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Not disclosing all assets(11 Posts)
Hi - we went to mediation where we both had to fill in form e
I've read his and he's not disclosed all his assets - e.g. His car, his work tools, some gadgets
Do I tell the mediator and if so now or at the next appointment?
I didn't think people disclosed gadgets. What sort of gadgets did you disclose yourself?
Is his car extremely valuable? I've never known anyone have to disclose an ordinary car or work tools. Work tools aren't an asset
Yes, tell the mediator.
Unless they are not worth much in relation to all assets.
Say, up to 10% of all assets.
His work tools don't belong to a company?
And his gadgets were they personal gifts? Or bought by him?
Yes I had to declare cars and valuable possessions on form E. My car was only worth £1500 but his was worth thousands.
Btw, if he's not voluntarily disclosing valuable things he knows you know about, you may want to make sure he's not hiding anything else, such as hidden savings accounts or investments.
The other point is, if he manipulates and tries to fool the mediator, maybe you need to have separate solicitors. Mediation may not work for all and you don't have to do it, if your interests aren't sufficiently protected.
But don't make it harder if it would cost you more than it's worth or the hassle would be disproportionate. Sometimes a few thousand pounds are worth a quicker divorce.
We didn't do form Es as we knew exactly what each other had so just negotiated without that but for us physical things (as we just had £1k cars) were not the big financial issues. It was massive equity in the house, shares, savings that mattered. I don't think we would have even considered to write down we had a smart phone or PC for example.
However if you have nothing and no house equity or savings the fact someone owns a car out right without finance which is worth on a resale say £10k is certainly necessary to put down. Just point it out to him or his lawyers and get them to correct the form.
In our case mediator has asked to declare all assets over £500.Just so there is balance, just gives a fuller picture.Am not sure tools are relevant unless you feel you have to have similar in new house setup and therefore need to replace.
An example might be £1k lawn mower and you need to replace with similar.
Work tools can cost several thousands of pounds, if they are professional grade.
It's not your average lawn mower.
And it's the value, not what it's used for.
But, if someone has 10 items of jewellery worth £400, and the other has an expensive watch worth £4000, surely it would be fair to include them all.
He bought an iPad Pro himself around £800, his work tool box alone without tools was £4000 and its full - he owns them not his company. His car is about £1500 that's owned outright. All he put was a guitar & amp at £600 - he bought them last year plus another guitar for £2000 at least.
It said all assets over £500 - for example I put my phone on mine - in capitals it said to include cars etc.
We were going though pensions he had and disclosed one but I pointed out in front of the mediator that there were another 2 but we didn't actually go through the whole form
Message withdrawn at poster's request.
Just found one of the pension statements he didn't think were worth putting in the form as they are worth 'pennies'. He mentioned one worth £400 - the one I've found has a cash in value of £7000!
I'd hoped to sort things without needing lawyers but it seems he's already trying to lie
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