H has 'hidden' savings. Can I do the same? Divorce question.

[Bewilderedotcom]

I am considering a divorce as my marriage has been rocky for a long while.

My H has told me he has 'hidden' £20,000 of his savings (not joint money). Maybe put an account in someone else's name, I don't know.

I have £15,000 savings plus £5K in an ISA in my sole name and am thinking of putting it into my sisters name.

We are both in pension schemes.

He has assets like a BMW and a jetski. I just have a small car. Our house is jointly owned and mortgage paid.

Financial settlement wise all I want is half his pension rights and he can have half mine (his is bigger!), half the house. I don't want any assets or his savings.

I can't prove or find his savings accounts and my fear is he will be entitled to half mine, hence I want it in my sisters name. I know this is all a bit wrong, but I want it to be fair.

What efforts are made to 'find' hidden money by the court, or is it dependent on honesty. I know he will lie so frankly so will I.

Will the financial side be worked out in mediation? I want to represent myself as it's very simple with no children involved.

Honesty is the best policy. A dim view is taken of hiding or disposing of assets to prevent/reduce a spouse's financial claim and the courts may add back the value of the assets and take them into account when sharing the other family assets or set aside aside the disposal. There are sanctions and penalties for non disclosure and when hidden assets come to light later the divorce settlement can be set aside so the costs of non disclosure can be hefty and make it not worthwhile.

It's possible to agree a divorce settlement between yourselves or with the help of a mediator. In England & Wales the agreement can then be drafted into a "Consent Order" which is legally binding once ratified by the courts. When the Consent Order is sent to the courts the parties are required to send a disclosure of assets held in joint or sole names.

Many thanks.

That's pretty much as I thought would be the case. I want to keep costs as low as possible as it would otherwise be a very simple divorce. Mediation would be the route I favour.

My fear is he will put a financial gun to my head to not pursue my savings provided I leave his larger pension alone, which will leave me unable to live in anything but poverty (fuel poverty/no car etc). I am retired and have family commitments which would make working again very difficult.

As you say my best option is to put it to him that he will be in a serious situation if he lies about hidden assets. He is expecting a large lump sum as part or a pension payout soon. If I can get proof he received it or that it was awarded, and then if he hides away, when it comes to financial disclosure and he doesn't disclose, it might be a bit of leverage on him to agree to leave all the saving out of it and just divide the pensions.

I need to take a leaf out of his book