What is a declaration of disclosure?

Each party in a California divorce is required to share with the other his/her "Declaration of Disclosure." This is just a legal phrase which means that each spouse must share with the other spouse his/her understanding of the marital assets and debts, separate property assets and debts, incomes, and potential opportunities and/or liabilities. There are specific forms which are used to disclose this information. A Final Declaration of Disclosure must be served unless both parties waive the exchange of these documents before the final agreement is signed.