San Diego Divorce Lawyers
Disclosure Declarations Issues
When spouses decide to pursue a California divorce, there are several steps that need to be taken in order for the process to be valid and for the court to ultimately dissolve the marriage under California law. One of those steps involves the disclosure of assets that will be divided under the standards set out by California community property laws. Anyone who faces this situation should immediately seek the help of experienced San Diego divorce lawyers, as mistakes made during this step can prove to be costly.
The Nature of Property Disclosure Declarations
The purpose of requiring property disclosure declarations as part of a California divorce is to allow the parties to make a full and accurate accounting of the assets that could be involved in these proceedings. Even if it’s relatively clear that a particular asset would not be part of the marital estate and would be classified as separate property, it will need to be included in the disclosure declarations.
Specifically, these declarations must include a full disclosure of assets, they must be accurate and they must include all assets and liabilities. These declarations must also include assets that may not even be owned by one of the parties yet at the time of the filing, and regardless of a party’s opinion on whether an asset is separate or community property, it must be included in the documentation.
Potential Consequences of Failing to Disclose Assets
When one of the parties to a California divorce fails to disclose even one asset that should be included in this documentation, serious problems can arise. If the other party realizes that an asset has not been included in this documentation, that party could take steps to stall the resolution of the case for a lengthy period of time while new and additional disclosures are ordered.
In addition, if it’s discovered by the court that there are problems with the disclosure statements that are even only technical in nature and not because of the disagreement of the parties, that court has the discretion to disallow the dissolution of the marriage until the issue is clarified and resolved. In addition, when assets are in limbo, they can linger in this state to the point where their value is harmed.
Therefore, if you are about to begin a California divorce and you want to make sure that unnecessary delays do not arise because you overlook something technical that deals with this issue, you need to seek the help of experienced San Diego divorce lawyers to complete these disclosures properly. Contact the Men’s Legal Center today to schedule an initial consultation.