Table of Contents

FL-142: Schedule of Assets and Debts (California)

The FL-142 Schedule of Assets and Debts form is used during divorce proceedings in California to list all known community and separate assets and debts, providing a detailed account of the financial situation for equitable distribution.
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Tips for filling out form FL-142

When completing form FL-142, pay special attention to these less obvious sections:

Item 1

Real Estate Documentation

Make sure to attach copies of deeds with legal descriptions along with the latest lender's statement. This ensures that the property details are accurately represented and prevents disputes related to property ownership during the divorce proceedings.
Item 11

Investment Accounts

Provide certificate numbers for stocks and bonds and attach copies of certificates or the latest statements. This is essential for evaluating the current value and potential financial gains from these investments.
Item 13

Retirement Document Attachments

Ensure that you attach the latest summary plan documents and latest benefit statements for retirement and pension accounts. Details here can affect long-term financial planning post-divorce.
Item 21

Support Arrearages Evidence

When declaring support arrearages, attach copies of support orders and statements. This documentation can substantiate any claims of overdue support payments, which is critical for accurate financial assessment.
Item 23

Credit Card Debt

List each credit card with the creditor’s name, address, and account number, and attach the latest statement. Clearly listing these details helps ensure a clear understanding of outstanding debts and fair debt allocation.
Item 4

Vehicles and Title

For vehicles, boats, and trailers, it's important to attach a copy of the title document. This verifies ownership and the current value of each vehicle, which is crucial for the accurate division of assets.
Item 6

Checking Account Details

When listing checking accounts, include the account name and number, bank, and branch, and remember to attach the latest statement. This will help determine the most accurate status of funds available.

What to do after filing form FL-142

1
Review your FL-150 Income and Expense Declaration form to ensure all information is accurate, as this complements the FL-142 form.
2
Serve your spouse or their attorney with a copy of the completed FL-142 and any attachments, as this form should not be filed with the court.
3
Prepare and file the FL-141 Declaration Regarding Service of Declaration of Disclosure, ensuring you've documented the service of both Preliminary Declaration of Disclosure forms, including the FL-142.
4
Wait to receive your spouse's corresponding FL-142 or FL-150 forms, which will contain their disclosed assets, debts, income, and expenses, for comparison and negotiation purposes.
5
Schedule a meeting with your attorney to review both parties' FL-142 forms and discuss any discrepancies or issues that may require negotiation or further legal action.
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