When starting a divorce, there will be forms and documents you will need to complete and sign. One of those forms is called a Preliminary Declaration of Disclosure (PDD). The PDD is used to provide full and accurate disclosure of all assets and liabilities in in the marriage. It’s called preliminary because it is a starting point. It is a way to get all parties working towards providing accurate information so the divorce process can go as smoothly as possible.
The Preliminary Declaration of Disclosure is completed in the early stages of the divorce process. All assets and liabilities are disclosed regardless of the characterization as community or separate, along with a disclosure of all income and expenses of each party.
The Preliminary Declaration of Disclosure must meet the following guidelines:
• There must be a full disclosure
• It must be accurate
• It includes all assets
• It includes all liabilities
• It applies to assets or liabilities one has or may have
• The disclosure must be made early on in the proceedings, although there is no specific time rule
• It doesn’t matter whether you think the asset or debt is a separate property item, you still must disclose
• You must also fully and accurately disclose all income and expenses
It is important to seek counsel from an experienced family and divorce lawyer to avoid any mistakes in the disclosure forms. These disclosure forms are not simply another document that needs to be prepared in order to complete your divorce, but rather they are the proof that you have complied with important spousal trustee duties after your physical separation.
If you have specific questions or need help with starting your divorce or another family law matter, contact Brett Thorsteinson, your trusted and experienced divorce and family law attorney. Brett will help you resolve your family law issues quickly and efficiently. Handling all family law matters including child custody, divorce, spousal support, and more.