What happens if he refuses financial disclosure?

[Beeebabababom]

I asked him to do a voluntry disclosure so that I can show his details to my solicitor to get advice on what offer I short start to negotiate with.

He was happy to give details until he saw that I needed his bank statements for the last year.

I earn 27,000 he earns 60,000 we are in our 30s with small pensions. We have been planning for him to buy me out as he has some inheritance money he can use. (Please don't tell me I'm entitled to 50% of that as I've never seen that as my money and it can be used to benefit me anyway as it means the kids will have some consistency since he can keep the house)

I don't want to take him to court as they moment we would be arguing over wouldn't be worth it so what now?

What happens next?

Thank you

If he won't disclose it voluntarily you have to go to court.

When going through the divorce process it's seldom based on doing what you want to be honest, it's more a case of doing what you have to.

When I divorced, the direction hearing judge listed what documents each party had to produce. My ex ignored them. The judge at the final hearing (which ex did not attend) used my documents as evidence os assets owned by ex.

@Beeebabababom

First get Form Es and agree an exchange date.
Complete Form Es and attach all required documentation exchange on the agree date.
If missing, send questionnaires - a list of info and docs missing and date to receive them by.
If still missing send deficiencies - a list of still missing info and docs and date to receive them by.
If still missing send solicitor’s letter requesting missing info and docs.
If still missing apply for a court order for missing info and docs - court order may/may not have a penal notice (consequences if not complying with order).
This can be done by a litigant in person if not represented by a solicitor.
All this is what a solicitor would do.
Go to court with the order sought and in the hearing explain to Judge the issue - and do make sure you have sent in / exhibited to the Judge the docs showing requests and responses. Ask the Judge to issue an order and directions that the other party should disclose the info and docs.

If still an issue, litigation misconduct case can be run and the ability to apply for a costs order may be possible.

Once only all financial info and docs are received, negotiations occur.

Well do you actually need his bank statements for the last year ? What is it in those specific documents that you need to broker a deal? Obviously they are useful in identifying whether money is being moved into investments and savings but if you are relatively confident you have captured all of those then why insist at this point?

He earns 60k per year which doesn’t give much scope for siphoning off family money. To be honest whilst I would not refuse to hand over this level of information, I would want to avoid it if I could. If his declared assets are what you expected and you can get a payslip to confirm take home pay - you have enough to understand what a ball park offer would look like.

If he is not cooperating with voluntary disclosure - you tell him you are going to court then.
There is a big difference between SAYING you will be going to court, and filing documents to start the process - and actually going to court.
He may be counting on you not fighting back.

If you do - and call his bluff - he may start cooperating.

Women often lose out in Divorce because we try to avoid conflict and do not want to fight. Men bluff and force their way all too often.
Don't do it.

Bank statements are only useful to validate assets really.
di you know roughly value of equity/savings/debt? If so do you really need full disclosure?
are there lots of assets?
it doesn’t sound like there will be lots in which case do you really need them?

do you have children together ?

Thanks everyone.

We are still managing to have open conversations with eachother so I am going to interrogate him on why he doesn't want to show his bank statements!

If it's because he can't be bothered with the admin side of it then I'm not too concerned and I'll just offer to do it for him. If it's anything else or he just gets defensive then I'll have to insist he does produces them via my solicitor.

He has spoke to a solicitor that is part of a resolution group so wants to do as much of it as we can ourselves and it not get messy and nasty. I don't think he's trying to unfairly split the money but I do think there are some areas that neither of us would have considered when working out how to do it fairly, which is why I want legal advice but I can't get legal advice if he doesn't do a financial disclosure.

I was intending for us to do a voluntary financial disclose and then show his docs to my solicitor so that she can advise me on what to go for but at this stage I do not want my solicitor to contact him directly yet.

But what do you want to do with them?

and what do you think it will achieve If

1. there are t many assrts
2. there are no chikdren

But what do you want to do with them?

I just want to present them to my solicitor so she can officially advise me on what to negotiate. She said she can't advise me on what a fair split is unless we do a voluntary financial disclosure. She said we don't need to do the full form E( as technically that's just for if we go to court) but we do need to provide all the documents that the form E refers to.

there are t many assrts

Sorry what?

We have two children. 7&4

My point is

1. bank statements are only there to validate assets eg to see if monies being transferred to isa /savings/etc.
2. if you know roughly what these are you don’t need bank statements- certainly not to get a view of overall assets and not at voluntary disclosure stage. You might not even need it at all

if there are not many assets ( and on the monies you earn between you I’m assuming there are not much other than house and pensions) I don’t see what value they bring.

i certainly wouldn’t want to give mine - not because i was hiding anything but I didn’t want my ex scrutinising line by line my expenses- and that is not their purpose

so you can say to your solicitor we have a house worth x, with mortgage y
we have 30k in savings
we have 2 occupational pensions ( or whatever you have ) and she can give rough idea of split or likely range
if you and ex can’t agree between you and need to go more firnsl
route then these can be requested as part of form e. But if you don’t have many assets it would be wise to not spend thousands on legal and court fees fighting over them

essentially you are simply trying to provide 2 homes for both you and your ex suitable for the children

unless of course there is family wealth/inheritance or something else which would make this a more complicated case

https://www.gov.uk/money-property-when-relationship-ends/get-court-to-decide

It is a legal requirement to give full and frank financial disclosure.
Living expenses are considered so bank statements are a legitimate exhibit to request - pertaining to needs.

Banks statements are a requirement of initial full and frank disclosure via Form E and they are also a requirement of regular updating disclosure as long as proceedings last.

How much money is coming in and out, what it is spent on, if it is transferred and where, is vital information.

A party may not wish to give that level of detail about their day to day income and outgoings but the law via Form E and updating disclosure means they should.

@Beeebabababom Anyone who suggests full and frank financial disclosure is not needed is not working in your best interest.

Form E is there for a reason - to exhibit all the financial information as a basis upon which to reach a settlement. Parties need to have written evidence of what the assets are, and documentation valuing the assets. Form E sets out the categories and requirements e.g. pensions, savings, stocks and shares, cash, property, chattels and the documents required/valuations.

Form E is used to declare and disclose assets. Form D81 is then primarily used after an agreement has been reached and informs the court of the parties' assets in one concise document.

The bank statements are helpful in identifying any anomalies between income and outgoings. For example if someone had a take home pay of 10k and was putting 3k towards the household expenses. Then you would expect to see savings accruing or outgoings to an investment account. This is how you track down hidden assets or challenge formal declarations that state there are not assets.

What Molly and I have queried is whether your family finances add up knowing what you know about his income. For example if you know he was taking home 4k and putting 2.5k into the household and 1.5k into a savings account or pension then all his income is accounted for. The bank statements won’t tell you a lot more.

A lot of people get scratchy about sharing personal information unless they have to. Before seeing this as sinister and escalating this to expensive solicitors letters you could maybe assess whether you have enough information to start negotiations. The question to ask yourself is do you have a concern that he has money in investments or savings you know nothing about.

The bank statement is helpful but may not be necessary at this stage. Probably not worth a confrontation or interrogation.

@Beeebabababom Posters please be aware the following advice is incorrect:

bank statements are only there to validate assets eg to see if monies being transferred to isa /savings/etc. - incorrect

if you know roughly what these are you don’t need bank statements- certainly not to get a view of overall assets and not at voluntary disclosure stage. You might not even need it at all - incorrect

Bank statements are only useful to validate assets really - incorrect

do you know roughly value of equity/savings/debt? If so do you really need full disclosure? - incorrect steer (yes you do)

Women making decisions about their finances need information and evidence of it. Why make agreements about decisions that Impact your financial future on guesswork?

Courts make decisions on evidence why would a woman want less?

The OP has said they are not at the stage of completing a form E. She has said this is voluntary process to inform how she approaches her divorce.

What people are saying is that she may have enough information to get that advice and decide what to do next. Not all divorces are equal and they don’t all require forensic detail to tell you that you have limited assets and average incomes. In which case you are better to work out asset splits yourself. If the risk of hidden assets is low and all you are dividing is some equity and comparable pensions then there is no point in going all in on lawyers and forensic accountants. Which is what a good lawyer will tell her.

Litigants in person can get full financial disclosure without huge costs:

Form E Exchange
Questionnaires - ask for missing info and docs/valuations
Deficiencies - ask for missing info and docs/valuations
One solicitor's letter - ask for missing info and docs/valuations
One court order application -ask for missing info and docs/valuations
One hearing - exhibit the above and ask ask for missing info and docs/valuations
= court order (with or without penal notice)
Full financial disclosure.
(It's not that difficult and it's not costly).
Then negotiate - with the full facts and evidence.

All divorces by law require full and frank disclosure.

It’s not incorrect all

full disclosure is not even necessary at all.

You can divorce and agree finances without it. Bank statements simply validate assets or anomolies- which at this point in time are not a barrier to ops lawyer giving some guidance on the basis of op being able to give a view in what they have

they may ultimately need to go a more formal route but it doesn’t feel like they are at this stage yet and might be avoided.

if op knows their position, eg that she earns x/ex earns y
the house value and mortgage balance
any savings

then right now full disclosure is not needed and he does not need to provide bank statements ( at this point)

"It’s not incorrect all
full disclosure is not even necessary at all".

Your comments are incorrect

It called the full and frank disclosure requirement.
Its is a legal obligation in divorce in the UK.

There is a strict legal requirement to engage in 'full and frank disclosure'.
Full and frank disclosure requires both you and your spouse to fully and honestly disclose your respective financial positions so that a fair outcome can be reached.
The OPs solicitor has advised her to exchange full and frank disclosure using Form E categories.

If in doubt, google "Is full and frank disclosure a requirement divorce?"

It is best to emotionally regulate prior to posting and ensure facts are correct otherwise it may mislead the OP.

https://lowrylegal.co.uk/articles/divorce-separation/the-need-for-full-financial-disclosure-in-divorce/

You only need full and frank disclosure if you head to a court outcome
otherwise It is not required ( although consent order likely to be challenged
if it’s deemed wholly unbalanced )
and op is not at that stage at all
and might not need it Especially if as lemott has stated and their earnings are essentially counted for with household spending and minimal investments or savings ( which we dont know if there are any)

@millymollymoomoo "You only need full and frank disclosure if you head to a court outcome otherwise It is not required".

This is incorrect information

Full and frank financial disclosure is a legal requirement in divorce in the UK.
Both parties are obliged to provide it.

If you read the article it explains the legal duty in all cases, and gives some very sensible reasons why Form E is a good way to get full and frank disclosure in cases of voluntary disclosure. This is why the OPs solicitor has advised the OP to to exchange full and frank disclosure using Form E categories.

https://lowrylegal.co.uk/articles/divorce-separation/the-need-for-full-financial-disclosure-in-divorce/

"In fact, even when court proceedings have not been issued, it’s essential for both parties to establish their finances in order for both sets of solicitors to provide clear and detailed advice to their respective clients. There is a duty of ongoing full and frank disclosure".

"Even in cases of voluntary financial disclosure, generally a less taxing route to resolution, complete transparency is a non-negotiable duty".

"Form E is a form of financial statement that enables both parties to detail full financial disclosure in divorce. It is a standard document that provides a comprehensive insight into assets at play and is compulsory when court ordered. Form E is so comprehensive that many solicitors use it to establish assets even when it hasn’t been formally requested.

Form E is commonly used in the following situations:

• Ahead of the First Appointment: During financial remedy court proceedings, Form E will need to be completed in advance of the First Appointment. This generally takes place within 3 months of court proceedings being issued.
• Exchanging financial disclosure on a voluntary basis: When both parties are amenable to reaching a financial settlement and are communicating their wishes through their own solicitors.
• During mediation: Sometimes the form, or a version of it, will need to be completed when both parties have entered mediation in order to help reach a financial settlement.

@Beeebabababom
The thread has been derailed a bit re the difference between full and frank disclosure and Form E exchange. Your solicitor has advised full and frank disclosure using Form E categories.

Your thread title is
What happens if he refuses financial disclosure?

The answer is, that financial disclosure is a legal requirement including bank statements (see Form E). There are steps you can take to ensure you get financial disclosure - already covered in the thread answers.

All the very best and good luck :)

It has been yes because one poster is not acknowledging what I’m saying

i did my divorce with ZERO financial disclosure. As dud many friends and family as we all did not go via court and sat round a table and negotiated and agreed with our exes.

any solicitor can give op a view without needing any proof of anything at this stage

good luck op, don’t get drawn into long, expensive, acrimonious path if there is not much to fight over! And if you generally gave a view of your family assets try to agree between you

Oh and I, nor many others never ever completed a form e not provided bank statements or anything as was not needed