What is financial disclosure?

In a divorce proceeding, far too often issues arise over family finances, both parties are required at this stage to provide full disclosure of their financial situations.

it is after disclosure has been made, you can move on to negotiate a financial settlement.

At Adel Jibs, we always inform our clients of the importance of providing us with their full financial situation. The more efficient the disclosure stage of divorce is dealt with, the more likely a chance to agree on a settlement.

Why is a disclosure important 

The court in a financial settlement aims to ensure that assets are fairly distributed between the parties and thus ensuring their funds for the future.

In order for the court to make a financial settlement order, the court would need to ascertain the full extent of the couple’s assets, inclusive of crypto coins. If assets are hidden, then it may be open to the other party to return to the court in the future and ask for an amendment of order.

What happens if a spouse refuses to give disclosure 

At Adel Jibs & Co Solicitors, we come across client partners who are adamant and do not want to voluntary disclose financial situation and if the disclosure is not made, then an application is made to the court to order disclosure and for such disclosure to be made within a time frame.

The court may draw an adverse inference on the failure to provide full disclosure.

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Financial disclosure must be accurate and complete as you will be required to fill in Form E and sign the Statement of Truth. If this is information is not accurate, it could damage your case.

At Adel Jibs, we are a leading law firm in London, we can represent you to ensure that your assets are included and correctly valued.

We can also assess your spouse’s Form E to see if all assets are included.

Our Divorce Solicitors in Enfield are experts and can work on your behalf to agree on a good financial settlement that will provide for you and give you certainty for the future.

If you would like to speak to one of our expert family law solicitors in Enfield, email us at info@adeljibssolicitors.co.uk, call us on 02034173859 or request a callback and a member of our team will be in touch promptly.

The information given here is intended for general information purposes only and should not be taken as legal advice.

Tags:Divorce, Family, Family Law, Family Finance, Child Arrangement 

Categorised in: Divorce, Family