Financial disclosures are one of the most important parts of any California divorce or legal separation case. California law requires both parties to exchange detailed financial information to ensure transparency, fairness, and informed decision-making during the dissolution process. One document commonly used in uncontested matters is the Stipulation and Waiver of Final Declaration of Disclosure (Judicial Council Form FL-144).

While waiving final disclosures may simplify an uncontested divorce, parties should understand the legal requirements, limitations, and risks associated with doing so.

What Are Financial Disclosures in a California Divorce?

California family law imposes strict disclosure obligations on both spouses during divorce proceedings. The purpose of these disclosures is to ensure that each party has complete and accurate information regarding:

• Assets
• Debts
• Income
• Expenses
• Community property claims
• Separate property claims

These disclosures help prevent fraud, hidden assets, and unfair settlements.

Generally, California divorces involve two rounds of disclosures:

• Preliminary Declarations of Disclosure
• Final Declarations of Disclosure

The preliminary disclosures are exchanged early in the case. Final disclosures are typically updated versions exchanged later, after discovery and negotiations have occurred.

What Is Form FL-144?

Stipulation and Waiver of Final Declaration of Disclosure (Form FL-144) allows parties in certain cases to waive the requirement of exchanging final declarations of disclosure.

This waiver is most commonly used in:

• Uncontested divorces
• Default cases
• Cases resolved through written settlement agreements

By signing the waiver, both parties declare under penalty of perjury that they have already complied with California’s disclosure requirements and are knowingly choosing not to exchange final disclosures.

When Can Final Declarations of Disclosure Be Waived?

California law does not allow parties to casually skip financial disclosures. Final disclosures may only be waived under specific circumstances.

Under Family Code section 2105, parties may waive final declarations of disclosure if:

• Preliminary declarations of disclosure were properly completed and exchanged
• Both parties exchanged current income and expense declarations
• Both parties fully disclosed all material financial information
• The waiver is entered knowingly and voluntarily
• Both parties understand their ongoing disclosure obligations

The waiver does not eliminate the duty to disclose financial information. Instead, it acts as a sworn statement that all required disclosures have already been completed.

What Must Be Disclosed Before a Waiver Is Signed?

Before signing a waiver, each party must disclose all material facts regarding:

• Characterization of assets and debts
• Value of community property assets
• Community liabilities
• Income, earnings, and expenses

This includes any updated information learned after the preliminary disclosures were exchanged.

For example, parties must disclose:

• Newly discovered bank accounts
• Retirement accounts
• Real estate interests
• Business ownership
• Investment accounts
• Debts or loans
• Bonuses or increased income

Failure to fully disclose this information can create serious legal consequences later.

Waivers in Default and Uncontested Cases

Waivers are especially common in uncontested divorces where both parties cooperate to finalize a settlement agreement.

In these situations:

• The parties typically exchange preliminary disclosures
• They negotiate a marital settlement agreement
• They sign Form FL-144 to waive final disclosures

In default cases, the rules are slightly different. A petitioner generally only needs to serve preliminary disclosures on the respondent. The petitioner may also waive receipt of disclosures from the respondent in certain circumstances.

However, even in default matters, disclosure obligations must still be taken seriously.

Can a Judgment Be Set Aside for Improper Disclosure?

Yes. One of the most important things parties should understand is that failing to comply with disclosure laws can result in a judgment being set aside.

California courts treat disclosure violations very seriously because family law proceedings require a high level of fiduciary duty between spouses.

Under Family Code section 2107, courts may impose:

• Monetary sanctions
• Attorney’s fees
• Litigation costs
• Set-aside of settlement agreements
• Set-aside of final judgments

A party who falsely claims to have fully disclosed financial information may face significant legal consequences.

For example, if one spouse conceals assets, understates income, or intentionally withholds financial information before signing FL-144, the court may later reopen the divorce judgment.

Are Income and Expense Declarations Still Required?

Yes. Even when parties waive final declarations of disclosure, current income and expense declarations may still be required in certain circumstances.

This is especially true if the judgment involves:

• Attorney’s fees
• Spousal support
• Child support

Courts still require updated financial information to properly evaluate those issues.

Why Disclosure Requirements Matter

California’s disclosure laws are designed to promote fairness and informed decision-making. Even in amicable divorces, parties should avoid treating disclosure obligations as a mere formality.

Improper waivers often become problematic later when:

• Hidden assets are discovered
• Property was undervalued
• One party did not fully understand the finances
• Income information was inaccurate
• A spouse later claims coercion or fraud

Taking the disclosure process seriously at the beginning of the case can help prevent costly future litigation.

Consult a Family Law Attorney

Waiving final declarations of disclosure may simplify an uncontested divorce, but it should only be done after both parties have fully complied with California disclosure laws. Because improper disclosures can result in sanctions or even the reversal of a divorce judgment, it is important to fully understand your rights and obligations before signing Form FL-144.

If you have questions regarding financial disclosures, marital settlement agreements, or uncontested divorce procedures in California, you should consult with an experienced family law attorney to discuss your situation and protect your legal interests.