Divorce and financial disclosure
Do I have to give financial disclosure as part of divorce?
Yes, couples who are resolving their financial issues have a duty to make a full and frank disclosure of their financial circumstances as part of divorce. They must each disclose their worldwide assets and income (including business and trust interests), both at the time of the divorce and for the 12-month period leading up to the divorce, with the court being able to look further back in time where this is warranted. If issues are being resolved through the courts, there is a standard format for this disclosure (in 'Form E'). If issues are being resolved through a voluntary process (see do we have to go to court to resolve the financial issues between us upon divorce?) then couples can use the court forms for convenience or can use a different format of their choosing.
If the couple are able to reach a financial agreement without litigating in court, then, as part of its approval of an order reflecting that agreement, the court will only require summary financial information so that it may satisfy itself that the terms of the agreement are fair.
If a case of fraudulent non-disclosure is discovered later, this may be a reason for a court order to be set aside.
In these FAQs and answers, we use 'England' as a shorthand for 'England and Wales' because England and Wales share a single legal system. Scotland, meanwhile, is a different legal system and has different rules for many aspects of family law.
We have also chosen to talk about 'marriages' most of the time (which may be between either an opposite or same-sex couple). Unless we say otherwise, what we have said is also true of civil partnerships (which may also be between an opposite or same-sex couple).
These FAQs (and our website more generally) contain general information based on English law as it stands at the date of publication, but they do not constitute legal advice, nor are they tailored to any couple or family's particular circumstances. Whilst we endeavour to ensure it is accurate and up to date, website users should seek appropriate legal advice before taking or refraining from any action based on the content of the website. We would, of course, be willing to assist with this, and you can contact us here.
Any pricing information is similarly general. Our clients' relationship with us is governed by the terms of the engagement letter sent to them at the beginning of their instruction.
Get in touch
Our team of divorce law solicitors are on hand to help and support couples who are thinking about divorce. Speak to one of our experts confidentially by phoning Sarah on the number below, or complete our online enquiry form and we will contact you directly.
+44 20 7597 6384 Email Sarah