The FL-142 is the Schedule of Assets and Debts, the comprehensive list of everything you own and everything you owe that California requires as part of your divorce disclosures. Houses, cars, bank accounts, retirement plans, credit card balances, loans, it all goes here. It’s one of the core financial-disclosure documents in a California divorce, and its whole purpose is completeness: a full, honest inventory so both spouses and the court have an accurate picture before property gets divided.
If the FL-142 came up in your case, this guide explains what goes on it, how it’s used, and why leaving things off is a mistake.
Quick note first: California Divorce Pros is a registered Legal Document Assistant service, not a law firm. We prepare divorce forms, including the FL-142, based on the information you provide. We don’t give legal advice. Here’s what this form is about.
Key Takeaways
– The FL-142 Schedule of Assets and Debts lists everything you own and owe.
– It’s a core financial disclosure document, and disclosures are mandatory.
– It’s served on your spouse, not filed with the court (an FL-141 proves you served it).
– Completeness matters, leaving assets or debts off can cause serious problems.
– Both spouses complete one, so each side sees the full financial picture.
What the FL-142 Is For
California requires both spouses to fully disclose their finances in a divorce, and the FL-142 is where the “what we own and owe” part gets laid out. It’s a detailed inventory covering categories like:
- Real estate and the family home.
- Vehicles, boats, and other titled property.
- Bank and financial accounts, checking, savings, investments.
- Retirement accounts and pensions.
- Valuable personal property, furniture, jewelry, and the like.
- Debts, credit cards, loans, and other obligations.
The idea is a complete snapshot of the marital financial estate. Because California divides community property, and because you can’t fairly divide what hasn’t been disclosed, the FL-142 lays the groundwork for the property division that follows. See our guide on property division in California for how that division works.
How It’s Used (Served, Not Filed)
Here’s a point that surprises people: like the other disclosure documents, the FL-142 is generally served on your spouse, not filed with the court. The court doesn’t want your detailed financial inventory in the public case file. Instead, you exchange it with your spouse, and then you file the FL-141 to prove to the court that you served your disclosures. See our guide on the FL-141 for how that proof works.
So the FL-142 does its job privately, between the spouses, while the FL-141 is the receipt filed with the court. Both spouses complete an FL-142, since disclosure goes both ways and each side needs to see the other’s full picture.
Not sure how to inventory everything? Book a free consultation and we’ll help you organize it.
Why Completeness Is Everything
The single most important thing about the FL-142 is that it must be complete and honest. Leaving assets or debts off, whether by oversight or on purpose, can cause real problems:
- Undisclosed assets can reopen the case or be awarded to the other spouse later.
- An incomplete disclosure can get your judgment rejected or delayed.
- Because it’s signed under penalty of perjury, omissions carry consequences beyond a simple paperwork fix.
This is why care matters: gather statements, account details, and debt information thoroughly. It’s tedious, but it’s the foundation everything else rests on, and it’s part of the broader divorce forms picture where thoroughness prevents downstream headaches.
The FL-142 vs. the FL-160
You may also encounter the FL-160 Property Declaration, and wonder how it differs. In short, the FL-142 is the comprehensive Schedule of Assets and Debts, while the FL-160 is a more flexible, multipurpose Property Declaration that can, in some situations, be used in place of the FL-142 for disclosure or attached to other filings. Which one your case uses can depend on your situation, and we’ll prepare the right documents for it.
How California Divorce Pros Helps
We prepare your FL-142 based on the assets and debts you identify, helping you make sure the inventory is thorough and organized so nothing important gets left off. We also prepare the FL-141 that proves you served it, so the whole disclosure step is complete and correct. You provide the information; we make sure it’s presented properly and consistently with the rest of your paperwork. Here’s how our process works.
Frequently Asked Questions
What is the FL-142 form in California?
It’s the Schedule of Assets and Debts, a comprehensive list of everything you own and owe, used as part of California’s mandatory financial disclosures in a divorce.
Do I file the FL-142 with the court?
Generally no. Like other disclosures, it’s served on your spouse, not filed. You file the FL-141 to prove you served it.
What’s the difference between the FL-142 and the FL-160?
The FL-142 is the comprehensive Schedule of Assets and Debts. The FL-160 Property Declaration is a more flexible form that can sometimes be used in place of it for disclosure or attached to filings.
What happens if I leave something off?
Undisclosed assets or debts can reopen the case, be awarded to the other spouse, or delay your judgment. Because it’s signed under penalty of perjury, completeness is essential.
Can California Divorce Pros prepare the FL-142?
Yes. We prepare the FL-142 (and the FL-141 that proves service) based on the information you provide, so your disclosures are complete and consistent.
The Bottom Line
The FL-142 Schedule of Assets and Debts is the complete inventory of what you own and owe, one of the core financial disclosures in a California divorce. It’s served on your spouse (with the FL-141 filed to prove it), and its whole value depends on completeness, because you can’t fairly divide what hasn’t been disclosed, and omissions can come back to bite you.
If you want your disclosures prepared thoroughly and correctly, that’s exactly what we do.
Book your free consultation today → and let’s get your financial disclosures done right.
California Divorce Pros is a registered and bonded Legal Document Assistant service. We are not attorneys, do not provide legal advice or representation, and cannot recommend legal forms or strategy. Document preparation is provided at the direction of the client under California Business & Professions Code §§ 6400 to 6415. For legal advice about your specific situation, consult a licensed attorney.
