Without financial disclosure it is very difficult for your divorce solicitor to advise you about likely outcomes. The main reason for this is that it can be difficult to see what is financially at stake without a full and relevant financial disclosure.
Can I refuse to disclose my finances?
There is a fundamental duty to provide up to date and continuing financial disclosure. Even where you reach a financial agreement or consent order the Family Court needs to approve the settlement. As part of this process, you both need to complete a summary statement form, called a D81. This sets out some background information to include details of your respective assets, liabilities, income, and pension provision.
If you have not disclosed fully or properly then there is a risk that your financial settlement or consent order could be set aside, meaning that you must start the process all over again. The Family Court also has power to take someone’s conduct into account and penalise them whether by ordering a lesser settlement or by way of a costs order. You could also be help in contempt of court.
We acted for a wife in a financial remedy case. Following the exchange of financial disclosure, it became apparent that the husband had spent £500,000 in 3 years, largely on gambling. We were successful in our argument that these monies should be added back into the matrimonial pot and so essentially in lieu of the husband’s remaining settlement.
Our simple 4-step process
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How can we help you?
We are specialist divorce lawyers in financial remedy cases. Part of our work involved complex financial and valuation issues. We often work with forensic accounts to trace assets and to ensure the best possible outcome.
We are ranked in Tier 1 of the Legal 500 for family law in 2023 and have a very strong and in-depth team.
Divorce finance lawyers you can trust
Maguire Family Law are experts in all aspects of divorce finance law and we can inform you of your legal rights and the strength of your case. We’ve helped so many people in so many varied situations, there’s no problem too big or small for us to assist you with.
Contact us for a no-obligation assessment of your case.
We are rated in Tier 1 of the Legal 500 – a law firm you can trust.
Our friendly team are experts in international family law.
We have an award-winning team of solicitors to help you.