FL-160 Guidance: Declaration of Assets | Gavel
FL-160 Guidance: Declaration of Assets (California)
The FL-160 form is used in California divorce proceedings to declare and itemize both community and separate property assets and debts, providing a clear proposal for their division between parties involved. This can be used as an attachment to Declaration of Disclosure (FL-140) or you may use Schedule of Assets and Debts (FL-142) instead. Jump to guide on filling it out.
Official FL-160 PDF Download (ca.gov)
When you need form FL-160
In the divorce process, the FL-160 Declaration of Assets form is crucial for delineating the financial landscape of the separating parties; a separate form is needed for community property and separate property. This form is part of the preliminary and final declarations of disclosure (PDDs/FDDs), and it is mandatory that it be filled out and served even when a default judgment has been entered. This form is used to ensure a fair settlement and division of property and debts as part of your divorce proceedings.
- Trigger Events:
- Filing for divorce or legal separation
- Commencing property settlement discussions
- Prior to mediation sessions regarding asset division
It's often preceded by the initial divorce paperwork, such as the FL-100 (Petition for Dissolution of Marriage) or FL-110 (Summons), highlighting the official intent to dissolve the marriage. Proper completion of the FL-160 aids transparency and compliance with mandatory disclosure requirements, integral to achieving a final judgment.
How to file form FL-160
- Identify the type of declaration: Decide between a Community and Quasi-Community Property Declaration or a Separate Property Declaration.
- Complete the Form: Fill out columns A through E on pages 1 and 2, and columns A through C on page 3 as applicable.
- Attach Required Documents: Gather necessary documents like deeds, statements, and titles to support your declarations.
- File with Superior Court: Submit the completed form (without attachments) to the clerk of the Superior Court in the county where the case is filed.
- Serve the Other Party: Provide copies of the form and attachments to the other party as part of the disclosure process.
Tips for filling out form FL-160
When completing form FL-160, pay special attention to these less obvious sections:
Item 10 - Cash Search: For life insurance policies, check if they have any cash surrender or loan value even if not actively used. Contact your insurance provider to get the latest policy statement, which typically includes this information.
Item 12 - Complex Valuation: Calculating the current value of retirement accounts and pensions can be complex due to factors like contribution changes and market fluctuations. Use the latest benefit statement to disclose the most accurate current valuation.
Item 15 - Business Evaluation: When listing partnerships or other business interests, consider having the business professionally appraised to determine its market value. Utilize documents like the latest K-1 or Schedule C to provide accurate financial information.
Item 1c - Estimate Value: When determining the gross fair market value for the real estate section, consider using a recent market analysis or appraisal. This estimate should reflect what you might reasonably sell the property for under current market conditions, not just the assessed value for tax purposes.
Item 23 - Debt Date Importance: Make sure to provide the date the debt was incurred for credit card debts, as this information may impact how the debt is viewed and divided. Consider if the debt was accumulated before or after separation, as that may affect its classification.
Item 3 - Unique Items: For jewelry, antiques, art, and coin collections, provide an estimated fair market value based on recent sales of similar items or appraisals. It may be helpful to attach documentation such as appraisal reports if available.
What to do after filing form FL-160
- Verify the court has received and filed your FL-160 form by checking for any confirmation mail or notifications.
- Prepare to serve copies of the FL-160 and any attachments to the other party involved in the case, if not done already, following California's service requirements.
- Wait for a formal response from the other party, who must typically file a Response to Petition (form FL-120) if they have not done so.
- Consult with your attorney or legal advisor about preparing for a court hearing, if required, based on the timelines provided by the court.
- Gather and organize any additional documentation to support your proposed divisions, such as title documents or account statements, as you may need to present these at any hearings or settlement discussions.
Related Forms
FL-100: Divorce Petition
The FL-100 Divorce Petition form is used in California to initiate the legal process for dissolving a marriage or domestic partnership, seeking a legal separation, or requesting nullity due to specific legal grounds.
FL-110: Summons
The FL-110 Summons form is used when initiating divorce proceedings in California, notifying the respondent of the legal action and setting forth essential information, including the consequences of not responding within 30 days.
FL-105: UCCJEA
The FL-105 UCCJEA form is used in California during child custody cases, often as part of and required to complete divorce proceeding, to declare the child's residential history and identify any existing custody orders.
FL-115: Proof of Service
The FL-115 Proof of Service of Summons form is used in California family law cases to document that the respondent has been properly served with legal documents to commence the action.
FL-117: Notice and Acknowledgement of Receipt
The FL-117 Notice and Acknowledgment of Receipt form is used in California divorce proceedings to document a recipient's acknowledgment of consent to and receiving legal documents related to the case by mail.
FL-141: Declaration Regarding Service of Declaration of Disclosure and Income and Expense Declaration
The FL-141 form must be completed during divorce proceedings in California to declare that a Preliminary or Final Declaration of Disclosure has been served to the other party.
FL-300: Request For Order
The FL-300 Request for Order form is used by individuals seeking the court's intervention to modify or request orders related to child custody, support, visitation, or spousal support in California.
FL-311: Child Custody and Visitation
The FL-311 Child Custody and Visitation form is used when parents or parties involved in a child custody case need to detail arrangements for custody and parenting time.
FL-335: Proof of Service by Mail
Use the FL-335 Proof of Service by Mail form when you need to confirm that you have served court documents to another party by mail in a legal proceeding.
FL-341: Child Custody and Visitation (Parenting Time)
The FL-341 form is used in California when there is a need to outline specific child custody and visitation arrangements.
FL-342: Child Support Order
The FL-342 Child Support Order form is used when a court needs to establish or modify a child support order as part of a legal proceeding.
FL-140: Declaration of Disclosure
The FL-140 form is used in both contested and uncontested California divorce proceedings to provide an accurate and complete disclosure of financial information, including assets and debts.
FL-142: Schedule of Assets and Debts
The FL-142 form is used during divorce proceedings to list all known community and separate assets and debts.
FL-144: Waiver of Final Declaration of Disclosure
The FL-144 form is used during a divorce in California when both parties agree to waive the requirement for a final declaration of disclosure.
FL-145: Form Interrogatories
The FL-145 Form Interrogatories—Family Law are a pre-established set of questions used during divorce proceedings.
FL-150: Income and Expense Declaration
The FL-150 form is used to provide detailed information about a party's financial situation during divorce proceedings.
FL-155: Financial Affidavit
The FL-155 Financial Affidavit form is used for individuals who need to disclose their simplified financial details to the court.
FL-160: Declaration of Assets
The FL-160 form is used in California divorce proceedings to declare and itemize both community and separate property assets and debts.