Form E exchanged what happens about spending

[winniemum]

Been separated 5 months, we’re divorcing and form Es have been exchanged.
I noticed when I got his evidence that he’d spent a bucket load from his current account ie 10k just before he submitted his form.
We don’t have joint accounts but
if he carries on spending there will be less to divide surely?
Will it affect the final division of assets?
Which final figures do they take? The ones on form E or do they adjust for extra spending at the end?

Have you done questionnaires? Going through bank statements and asking for explanations of large spending/transfers was something my solicitor put on the questionnaire for my stxh to answer.

To a certain extent it depends what he is spending it on, assets or consumption.

As above, yes you can ask about this in your Questionnaire. I also asked for statements prior to the 12 months as I had suspicions about what had gone on beforehand.

I think you can generally ask about anything over the value of £500.

Thanks. I’ve told my solicitor about his excessive spending. She said he shouldn’t be taking the marital assets but didn’t suggest what I can do.
Do the bank account totals stated on our form Es count or do they recalculate what we each get just before everything’s finalised?

What’s the difference between assets and consumption Matilda?
He’s spent it in glasses, £1000s on his teeth etc.
If I bought a sofa which I need would that be knocked of my savings amount?

You will need to do an updated disclosure just before of bank statements etc.... The spending depends probably if it's seen as justified or excessive. My solicitor said I could spend on things like car repairs etc... day to day spending, but shouldn't buy myself a designer hand bag!

Ah I didn’t realise we had to do an updated disclosure. Thanks that’s useful to know.
I’m in rented accommodation with not much here so could I be justified getting some things like a food processor, lamps, rugs etc and do you have to provide receipts?
I’ve got my eye on a Magimix and am thinking I’d rather get it now (it’s expensive though)!

I would have thought that would be ok, it wouldn't be unreasonable to furnish a new home.

@winniemum

What’s the difference between assets and consumption Matilda? He’s spent it in glasses, £1000s on his teeth etc. If I bought a sofa which I need would that be knocked of my savings amount?

If it is an asset then there is still the value of the asset to be divided in thr financial settlement, if it was spent on consumption it is gone, so cannot be divided.

The court would view him buying a load of furniture to set up a home differently than it would view him spending on holidays and nights out. Alternatively if he withdrew a load of cash the court could well view him as having that asset when making a financial settlement unless he could demonstrate how it was spent.

@winniemum

Ah I didn’t realise we had to do an updated disclosure. Thanks that’s useful to know. I’m in rented accommodation with not much here so could I be justified getting some things like a food processor, lamps, rugs etc and do you have to provide receipts? I’ve got my eye on a Magimix and am thinking I’d rather get it now (it’s expensive though)!

It would be wise to keep receipts, although if the spending seems reasonable then you probably will not be asked for receipts. There could be an argument that spending £500 on a Magimix machine would be excessive when a generic mixer for £100 would be fine.

My view would be spend what you need to, but also keep think about finances going forward. Divorce can be expensive, money in the bank is almost always more preferable than goods, it would be unwise to waste money unless you have a good job to fund that expenditure.

Thanks all for the advice.
Not got loads of money so it’s good to think about more money in the bank being sensible.

@winniemum

Ah I didn’t realise we had to do an updated disclosure. Thanks that’s useful to know. I’m in rented accommodation with not much here so could I be justified getting some things like a food processor, lamps, rugs etc and do you have to provide receipts? I’ve got my eye on a Magimix and am thinking I’d rather get it now (it’s expensive though)!

Yes, with mine I think we had to provide updated disclosure (all accounts and liabilities) to each other 14 days before each hearing.

Maybe best to hold off anything that might be deemed frivolous for now? Keep receipts for everything you buy to furnish your new place.