Laguna Niguel, CA asked in Divorce and Family Law for California

Q: Where exactly do I put my personal trust assets, mutual funds, money markets and cash on FL-150 for divorce please

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1 Lawyer Answer
James L. Arrasmith
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  • Sacramento, CA
  • Licensed in California

A: In California, when completing the FL-150 form for a divorce, it's important to accurately disclose all assets, including personal trust assets, mutual funds, money markets, and cash. These items should be listed under the section titled "Property, Assets, and Debts."

For personal trust assets, you need to provide details about the trust and your interest in it. This might include the value of your share of the trust and any income it generates.

Mutual funds and money market accounts should be listed under the section for investment accounts. You'll need to specify the current balance and, if applicable, the amount of income these investments generate.

Cash, including cash on hand and in bank accounts, should be reported under the section for bank accounts. Be sure to list each account separately, along with the current balance in each.

Remember, it's crucial to be thorough and honest in your disclosures. Accurate reporting of assets and liabilities is essential for a fair and equitable division during the divorce process. If you're uncertain about how to classify certain assets or how to value them, you might consider consulting with a financial expert or a legal professional familiar with family law in California.

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