Form E Divorce: Financial Disclosure
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What is Form E in divorce?
Form E (Financial statement for a financial order (Matrimonial Causes Act 1973 / Civil Partnership Act 2004) / for financial relief after an overseas divorce etc: Form E) is a document used in England and Wales during divorce proceedings.
It is a detailed financial statement that each party to the divorce must fill out and exchange with the other party. The form requires the disclosure of all assets, liabilities, income, and expenses of each party. It is then used by the court to determine a fair financial settlement in the event of a divorce.
The form provides full and frank disclosure of each party’s financial situation, including assets, liabilities, income, and expenses. This information is used by the court to ensure that the settlement reached is fair and takes into account the financial needs of both parties.
Filling out Form E is a legal requirement if requested by a party. Failure to do so can result in penalties, including an adverse costs order being made or having a settlement imposed on you that is less favorable than it would have been otherwise.
Is Form E compulsory in all divorces?
Form E is generally considered to be mandatory in most divorce proceedings where a financial settlement is being sought.
However, there are some exceptions where Form E may not be required. For example, in cases where the parties have reached an agreement on financial matters, or where the financial circumstances of the parties are straightforward and do not require a detailed analysis. In such cases, the court may dispense with the requirement for a Form E to be completed.
A financial order can be made using a financial consent order for divorcing couples who do not wish to proceed through the courts.
What information is required on a Form E?
Form E in requires the disclosure of a wide range of financial information, including:
- Assets: All assets, including property, investments, savings, pensions, and personal possessions, must be listed on the form.
- Liabilities: All debts and liabilities, such as mortgages, loans, and credit card debt, must be disclosed.
- Income: All sources of income, including salary, benefits, bonuses, and rental income, must be declared.
- Expenses: All regular monthly expenses, such as household bills, food, and transportation, must be listed.
- Pensions: Details of any pensions, including the value of the pension and the benefits to be received, must be disclosed.
The information disclosed on Form E is used by the court to make an assessment of the financial situation of each party. \this helps the court to determine a fair financial settlement in the event of a divorce.
Parties are required to provide documentary evidence to support the information disclosed on Form E in relation to their financial position.
This evidence can include documents providing financial details including bank statements, payslips, pension statements, property valuations, and other relevant financial documents. The aim of the documentary evidence is to support and verify the information disclosed on the form and to provide the court with a complete picture of the parties’ financial circumstances.
Failing to provide supporting evidence or providing inaccurate or incomplete information can have serious consequences, including penalties and an unfavorable settlement in the event of a divorce.
What happens following the exchange of a Form E divorce document?
Once you have completed a Form E and it has been exchanged, it signifies that both parties have disclosed their financial information to each other. This information can then be used by the court to make a financial settlement that is considered fair to both parties. After the exchange of Form E, the next steps typically include negotiating a settlement, attending a financial dispute resolution hearing, or going to a final court hearing if a settlement cannot be reached.
The length of the process following the exchange of a Form E divorce can vary greatly depending on the complexity of the financial situation and the willingness of both parties to reach a settlement. On average, the process can take several months to 12 months or more. If the case is particularly complex, it could take several years to resolve.
In some cases, a settlement may be reached relatively quickly through negotiations, while in others, it may require a court hearing to resolve. The length of the process also depends on factors such as the backlog of cases in the court system, the availability of legal representation, and the willingness of both parties to cooperate.
How can Expert Family Law assist with Form H divorce?
The solicitors on our panel can provide expert legal advice and assistance on filling in your Form H. We ensure that the divorce solicitors on our panel have the skills and experience required to assist on your legal case. We can assure you that your case will be dealt with in a compassionate and understanding manner.
The solicitors on our panel can assist you through the process of divorce, including the application, as well as assisting you with financial settlements following the termination of your marriage.
Get in touch today using the form at the top of the page to find out if a divorce solicitor from our panel could help on your case.
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