Completion of the Preliminary Declaration of Disclosure In Placer County

by | Sep 27, 2013 | Firm News |

In every Placer County divorce case, the parties must complete and serve a Preliminary Declaration of Disclosure (or PDD).  The Placer County family court will not set a case for trial or enter any written settlement agreement unless each party to the Placer County divorce case has served their PDD on each other and each party has filed a copy of the proof of service with the court.

Parties to a Placer County divorce need to list asset and debt they can recall in their case.  All community property and separate property must be listed with fair market values as of the date the parties announced their separation.  The parties should include a statement of account/value for each asset and debt (whether community property or separate property) as of the date they separated.  If you know that your spouse acquired an asset or debt, but are unsure of the value, you can estimate the value or balance due in your PDD.  It is your spouse’s obligation to fully disclose what they know about their assets and debts.  For smaller value items like furniture, furnishings, household goods and clothes, you can go on a room by room basis in the home and estimate values based upon garage sale/eBay/Craigslist prices.  The Placer County family court takes disclosure very seriously and failure to properly disclose all assets and debts

Parties to a Placer County divorce need to also list all of their income sources and their monthly expenses.  This includes any business or investment opportunities that are available to either party.  The Placer County family court takes disclosure of assets, debts, income and expenses very seriously.  Failure to properly disclose all assets and debts, income or expenses can result in serious legal consequences such as setting aside of your marital judgment, awarding of assets or debts in a manner disfavorable to your case, or even criminal prosecution if you commit perjury.

If you are involved in a Placer County divorce case, we recommend you talk to our Placer County divorce attorneys to help you prepare your PDD.  We can help you organize your documents and address your assets and debts and income and expenses.  Call us today for your free half hour consultation.