Divorce and Finances: What is a Form E?
You will be required to fill out a From E if you wish to finalise financial matters in court following divorce.
What is a Form E?
It is a detailed document in which you provide details on your income, assets, outgoings, expenses and any pensions you have.
Your ex partner will be required to do the same.
You will also need to state the needs of yourself and any children.
Full and frank disclosure is required.
Failure to do so could have serious consequences.
The Form E provides the basis for a financial order to be made.
A financial order is made when the court decides the division of your finances or can record agreements between you and your ex spouse to make them legally binding.
Why is a financial order important in divorce?
It is essential as in most cases a financial order prevents future financial claims being made against one another.
Can you reach agreements on finances without court?
Yes you can.
Only a court can make them legally binding.
You can use mediation or agree yourselves, and use a financial consent order.
However, you will still need to complete the Form E. Although, this will be informally if you don’t go to court. It gives all the information on the financial situation and you can reach agreements that are deemed fair.
What information is needed for the Form E?
There will be a checklist on the final page of the Form E.
This helps you answer the questions in the form.
Documents needed to include:
- Personal bank statements
- Any building society account statements
- Any saving account statements
- Information on any other investments
- Matrimonial home valuation
- Matrimonial home mortgage statements
- Valuations and mortgage information on any other properties
- Life insurance policies
- Business interests
- Employment income
- Self employment income
- Partnership income
You may not need to or be able to provide all this information as your circumstances are unique to you.
You would just mark ‘Not applicable’ to the items on the checklist that do not apply to you and your divorce.
Sometimes, you may not be able to access the document required so you can mark ‘To Follow’. This would allow the court know that you have requested it but it is not available at the moment.
Then you exchange forms with your ex husband/wife.
You are then able to use a questionnaire to ask you ex spouse questions based on the information they have provided.
If you think they have not been honest of the information is correct, it is at this point you ask the questions.
NOTE: once forms are exchanged, you are STILL legally obliged to disclose any changes!
What happens if full disclosure isn’t given?
You and your ex have a duty to give full and frank disclosure when filling out a Form E.
If either of you fail to do so, the case could be set aside.
If either of you is found to have purposely been untruthful, criminal charges may be brought.
The Form E is a legal document. You have to sign a statement of truth.
If you think your ex is withholding information, you can ask the court for a hearing where you present evidence as to why you believe this.
The court then decides if they will order the disclosure you seek, or if punishment will be brought against your ex.
“The Form E is a large document. It can feel daunting at first. My advice is:
Read it through first.
Then head to the checklist.
Gather the documents before answering the questions is possible.”
Samantha and her team are on hand to help you through this, and your divorce.
We can provide advice specific to your circumstances, and advise the routes available.
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