Can I Refuse Financial Disclosure

Can I Refuse Financial DisclosureI 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
  • capital
  • income

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.

JUST FAMILY LAW are specialist divorce and family lawyers. We offer Pay as you go costs. We offer Collaborative law solutions tailored to your family’s needs.

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.

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What is Collaborative Family Law?

What is Collaborative Family Law?What is Collaborative Family Law?

An opportunity to shape your future after divorce and avoid the expense and heartbreak of Court proceedings.

But how does Collaborative Law work? You have a series of positive meetings with your ex and both your solicitors. The process is holistic and aims towards a result tailored to your needs.

You agree not to go to Court …

Yes, that’s both you and your solicitors. This means all are one hundred percent invested in reaching an out of Court settlement. You sign a Collaborative Law Participation Agreement to:

  • be open and constructive
  • respect each other
  • provide financial disclosure

You set out your hopes and aspirations …

Your Anchor Statement will be your opportunity to create a new and positive future for yourself and your family. Your solicitor will focus on your vision and help you to achieve it.

There will be disclosure of all finances. This is a requirement in any form of negotiation or Court proceeding. See my blog Financial disclosure on divorce – 10 things you need to know

Set your own timetable and agenda for meetings …

Every family is different and you can decide what’s most important for yours. You may be very concerned about what’s going to happen to the family home. Or perhaps

  • your pension or
  • inheritance

See my posts Pensions on divorce – what can you expect  and How to protect inheritance on divorce

Or perhaps the children are finding it hard to adjust. Family consultants who practise as counsellors or life coaches can help manage the separation and can be directly involved in the Collaborative Law process too.

Lay your cards on the table …

What do you want to achieve? Inevitably some compromise is required. But hopefully by the third or fourth meeting an agreement is reached. This becomes a Consent Order. See my blog Quick divorce or safe divorce? to understand why an Order is always vital.

Your personally tailored agreement and Consent Order will be more relevant to your family than an Order made in Court proceedings. For example you can agree where the children will live and how to co-parent.

Your Collaborative lawyer will help you stand up for your needs and for your children. You will have a positive foundation for the future.

What is Collaborative Family Law?

Contact Collaborative Lawyer Joanne Houston on 01962 217640 for an initial free of charge consultation. In this 20 minute session, she will answer your question, “What is Collaborative Family Law?” and show how it can be a beneficial process for you and your family.

JUST FAMILY LAW are specialist divorce and family law solicitors. We offer Pay as you go costs. We offer Collaborative law solutions tailored to your family’s needs. 

The topics covered in this blog post What is Collaborative Family Law? 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 Ministry of Defence (MoD) civilian and military staff are pictured at a meeting in Main Building, London by Harland Quarrington on Wikimedia

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Financial Settlement On Divorce, How To Get The Best One For You – 5 FAQs

Financial Settlement On Divorce

  1. What’s The Best Way To Tackle Your Financial Settlement On Divorce?

By all means come to an agreement about the matrimonial finances between yourselves. But make sure you obtain advice from an expert family solicitor to ensure it’s a fair deal. This could save you money in the long term because the wrong financial settlement can affect the rest of your life.

Your solicitor should advise you of your options such as negotiation, mediation or collaborative law. But if these don’t work, Court proceedings might be the answer. Your solicitor will tell you how much these options are likely to cost.

  1. What Happens First?

All the matrimonial assets are utilised to provide a fair settlement for both of you. So you both need to provide information about every single one, whether owned in your joint names, or in your sole names:

  • The value of the family home (and any other property) and the size of the mortgage
  • Bank and building society accounts
  • Shares
  • Pensions
  • Any other investments
  • Debts

And you will both need to provide details of your income and outgoings, too.

  1. Which Assets Are Non Matrimonial? 

Can you protect your inheritance on divorce? How can you ring fence your business? How about property owned pre-marriage? You will need expert legal advice to answer these questions. But you must, first of all, disclose the existence of these assets, and their value.

  1. How Are Assets Divided For Your Financial Settlement On Divorce?

The starting point is equal division. But the Matrimonial Causes Act tells us we must also consider various factors, and any one of these could mean an adjustment to income or capital. The list of factors includes:

The Welfare Of Any Children
Income and Earning Capacity

The approach is to achieve a “clean break” between couples by capital adjustment rather than ongoing maintenance.

Financial Needs

If there are children, the parent with whom they live is likely to have a greater need for capital.

Standard Of Living During The Marriage

In rare cases where there is an excess of capital and income, this is an argument for a greater share.

Your Ages, And The Length Of The Marriage

There are different considerations depending on the ages of the couple, and whether it’s a short marriage or a long marriage.

Any Physical Or Mental Disabilities

This could be a case for ongoing maintenance, or extra capital.

Contributions To The Marriage

High achievers can attempt to ring fence their “stellar contribution

5.         Is A Court Order Required?

A Court order means if one of you changes your mind, or if one of you comes into money, there’s no going back for a second bite of the cherry. And it’s a relatively simple matter for a solicitor to draw up an order and to send it to Court. Ask for a fixed fee quote.

Contact Joanne Houston on 01962 217640 for free advice on your financial settlement on divorce. In this 20 minute session we will:

  • Review your matrimonial financial situation and how you can achieve your objectives
  • Give you an overview of how a suitable financial settlement may be achieved by either negotiation, collaborative law, mediation, or Court procedure

JUST FAMILY LAW are specialist divorce and family law solicitors offering personalised legal solutions. We offer collaborative law which is especially relevant in providing solutions tailored to your family’s needs. This includes same sex couples and their families.

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The topics covered in this blog post are complex and are provided for general guidance only. Therefore if any of the circumstances mentioned in this blog have application to you, seek expert legal advice.

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