What is a PDD? How do I complete my PDD?
A Preliminary Declaration of Disclosure or PDD is an important part of the divorce process. The PDD is a set of financial information that you provide to the other side and that the other side also provides to you. The exchange of the PDDs ensures that both parties have complete, accurate, and current information about their financial situations. This allows the parties to work towards settlement or prepare for court if an issue is contested.
To complete your PDD, you will need a few forms: FL-140, FL-141, FL-150, and FL-142. These forms can be found on the California Judicial Council Form website – http://www.courts.ca.gov/forms.htm
Form FL-140 is the main form. The others will help you complete the FL-140 and let the court know that you’ve done so.
FL-140 tells you the information you need to provide to the other side: Information about your assets and debts (FL-142), about your income and expenses (FL-150), about the valuation of community property, about community debts, and about income producing opportunities during the marriage, as well as the two previous years of tax returns.
When you’re gathering your information to put together your PDD, please be aware that you will need to gather a lot of documents to complete the included forms. For FL-142 you will need to provide supporting documents for each asset and debt that you list. For FL-150 you will need to have two months of pay stubs.
Once you’ve gathered all the necessary documents, fill out FL-140 and serve all the documents, including FL-140, on the other side.
Then, fill out form FL-141. Form FL-141 is filed with the court to let them know that you have provided all your financial disclosures to the other side.
Have questions about your financial disclosures or the information you received from the other side as part of your divorce? Call Romanovska Law for assistance.