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Divorce financial disclosure years later

6 replies

TwoTuesday · 24/10/2024 12:57

Just wondering if anyone has experience of this. Partner split with wife 10 years ago when they had been married about 20 years. They agreed finances between themselves when they split. He had all the equity in the house transferred to her, no other assets or joint finances. They earned similar money and had similar pension arrangements, kids were adults when they split up.
He's only just got round to divorcing her, which she's agreed to, and she's now asking for financial disclosure. I feel very stupid that I believed him when he said his finances with her were all sorted, because we bought a house together 2 years ago and now I am worried I'll lose my home to pay off his ex. I paid the deposit and all the legal fees from my own funds and we own it as joint tenants sharing the mortgage costs. I've got 2 kids who live with me.
What on earth am I going to do. I know I am an idiot, before anyone tells me that!

OP posts:
prh47bridge · 24/10/2024 13:08

He has to get a financial settlement to ensure she cannot make any claims against him in future. In order to get a financial settlement he has to make a full disclosure. That does not necessarily mean she is going to get anything from him. She also has to make a full financial disclosure, which doesn't necessarily mean he is going to get anything from her.

As she has the former marital home and they have been separated for 10 years, she may not be entitled to anything more than she has already had. You and your children will definitely not be left homeless. So don't panic. There is a good chance you have nothing to worry about.

ByQuaintAzureWasp · 25/10/2024 14:56

Yes. Friend, agreed financial split, then divorced. Years later he came back for more as financial split not agreed via courts and signed off.
You were very unwise not to protect your deposit, whatever the situation.

TwoTuesday · 28/10/2024 12:43

May I ask what happened? In my partner's case, all the assets went to his wife when they split (not pensions though) but form E only asks about current assets- there's no space to say that she had them all 10 years ago. If she's transferred the house to kids etc, on paper she'll have nothing.
All the case law on claiming post-separation assets seems to refer to multimillionaires, which is really not helpful for normal people. He'd be happy to give her all his pensions I think, just to have an end to it, and to avoid spending on legal fees in a court case (even though she's probably got just as much) but it will cost thousands to get them valued before we even start.
Form E is also asking for my finances which I am really not keen on revealing to a stranger, what a massive mess.

OP posts:
prh47bridge · 28/10/2024 13:34

Form E is indeed only concerned with the current position. However, the former marital home hasn't vanished into thin air. If she still owns it or another property, she will have to declare it on her form E and that will go into the pot to be shared between them.

The cases that get publicity are those involving large sums of money. However, the basic principles apply to all cases. She has lived independently from him for a decade and has all the equity in the former marital home. This will all be taken into account when determining what, if anything, she is entitled to from him (or, indeed, what he is entitled to from her).

Whyherewego · 28/10/2024 13:37

You can refuse to complete form E and wait to be forced to do by court. I believe I've seen previous threads on that.
I wouldn't worry overly, right now he's got more drain on income than she does it would seem

Quitelikeit · 28/10/2024 13:41

as you have been advised above by a lawyer it is totally normal to declare your financials in order to get a final divorce

no need to panic as she has the house! If she wants to start going after assets he is entitled to do the same - also very ott to say he would give her his pension! Is that just to keep your quiet?

Kindly - calm down

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