Financial Disclosure: What is it, and why does it matter?
Posted on 20th February 2025
When going through a divorce or financial settlement one of the most crucial steps is providing full and accurate financial disclosure using Form E.
This document plays a key role in ensuring a fair division of assets, allowing both parties—and the court if necessary—to have a clear picture of the financial situation.
What is Form E?
Form E is a detailed financial statement used in family court proceedings to disclose your financial circumstances. It
covers:
Income – from employment, self-employment, benefits, pensions, and investments.
Assets – including property, savings, shares, and other valuable possessions.
Liabilities – such as loans, mortgages, and credit card debts.
Pensions – details of any pension funds.
Living expenses – an estimate of monthly spending to show financial needs.
Both parties in a financial settlement are required to complete this form, ensuring transparency and fairness in reaching an agreement.
Why Accurate Financial Disclosure Matters
Providing accurate and honest information in Form E is essential. Courts and legal professionals rely on this disclosure
to determine fair settlements. If you make errors, even unintentionally, or fail to disclose certain assets, it can cause
serious complications such as:
Delays in proceedings – Errors or missing information can lead to requests for further documents, slowing down the process.
Additional legal costs – The longer it takes to resolve disputes, the more expensive it becomes.
Loss of credibility – If a court finds that you’ve hidden assets or misrepresented your finances, you could face penalties, including an adverse costs order.
Unfair settlements – Incomplete disclosure may result in an agreement that does not reflect your actual financial needs and rights.
The Pitfalls of Poor Financial Disclosure
Some common mistakes people make when completing Form E include:
Failing to include all bank accounts – even if they are rarely used or have minimal balances.
Underestimating the value of assets – such as property, shares, or pensions.
Not providing supporting evidence – bank statements, mortgage statements, and payslips must be attached.
Guessing figures instead of obtaining accurate values – which can lead to disputes and reassessments.
Do You Need a Lawyer to Complete Form E?
Many people assume they need a solicitor to prepare Form E, but in reality, much of the work is administrative.
Solicitors charge by the hour, and having them fill out a form with information you already have can be an expensive
way to manage the process.
Instead, using online resources like Divorce Without Lawyers can save thousands of pounds.
Final Thoughts
Completing Form E properly is essential for securing a fair financial settlement in family proceedings. While the form may seem daunting, but taking the time to get it right will save time, money, and stress in the long run.
If you’re going through a divorce or financial separation, consider whether you need a solicitor for every step of the process.
Using trusted online resources such as Divorce Without Lawyers can help you manage the paperwork effectively while keeping costs under control.
After all, the goal is a fair settlement, not an unnecessarily expensive legal battle.
For more help...
For more help with divorce proceedings without lawyers, visit our Facebook group and take control of your case today.
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