Financial disclosure

[Biggles001]

Hi,
I am hoping some of you lovely lot can give your view/advice/experience on the financial disclosure part of a divorce?
Is there even any point going through it if you're only going to come put with a 50/50 equity split? Yes, there are children involved, but he is saying he wants 50/50 custody.
If you're only going to come out with 50/50 split, would going through financial disclosure not just mean more time and money?
Thanks!

[NeedAdvice0987]

If you don't do the disclosure how will you know what is a 50/50 split?

[Biggles001]

Because we know what the house is worth? Or am I being really thick here?

[millymollymoomoo]

Is there anything other than than house? Eg pensions?
Are there disparate incomes and earning potentials ?
If so 50:50 might not be fair

[Biggles001]

I don't want his pension, I'd hope he doesnt want to claim mine and earnings are approx the same (I earn more per year, but he always works overtime, I can't)

[NeedAdvice0987]

No savings, no investments, nothing except a house? Then the financial disclosure would be really simple anyway and not expensive.

But you don't have to do it if you both agree on the outcome.

[millymollymoomoo]

You might not wa to his pension but if it’s worth consideration more than house equity it needs consideration and solicitors / judge will ask about them
Do you know relative values ?

[Toomanycats99]

If it's not formalised are divorce either one of you could go back in years to come and claim.

[SallyR12345]

Sounds like you're still on goodish terms which is great. You do need to get it formalised however. If you have a look at www.gov.uk/money-property-when-relationship-ends it all seems pretty straight forward.

[justchecking1]

If you don't get one, and one of you comes into money eg inheritance, the other could still make a claim for a share of it

[Moanranger]

It is really important to get a sealed court order setting out financial split. If you do not ex partner can come back & claim 50% of a future windfall, for example, an inheritance.
If it is in fact simple, then should not be time consuming or costly, and you do not have to use a lawyer. ( I self-represented, & my financial situation was complicated)