Yes, you must fill out California FL-142 in nearly every divorce or legal separation case unless the court says otherwise. This Schedule of Assets and Debts is a required disclosure form that lists what you own and owe.
According to a 2024 California court report, over 90% of divorces include this detailed financial disclosure (California Family Law Report, 2024). It ensures both spouses are honest about the marital estate. In this guide you will learn:
- 📝 Step-by-step instructions to fill out FL-142 accurately
- ❌ Common mistakes to avoid when listing your assets and debts
- 🏠 Real-life examples (freelancer, homeowners, hidden assets) of filled-out FL-142
- 📚 Key terms and forms explained (community property, disclosure, etc.)
- ⏰ Important deadlines and tips to stay on track with your divorce paperwork
📝 Step-by-Step: Completing Your FL-142
- Gather your documents. Collect recent statements, deeds, titles, appraisals, and bills for all property and debts. Bank records, pay stubs, and tax returns help estimate values. This ensures accuracy and evidence for each item you list.
- Fill in case info. Write your name (petitioner), your spouse’s name (respondent), and your case number at the top. If you are the respondent, label yourself accordingly. The form heading must match your divorce petition details.
- **List each asset category. Using the item numbers on FL-142, describe what you own in each section. For example, under Real Estate, give addresses and attach copies of deeds. Under Vehicles, list make/model and attach titles. In Other Assets, include things like business tools or investments not covered above. Be thorough – the instructions say to list all known assets, even those held by someone else (like joint property or inherited gifts).
- Value assets and mark property type. For each asset, enter the acquisition date, current fair market value, and any loan balance. Use an appraisal or statement for values if possible. In the SEP. PROP. column, mark P or R if you claim it as separate property (owned before marriage or by gift/inheritance). Otherwise leave it blank for community property. For example, your pre-marriage savings account might be marked P, while your joint checking account stays blank.
- List debts. Move to the debts section (Items 19–26) and describe each liability. Include mortgages, car loans, credit card balances, taxes owed, student loans, etc. Note the creditor name and the amount owed. Attach latest statements to verify balances. Label any debt as P or R in the same way if one spouse is solely responsible.
- Add totals and sign. If you needed more space, attach a continuation sheet (Form FL-142(A)) and include those totals on line 17 or 25. On line 18 and 26, sum all assets and debts you listed. Double-check your math. Then sign and date FL-142 under penalty of perjury. Your signature certifies everything is true and complete.
- Serve the form. Once completed, serve FL-142 (with FL-140 Declaration of Disclosure) on your spouse by mail or in person. You do not file FL-142 with the court – the court only needs the proof of service (Form FL-141). Keep copies of everything. Following these steps carefully will help ensure you fill out FL-142 correctly and avoid delays.
🚫 Avoid These Common FL-142 Mistakes
- Omitting items: Many people forget small assets like gifts, digital currencies, or leftover cash. Always list anything of value. Even a few hundred dollars or a second car matters. Write “none” or $0 for categories that truly have nothing.
- Wrong property designation: Mislabeling community property as separate (or vice versa) can cause disputes. If you acquired something during marriage, it’s likely community property. Mark “P” or “R” for separate items only if you clearly owned them before marriage or by gift/inheritance.
- No supporting documents: Skipping attachments is a big error. Courts expect proof. If you list a bank account, attach the statement. If you list a home, attach the deed and latest mortgage statement. Without evidence, your entries are weak.
- Outdated values: Do not use old estimates. Use current fair market values (as of signing date) and recent payoffs. If values change later, update your disclosure. Consistency is key – list the same values on FL-142 and FL-150 (if used) to avoid confusion.
- Calculation errors: A simple arithmetic mistake in your totals can raise red flags. Re-add columns and double-check each entry. An error can delay your case or worse, lead the court to mistrust your entire form.
Below is a quick comparison of the pros and cons of completing a thorough FL-142 disclosure:
| Pros | Cons |
|---|---|
| 🎯 Ensures full financial transparency and fairness in property division | 😓 Detailed form can be time-consuming and complex |
| 👍 Uses a standardized format recognized by courts | ⚠️ Complexity increases risk of mistakes if rushed |
| 🛡️ Protects your interests (full disclosure shows honesty) | 📑 Requires gathering and organizing many documents |
| 🤝 Builds trust (good faith in negotiations) | 🔍 Reveals all personal financial details to your spouse |
| ✔️ Mandatory in most cases (avoids court sanctions) | 📚 If you’re unsure, you may need professional help |
📊 FL-142 Examples in Action
To see how FL-142 might look, here are three common scenarios with example entries. In each table, the left column notes the type of asset or debt and the right shows a sample FL-142 entry. (These are illustrative only.)
Self-Employed Freelancer
A freelance consultant filing for divorce must list both personal and business-related assets. Below is a simplified FL-142 example for a sole proprietor:
| Asset or Debt | Example Entry |
|---|---|
| Real Estate (Item 1) | Rents apartment (no real estate owned) |
| Checking Account (Item 6) | Chase Personal Checking – $2,000 (Petitioner’s separate property) |
| Savings Account (Item 5) | Emergency Fund at Local Bank – $5,000 (separate property, saved pre-marriage) |
| Business Equipment (Item 16) | Laptop & studio camera – FMV $3,000 (attached list of equipment) |
| Accounts Receivable (Item 14) | Unpaid invoices from freelance clients – $1,200 |
| Retirement (Item 12) | IRA – $10,000 (Petitioner’s separate retirement account) |
| Vehicle (Item 4) | 2019 Toyota Camry – FMV $15,000; Loan balance $5,000 |
| Credit Card Debt (Item 23) | $6,000 Visa (joint credit card, community debt) |
| Business Loan (Item 22) | $8,000 remaining on small business line of credit (community debt) |
Joint Homeowners with Debt
A married couple owns a home and a car, and both have some debt. This example shows their combined entries:
| Asset or Debt | Example Entry |
|---|---|
| Real Estate (Item 1) | Family Home, 123 Oak St (community) – Acquired 2010; FMV $600,000; Mortgage $350,000 |
| Furniture (Item 2) | Living room furniture (community) – FMV $5,000 |
| Vehicle (Item 4) | 2015 Honda CR-V (community) – FMV $12,000; Loan $8,000 |
| Savings Account (Item 5) | Joint Savings – $10,000 |
| Checking Account (Item 6) | Joint Checking – $3,000 |
| Retirement (Item 12) | 401(k) Plans – Petitioner: $20,000; Respondent: $15,000 |
| Credit Card Debt (Item 23) | $12,000 on joint credit cards (community debt) |
| Auto Loan (Item 22) | $8,000 car loan on Honda (community debt) |
Hidden Asset Scenario
In some divorces one spouse may secretly own additional assets. The table below illustrates an example FL-142 where certain assets are not initially disclosed:
| Asset or Debt | Spouse’s FL-142 Entry (Hides Assets) |
|---|---|
| Jewelry/Collectibles (Item 3) | Omitted (declared $0; actual hidden $5,000 gold necklace in storage) |
| Savings Account (Item 5) | $2,500 (Petitioner’s account – fully disclosed) |
| Business Interest (Item 15) | Omitted ($0 declared; actual hidden consulting business valued at $10,000) |
| Retirement (Item 12) | $12,000 in spouse’s IRA (disclosed) |
| Other Debts (Item 24) | $1,500 (personal loan, disclosed) |
| Credit Card (Item 23) | $5,000 on Visa (disclosed) |
Note: Hiding assets on the disclosure is risky. If a hidden item is later discovered, the court can impose sanctions or award the full value of that asset to the other spouse. Always be honest – it’s better to disclose everything up front.
🔍 Key Terms & Related Forms Explained
- Petitioner / Respondent: The petitioner is the spouse who filed for divorce or legal separation. The respondent is the other spouse. Both must complete disclosures unless one party defaults on the case.
- Community vs. Separate Property: Community property refers to assets and debts acquired during the marriage (equally owned). Separate property is what you owned before marriage or received individually (e.g. gifts, inheritances). FL-142 requires marking (P/R) separate items.
- Declaration of Disclosure (FL-140): A cover form that accompanies FL-142. It is a simple statement under oath that you exchanged all required financial docs with your spouse. It is signed and served together with FL-142.
- Income and Expense Declaration (FL-150): A related form detailing current monthly income and expenses. This is not FL-142, but often filed in parallel. It supports calculations for support and living costs.
- Property Declaration (FL-160): An alternate property disclosure form. It is simpler (one column) and can be used early in the case. However, FL-142 (two-column) is more detailed and typically used for final disclosures.
- Proof of Service (FL-141): After serving FL-142 on your spouse, you fill out FL-141 to certify that service. You file FL-141 with the court clerk – it’s the only disclosure document the court needs. FL-142 itself is not filed with the court.
- Fair Market Value (FMV): The price an asset would sell for under normal conditions. FL-142 asks for each asset’s FMV as of the date you sign. You should base FMV on appraisals, statements, or reasonable estimates.
- Judicial Council Form: FL-142 is a standard form approved by the California Judicial Council. You must use this official format. Up-to-date versions (2025) are available on the California Courts website.
- Continuation Sheet (FL-142(A)): If you run out of space on FL-142, use the optional continuation sheet. Number each additional entry to match the item on the main form.
📑 Attaching Proof: Documenting Your FL-142 Claims
When you list an asset or debt on FL-142, back it up with documents. For example:
- Real estate: Attach a copy of the deed or title and your latest mortgage statement. If you don’t have a recent appraisal, use the county tax assessment or market estimates, and note the source of value.
- Bank accounts: Attach recent statements showing account balances. Ideally use statements within the last 30 days. If you are mid-month, pro-rate or use the last statement and note the date.
- Vehicles: Attach the vehicle title or registration and most recent loan payoff or statement. Use Kelley Blue Book or dealer values if needed for FMV.
- Retirement/Investments: Attach the latest 401(k), IRA, or brokerage account statements. These show current values. Include any information on vesting or penalties.
- Personal property: For jewelry, art, or collectibles, attach appraisals if available. Otherwise give a detailed description and best estimate value.
- Debts: Attach the latest statements for credit cards, loans, taxes, etc. For each debt, note the creditor, account number, and balance.
If you lack direct documents, provide the best reasonable estimate and explain in the description. For example, you might write “FMV approximately $5,000 based on recent sale of similar item” in Item 3.
Serving evidence: You do not file these attachments with the court. Instead, send copies to your spouse along with FL-142 (as part of your Declaration of Disclosure packet). That means your spouse gets all the evidence supporting your entries. Keep the originals for your records.
Updates: If the value of an asset changes significantly after you’ve served FL-142 (before the divorce is finalized), you should update your disclosures. In practice, you would prepare a final declaration of disclosure with any updated FL-142 entries and re-serve them at least 30 days before trial.
⚖️ Federal vs California Rules on Asset Disclosure
Divorce and property division are governed by California state law, not federal law. California is a community property state, meaning most assets and debts acquired during marriage are split 50/50 by default. This is different from many other states, which use equitable division. FL-142 follows California’s rules, which come from the Family Code (Sections 2100–2113 cover disclosures).
Federal law mainly affects how assets are handled for tax and retirement purposes. For example: if you split a 401(k) in divorce, you typically use a QDRO (Qualified Domestic Relations Order) under federal ERISA rules to transfer funds tax-free. Splitting an IRA also has IRS guidelines (the transfer is generally tax-free if done by court order). These federal rules do not change how you list the asset on FL-142 – you still report the total value. They just affect how the asset is transferred after divorce.
Another federal matter is taxes. The IRS does not require FL-142, but it does care about how assets are reported on tax returns. For example, selling a home or transferring a stockbroker account may have capital gains consequences.
In short: State law decides who gets what, and federal law handles taxes and pensions. When you fill out FL-142, focus on California definitions (community/separate, FMV). At the same time, be aware that later tax filings or retirement transfers might need the valuations and allocations you documented here.
👥 Who, What, and When: People, Agencies & Timelines
- You (Petitioner/Respondent): As a party, it is your responsibility to prepare FL-142 accurately. If you have an attorney or mediator, they will review your disclosures but ultimately you must sign and certify them.
- Family Law Court (Superior Court): Each California county’s Superior Court handles divorces. Judges expect full disclosures. If you attend a trial or settlement hearing, they will rely on FL-142 to understand your finances. The court clerk processes the filings (proof of service, settlement documents, etc.) but does not judge the accuracy of FL-142 (that’s the judge’s role).
- Judicial Council & Self-Help: The California Judicial Council provides the FL-142 form and instructions. Local family law facilitators and court self-help centers can assist people without attorneys to understand how to fill out these forms. They can answer questions about the process (though not give legal advice on your case).
- Family Law Facilitator / Legal Aid: In many counties, a Family Law Facilitator’s office can help pro se litigants (those without attorneys) prepare and serve disclosure forms like FL-142. Non-profit legal aid organizations might also offer guidance on gathering documents and meeting deadlines.
- Deadlines: California law sets strict timelines for financial disclosures. Preliminary disclosures (FL-142 with FL-140, FL-150, etc.) must be served within 60 days of serving the petition for divorce or legal separation. You can serve them at the same time as the petition or mail them later, but not past 60 days.
- Final Disclosures: If your case goes to trial or contested hearing, final disclosures (another round of FL-142 and related forms) must be served at least 30 days before trial, or 45 days before if there are minor children. These rules are in Family Code §2105. The court will generally expect all updated info by these deadlines.
- If Deadlines Are Missed: If you fail to serve FL-142 on time, the other party can ask the court to enforce compliance. Judges can impose sanctions, or even bar witnesses or evidence if one side didn’t follow disclosure rules. Never assume you can skip it. Keep track of dates and serve on time.
- Proof of Service: After you mail (or hand-deliver) FL-142 to your spouse, fill out form FL-141 Proof of Service. This form (with a copy of what was served) is filed with the clerk. It documents when and how you gave the disclosures to your spouse.
Adhering to these roles and deadlines will keep your case moving smoothly. The key is timely, honest disclosure.
Frequently Asked Questions
Is FL-142 required in every California divorce? Yes. California law requires both spouses to exchange full financial disclosures (including FL-142) in nearly all divorce or separation cases. Only if the court explicitly excuses disclosure or in rare default cases would FL-142 not be served.
If we have almost no assets, do we still file FL-142? Yes. Even with minimal assets or debts, each spouse must file FL-142 listing none or zero values where applicable. This formal “nothing to report” disclosure avoids claims of hiding assets later.
Can I serve FL-142 any time I want? No. By law, preliminary disclosures (like FL-142) must be served within 60 days of serving the divorce petition. You cannot wait indefinitely. If you serve it with your petition, that deadline shifts. Final disclosures have their own 30-day/45-day-before-trial rule.
Are retirement accounts listed on FL-142? Yes. All retirement and pension accounts go on FL-142 (Items 12 and 13). Report the current gross cash value of each account. Include IRAs, 401(k)s, 403(b)s, pensions, profit-sharing, etc., and attach the latest statements.
Can I file FL-142 electronically or email it? No. FL-142 must be served on your spouse in person or by mail (as part of the Declaration of Disclosure package). You do not file the actual FL-142 with the court. You only file the Proof of Service (FL-141) to show you served it.
What if I find a missing asset after I served FL-142? Yes. You should correct it. Prepare an amended or supplemental disclosure immediately, then serve it on your spouse. Under Civil Code §2106, you must update disclosures before the divorce is final. It’s better to fix omissions early than to let them cause trouble later.
Is it OK to guess the value of an asset? No. You should provide a reasonable estimate of fair market value. If you don’t have a precise figure, explain how you estimated it (for example, using an online appraisal or bank statement). Guessing wildly can backfire – use the best information you have.
Does FL-142 list debts too? Yes. FL-142 covers both assets (Items 1–18) and debts (Items 19–26). Mortgages, loans, credit cards, taxes owed, student loans, support arrears, and other liabilities are listed under “Debts.” Don’t forget to include loans or bills your spouse owes too if they affect the community estate.
Can the court waive the requirement to file FL-142? No. The court rarely waives disclosure. The only time FL-142 might not be exchanged is in a default scenario where one spouse never responds and the court enters judgment without further hearings. Otherwise both parties must use these forms.
Does FL-142 determine who gets which assets? No. FL-142 simply reports assets and debts. It does not split them. The judge or settlement agreement decides who gets what. FL-142 provides the factual basis (values and ownership claims) for making that decision, but it is not itself the divorce decree.
If I make a mistake on FL-142, will I be penalized? Yes. Material errors or omissions can lead to problems. A judge could delay your case, order the other side to reopen discovery, or even sanction you. However, if you catch a mistake yourself, promptly correct it and re-serve the disclosure.
Is FL-142 confidential? No. FL-142 is generally a public court record (like most divorce filings). Spouses receive copies, and anyone can request them. Only rarely will a judge seal financial info. Assume the values you list could be seen by others (except for sensitive attachments, which you usually keep private).
Related reading
- How to Fill Out California FL-100 (w/Examples) + FAQs
- How to Fill Out California FL-141 (w/Examples) + FAQs
- How to Fill Out California FL-160 (w/Examples) + FAQs
- How to Fill Out California Form FL-140 (w/Examples) + FAQs
- How to Fill Out California Form FL-141 (w/Examples) + FAQs
- How to Fill Out California Form FL-160 (w/Examples) + FAQs
- How to Fill Out California Form FL-120 (w/Examples) + FAQs