How to Complete the Financial Disclosures in a California Divorce (FL-142 and FL-150)
Updated: Aug 30
Whether you divorce on your own or by engaging the services of a mediator or attorney, you and your spouse will most likely be required to complete financial disclosures. These forms include the Schedule of Assets and Debts (FL-142) and Income and Expense Declaration (FL-150).
Unless you have a very simple case, the instructions you find on the Internet will likely leave you frustrated. They just don't go into the kind of detail that most people need in order to complete these forms accurately.
If you need to complete these forms for your California divorce, consider enrolling in the online course, Financial Expert's Guide to Completing FL-142 and FL-150.
The course should answer most of your questions. If you get stuck, and want one-on-one help from a financial expert (a certified divorce financial analyst), you can access that at a discounted rate. This course does not provide legal advice so you may want a California family law attorney to review your work, particularly if you are concerned about separate vs. community property or valuation of a business.
Laurie Itkin is a financial advisor, wealth manager, and certified divorce financial analyst (CDFA). She is also the author of the Amazon best-seller, Every Woman Should Know Her Options: Invest Your Way to Financial Empowerment. In both 2017 and 2018 Investopedia named Ms. Itkin one of the top 100 most influential financial advisors in the country. Through her financial consulting company, The Options Lady, she provides divorce-related financial planning and analysis to individuals and couples throughout all stages of the divorce process, with a specialty in California divorces. She is a member of the Association of Divorce Financial Planners (ADFP) and is certified by the Institute for Divorce Financial Analysts (IDFA). Laurie has been quoted in the New York Times, Wall Street Journal, Chicago Tribune, and San Diego Union Tribune. She has also appeared as a guest on broadcast news channels.