I understand why sometimes clients ask, “Can I refuse financial disclosure.” Your relationship has broken down and now your ex, or your ex’s solicitors, are asking intrusive questions. You object because:
- you’ve already reached a perfectly sensible agreement between you, or
- you want your business, inheritance or pension left out of the settlement.
There’s a lot at stake so make sure you get expert legal advice.
Why is financial disclosure requested
You’ll only know you’re getting a fair share of the matrimonial income and assets if you understand their extent. Your ex’s solicitor will be advising your ex the same. However this doesn’t mean your ex automatically gets a share of everything. When you disclose you can argue an asset is non matrimonial, for example:
- an inheritance postdating the relationship breakdown, or
- a pension you built up before the marriage.
See my blog Ring fence and protect assets on divorce
Further, if your business is small and represents your income, it’s unlikely it’ll be thrown into the mix. See my blog How to protect business on divorce.
What if you’ve already agreed a financial settlement
Did you know that the Court won’t make an order without seeing a Statement of Information for Consent Order. This is a Court form containing basic financial information about both of you.
What is a “Statement of Information for Consent Order” and why is it necessary
This document contains the following information from both of you:
- details of marriage/civil partnership
- dates of birth
- financial agreement
- summary of means
The Court checks this document to make sure your financial agreement is fair and reasonable.
What if you provide inaccurate disclosure or hide assets?
See my blog Financial Disclosure on Divorce – 10 Things You Need to Know. This tells you about:
- costs consequences, and
- adverse inferences, and
- the worst case scenario, being found to be “in contempt of Court”, and
- the ultimate sanction, imprisonment.
Why do you need a consent order?
For more about consent orders and how to get one see my blog How do I get a consent order
Can I refuse financial disclosure
Contact Family Lawyer Joanne Houston on 01962 217640 for an initial consultation on Can I Refuse Financial Disclosure. In this 20 minute session she will review your situation and how you can achieve your objectives.
The topics covered in this blog post Can I Refuse Financial Disclosure are complex. They are provided for general guidance only. If any of the circumstances mentioned in this blog apply to you, seek expert legal advice.
image for Can I Refuse Financial Disclosure Runner in Chicago by Kyle Cassidy on Wikimedia. This image has been changed.