How to Fill Out the Schedule of Assets and Debts (California Divorce)

California requires this form from anyone wanting a standard California divorce. Find out how to get the form for free and how to fill it out.

Difficulty: Moderate

Instructions

1. 
    
   ASSET

   Before you can get a standard California divorce, you must fill out a form called Schedule of Assets and Debts. It is called Form Fl-142.
   
   This form is available for free from
   http://www.courtinfo.ca.gov/forms/allforms.htm
   
   This form is used as part of the Preliminary and Final Declaration of Disclosure.
   
   When you are filling this form out as part of the Preliminary Declaration of Disclosure, you do NOT have to fill in any of the columns except the columns asking for a description of the assets and a list of the debts owed.

2. 
    
   DEBT

   This form requires all the information YOU have about real estate, household furniture, jewelry, antiques, art, coin collections, vehicles, boats, trailers, savings accounts, other deposit accounts, cash, tax refunds, life insurance with cash surrender value or life insurance loans, stocks, bonds, secured notes, mutual funds, etc.
   
   You should list any assets and debts YOU or YOUR SPOUSE have, whether or not these items are community property, separate property or mixed property, meaning a mixture of community property and separate property.
   
   If you don't know details about any asset or debt because ONLY your spouse knows about the asset or debt, you can add, "Known only to my spouse". Or if you just DON'T KNOW, add "Unknown".
   
   Be sure to attach any documentation the form requests. For example, a copy of the latest credit card statements.
   
   When you are filling out this form to attach to your Final Declaration of Disclosure, you must fill out all the columns. Although the form asks for an actual date when you acquired an asset or a debt, I have been successful in identifying that date as either:
   
   1. Before marriage.
   
   2. During marriage.
   
   3. After the date of separation.

3. If you can't fit all the information into the form, you can add an attachment. How?
   
   1. Get a blank piece of 8.5 x 11 white paper (the same size as the form).
   
   2. Put this title on the top left of the form and the bottom middle of the form, "Petitioner's (or Respondent's) Schedule of Assets and Debts, Case Number: (put in your court case number) Continuation Sheet" For each item you put on the Continuation Sheet, type in "Continuation of Item __" so it relates back to the actual category on the Schedule of Assets and Debts form. Your goal is to make it absolutely clear what your are listing on your Continuation Sheet.
   
   
   3. On line 17 of the Schedule of Assets and Debts put in the total gross fair market value and the amount of money owed or encumbrance of any asset listed on the Continuation Sheet.
   
   4. On line 25 of the Schedule of Assets and Debts put in a total owing of any debt listed on the Continuation Sheet.
   
   5. On line 27 of the Schedule of Assets and Debts check the box and type in the number of pages that Continuation Sheet has.

4. 
    
   HELP IS AVAILABLE!

   When you are listing the gross fair market value of assets, understand that what the court wants is the price you could sell the asset for TODAY in an open market. Don't guess. If the item is valuable, you may need to get a professional appraisal of it.
   
   If you have acquired any item during marriage that you believe is SEPARATE PROPERTY, put an asterisk next to the item and briefly tell the court the facts that support your position.

5. Don't be discouraged! Help is available:
   
   1. Your county law library can help YOU find books to tell you all about these forms plus they know resources in your community to help you.
   
   2. Every county has a Family Law Facilitator who MAY be able to help you fill out this form for FREE. Go to:
   http://www.courtinfo.ca.gov/selfhelp/lowcost/flf.htm
   to find the office near you.
   
   3. You can also get help from the California Courts Self-Help Center at:
   http://www.courtinfo.ca.gov/selfhelp/forms/
   
   4. You could "hire" a family law attorney to assist you with these forms without having them take over the entire case. This is called Limited Scope Representation. You can then buy legal advice and assistance on a pay-as-you-go plan.
   
   As many more couples in California are doing "do-it-yourself divorces", more and more resources will become available to them! You are NOT alone!

Tips & Warnings

• This article is NOT intended to take the place of legal advice. If you need legal advice, please see a family law attorney in your county.
• The law changes and this form can also change. This article was written in August, 2009. It may NOT be accurate in the future.