Tips to Expedite Your Divorce: Preliminary Declaration of Disclosure (PDD)
Use these tips when completing your Preliminary Declaration of Disclosure (PDD) to expedite the settlement process later on.
Provide Account Numbers for All Assets, Accounts, and LiabilitiesThis may seem simple, but the account numbers are often excluded from the Schedule of Assets and Debts (FL-142) or Property Declaration (FL-160). Excluding this simple step causes issues when trying to reach a settlement because accounts are improperly identified, especially when the incorrect account balance is provided.
Provide the Current Account Statement for Every Account--List this AmountProvide the most recent statement for all accounts, assets, and liabilities on your Schedule of Assets and Debts (FL-142) or Property Declaration (FL-160). Use the ending balance from the statement you're providing as the "Gross Fair Market Value" to avoid confusion and allegations of misreporting the asset later when working toward settlement.
Provide the Account Statement that Includes the Date of SeparationThe argument is often made that community assets and debts should be divided using the balance or value at the date of separation (though there are some exclusions to this when assets should be valued at the time of trial--it's suggested you consult with an attorney). Providing the date of separation statement for all accounts, assets, and liabilities with your PDDs will speed up the settlement process because necessary information has already been provided.
Provide the Account Statement for the Date of Marriage (If Applicable)If you claim to have separate property interest in an asset that the community may be entitled to a portion of, you will need to prove the amount of your separate property interest--this is called tracing. To trace your separate property interest, provide the account statement for the date of marriage. You might need to request this statement directly from the bank, mortgage company, etc., which can take time. If you don't have the date of marriage statement available when you provide your PDDs, provide it as soon as a copy is made available to you.