Form E divorce relate to financial disclosure
If you and your former partner are separated or getting divorced you will both be required to complete a form e divorce, this is the process of financial disclosure which enables you to understand the other party’s position. It is a legal requirement and it can encourage honesty, fairness and consistency during discussions about financial settlements. In order to make a decision about a fair financial outcome the Court needs to have a full picture of both parties’ positions including all assets, debts and income sources.
Form E is a form which invites both parties to set out details of their assets and liabilities, it also asks for copies of relevant documents such as bank statements. Each party is expected to provide a statement of their income, capital needs (including those for any children involved) and expenditure and will be asked to complete a valuation of other assets such as property and shares.
Once Form E is completed both parties will exchange it with the other party, they are also required to produce a Questionnaire outlining any additional questions they have about the information that the other party has provided. This will normally be presented to the judge at the First Appointment Hearing, the judge will decide which questions are valid and then instruct the non-disclosing party to answer these under oath and produce further documents if needed.
How does the Form E divorce relate to financial disclosure?
If your former partner refuses to voluntarily exchange their Form E with you, or they are not being honest, this can have consequences such as increased costs for you and the other side as it will take longer for the judge to consider their case and make a decision. A summons can be issued to compel them to attend court and answer questions under oath and produce further documents or the judge could find them in contempt of court which may lead to a prison sentence.
After Form E is exchanged a number of dispute resolution appointments are listed to help parties reach an agreement, failing which the matter will be listed for a final hearing at which the judge will hear all evidence and make a decision. The Judge’s decision is binding on both partners.
It is important that the correct information is put in place at this stage, if there are mistakes later on they can have significant implications for your financial settlement and any associated financial documentation such as a Consent Order. It is always worthwhile seeking expert advice from a family lawyer who can help with completing Form E and the overall financial settlement process. At Mediate UK we offer pragmatic, constructive and sensible divorce financial settlement advice and can support you to reach a fair and reasonable settlement with your former partner in mediation or at court. To get started book a free initial consultation at our family law offices in Bath, Bristol or Bradford on Avon. We can also provide a MIAM and complete a Form A for you as part of your divorce proceedings.
