Financial disclosure in divorce settlement negotiations

8th March 2015 by

 

Healys’ divorce solicitors in Brighton and London, can represent you during a financial claim on divorce. We are able to explain and advise on all aspects of ancillary relief negotiations – for both applicants and those defending a claim – and are committed to ensuring that your best interests are upheld.

When applying to the court for a divorce settlement financial order, both parties are required to openly share full details of their individual financial circumstances – otherwise known as financial disclosure.

Full and frank financial disclosure is key to the fairness of any financial settlement and divorce solicitors will be able to advise their clients on which documents and evidence are necessary. However, if one party to the divorce is not open about their financial situation and it is later found to have skewed the court’s view of the settlement, a judge will have power to alter the financial order. Some forms of non-disclosure are also considered illegal and may result in a prosecution and perhaps even a custodial sentence.

Financial disclosure – what do you need to disclose?

The following information is required from both parties to the divorce:

  • Recent property valuation – including marital home and any other freehold/leasehold properties
  • Recent mortgage statements
  • Recent bank and building society statements – to include all savings and current accounts held in your name or jointly
  • Details of stocks, shares or any other investment assets
  • Details of income from rental properties
  • Details and surrender valuations on any life insurance or endowment policies
  • Details of salary – to include most recent wage slips and P60
  • Pension valuations – a cash equivalent transfer value (CETV) may be required
  • Business accounts – documents for past two years
  • Details of debts – including store and credit cards
  • Details of inheritances – both received and likely to be received in the near future
  • Details of valuables – such as family heirlooms etc.

This list is, of course, not exhaustive and it is a good idea to discuss any financial interests, both current and in the foreseeable future, with your solicitor so that he or she may advise you accordingly regarding their bearing on the financial settlement.

Healys divorce solicitors in Brighton and London for financial disclosure advice

All our divorce and family lawyers are dedicated to offering an entirely client-focused service which acts to ensure the most positive outcome for clients negotiating a divorce settlement.

When discussing the procedure for financial claims we use plain English to help you fully understand the process and we work with you to ensure full compliance with court requirements.

For more information on the services we provide, please contact Jane Sanders on 020 7822 4107 or email jane.sanders@healys.com in London. For Brighton enquiries, please contact Catherine Taylor on 01273 669 124 or email catherine.taylor@healys.com