Follow the form’s instructions for community, quasi-community, and separate property columns. State the asset description, date acquired, gross value, debt, net value, and proposed characterization or division as requested. Do not use “separate” merely because an account is in one name; identify the facts supporting that position.

Mixed assets need explanation. A premarital account may receive community deposits. A home may involve a separate down payment and community principal reduction. A retirement account may have premarital, marital, and post-separation periods. Attach a tracing schedule or other documentation when necessary. A form can report a position; it does not prove the position by itself.

Service, signatures, and common mistakes

Read current instructions about whether a disclosure is preliminary or final, what must be exchanged, what may be waived, and how service is documented. Do not assume that filing a form with the court completes service. Use a lawful service method and retain proof. Redact information as required by current rules and protect account numbers and children’s private information.

Common mistakes include leaving out a low-balance account, reporting only one spouse’s name, confusing value with equity, omitting a loan, mixing monthly and annual numbers, failing to explain a business, copying an old form, and signing before attachments are complete. Correct an error promptly and ask counsel whether an amended disclosure, supplemental production, or other step is required.

What if the other disclosure is incomplete?

Compare the forms against tax returns, statements, loan applications, business records, and known property. Make a focused list of missing documents and inconsistencies. Formal discovery may be appropriate, including requests for production, interrogatories, depositions, or subpoenas. Do not access an account unlawfully or alter records. A suspicion is not proof of concealment, but a material inconsistency should not be ignored.

Completion checklist

  • Download the current FL-142, FL-150, and FL-160 and instructions.
  • Build an asset, debt, income, and expense inventory first.
  • Use records and identify dates, ownership, values, and characterization.
  • Explain fluctuating income, mixed property, business interests, and estimates.
  • Attach required schedules and preserve a complete served copy.
  • Review privacy, signature, service, and deadline requirements.
  • Obtain legal advice before waiving final disclosures or signing an agreement based on incomplete information.

Accurate forms make later settlement and court review more reliable. They do not require certainty about every disputed value, but they do require candor, reasonable investigation, and clear identification of what remains disputed.

How to handle an uncertain value

If the value of a home, business, retirement account, vehicle, or digital asset is disputed, identify the date and method used for the estimate and state that it is disputed. Do not use a zero merely because the value is unknown. Do not use a favorable number simply because it reduces the apparent community estate. A payoff statement, appraisal, account statement, valuation report, or tracing schedule may be needed later.

Keep attachments organized by form and item number. Use a separate index when production is large, and protect account numbers and private identifiers as the current rules require. If a disclosure is amended, keep the earlier version and record what changed. That history can be important when a later dispute concerns notice, omission, or the timing of a correction.

When spouses are negotiating, exchange enough information to understand the bargain. A signed agreement made without material financial information may create avoidable risk. Ask whether final disclosures may be waived, whether the waiver is permitted, and what records should be reviewed before signing.

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