I have a couple questions on FL150
Number 11a-Assets- is this today, or the day I filed?
Number 11c-Is my house “real” property? And do I combine the house value (minus owed) AND the value of all the household (furniture etc) value?
I have a couple questions on FL150
11a: that is the current estimate of your assets.
11c: yes, your house is real property. In order to determine the house value, you take the estimated fair market value and subtract the debt on the house itself. If you also have “personal property,” which includes furniture, furnishings, appliances, vehicles, jewelry, and other similar tangible items, you will want to add the house value (real property value) and the personal property value to complete this section correctly.
After reading your FAQ’s, I understand that we cannot avoid filing the financial disclosures.
Does completing FL-150 do anything in terms of the court forcing our hand to split assets or pay debts in any particular way? It seems to me it is simply documenting the facts of the financial situation, correct? We have agreed on everything, no children, no property, just minimal assets and debts that we have agreed to split up amongst ourselves.
This is a fantastic question - thank you for asking it!
Completing FL-150 does not automatically do anything other than to fulfill the legal requirement for the exchange of financial disclosures. It should not impact your agreement/settlement in any way, and the Court will NOT interfere with your decision unless it was obvious that the division was really, really unfair (for example, one spouse makes $1M/year and keeps all the assets, and the other spouse doesn’t work and keeps all the debts). For most average divorcing couples going through an uncontested divorce, this form represents nothing other than properly proceeding with your divorce.
In general, Courts/Judges want to give divorcing spouses the first opportunity to reach their own agreement as autonomous adults, even if it’s not the same result as what the law would require. It’s only when things go sideways when a judge will step in and strictly apply the law. You have a chance to do better than the law and come up with a solution that works for both of you in your specific lives.
Hi Cristin, thank you for all your help. I see this is never posted before. I am little uncomfortable in giving financial details mainly because this doc(fl-150) is a public record. As I learn that anyone can get hold of this doc and see your annual pay and assets worth like stocks. Is that true. I started the divorce and served my wife. I am working on the disclosures. My wife is fully cooperating, If I dont have to disclose fl-150 as a public record, I would like go with “uncontested with agreement route.” but not sure how tedious is that as she has to respond (Which is okay but how much paper work she has to do or we both together do one set of paper work). Thanks in advance.
Also we do not mind paying her court fee 435$ if that give privacy and other benefits like lesser forms and get it done faster (we have kids and house, planning to do MSA).
Uncontested with agreement means that you both file (you Petition and she responds with FL-120). You both prepare and serve your financial disclosures, BUT if there is a full agreement, you are not required to file FL-150 (you still have to serve it). The only mandatory filing is then FL-141, which has no confidential information.
thank you for providing this great website and forum! Very helpful!
I have a few questions in regards to FL-150:
What if my spouse is unemployed due to Covid-19, but is expected to start working again as soon as the business is allowed to re-open? Under 4. Others Party’s income: would I put assumed UI amounts or the last salary known?
After a long separation, I found someone and now live with my new partner. I assume I have to list the partner under 12. What would I put under average monthly expenses: just my own expenses (joined with new partner divided by 2) or for example the total amount of rent regardless if I pay half of it or not? Is it important to name the partner as partner put under 12 or could I also write roommate (same for FW-001)? I don’t want my ex to know yet as we are not amicable with each other and I don’t want to harm the children with her possible emotions following that information?
as for my own income: I’ve received the notice by my employer that my job title will be eliminated in January. I will have a significant decrease of income. Should I put this under 9. Change in Income? Will this help? I’m afraid to get so much child support that it will financially ruin me under the new conditions next year until I can find something else (which isn’t easy in a Pandemic).
Thank you so much for your help!
I have not seen or communicated with my ex in over 6 years… been separated and not living together for over 12 years… I dont want to share my income status with this person who has nothing to do with my life at this point… Is there any way around having to share this income information? We both have completely separate lives now, new partners and I have 4 children with my new partner… this divorce filing with my ex is a long overdue formality. My income today is not representative in any way of where we were when i separated from this person 12+ years ago.
Either option is fine, as long as you clarify how you derived the amount.
Yes, you would disclose your new partner if they live with you. You can EITHER list “only” your share of the expenses (and then you would not include what they pay), OR you can list the entire household’s expenses and then you would have to state how much the partner pays.
First, I’m so sorry to hear about your employment situation. Since “anything” could happen between now and January, I think it’s a little speculative to say your income will decrease at that time. While I understand COVID (and of course the upcoming election) impact the economy and job availability in certain industries, that’s not necessarily the same for everyone. Anytime your income actually changes, you can modify support.
I’m afraid not. You will still need to disclose your current income.