Forms & Paperwork
How to Fill Out Form FL-142 (Schedule of Assets and Debts)
Quick answer
Form FL-142 is a mandatory financial disclosure form in a California divorce. You must list every single asset and debt you own — both community and separate property — along with their current values and the exact amount of debt attached to them. You must also attach documentary evidence, like bank statements and deeds, to prove the numbers you write down.
Of all the forms required in a California divorce, the FL-142 (Schedule of Assets and Debts) is usually the one that causes the most anxiety. For the complete list of California divorce forms, see our master checklist. The FL-142 is also where California's community property rules meet your real-world balance sheet.
It is a four-page financial colonoscopy. California law requires "full and accurate disclosure of all assets and liabilities" during a divorce. If you intentionally leave an asset off this form, the judge can award 100% of that hidden asset to your spouse as a penalty.
Understanding the Columns
- Description of Asset/Debt: Be specific — "Bank of America Checking Account ending in #1234."
- Sep. Prop (Separate Property): Check this box only if you believe the asset or debt belongs 100% to you.
- Date Acquired: When you bought the asset or opened the account.
- Current Gross Fair Market Value: What the asset is worth today. Do not subtract the loan amount here.
- Amount of Debt: What you currently owe on this specific asset.
What to Include (and What to Attach)
Real Estate (Item 1)
List all homes, land, or commercial properties you own. Attach: a copy of the deed and the latest mortgage statement.
Bank Accounts (Items 4, 5, 6)
List every checking, savings, and credit union account, even if the balance is $0. Attach: the most recent statement for every account.
Retirement and Pensions (Items 9, 10)
List all 401(k)s, IRAs, and pensions. Attach: the most recent summary plan document or account statement.
Vehicles (Item 11)
List all cars, boats, and motorcycles. Use Kelley Blue Book for fair market value. Attach: the title or registration and the latest auto loan statement.
Credit Cards and Unsecured Debt (Item 19)
List every credit card carrying a balance, personal loans, and student loans. Attach: the most recent statement for every single account.
Do Not File the FL-142 With the Court
This is the most common mistake DIY filers make.
You do not file the FL-142 at the courthouse.
This form contains your bank account numbers and a complete map of your financial life. Court records are public. Instead, you serve the FL-142 directly on your spouse along with the Income and Expense Declaration (FL-150). To prove you did it, you file FL-141 (Declaration Regarding Service of Declaration of Disclosure).
The FL-142 vs. The FL-160
In some simple cases, you can use the FL-160 Property Declaration instead. The FL-160 is slightly less detailed and does not explicitly require you to attach all the bank statements. However, the FL-142 is the gold standard and protects you from future claims that you hid assets.
Skip the spreadsheet wrangling — start your California divorce packet and we'll generate the FL-142 from the answers you already gave us.
Frequently asked questions
What happens if I forget to list an asset on the FL-142?
Do I have to list my spouse's separate property?
What happens after disclosures are done?
DivorceFastCA provides self-directed document preparation services at your specific direction. We are not a law firm and cannot provide legal advice. If you have complex assets, business interests, or a contested custody dispute, consult a licensed California family law attorney.
