Financial disclosure is simply the process of laying out your full financial picture during a divorce. It means being open and honest about everything you own; such as bank accounts, property, savings, pensions, and everything you owe, like loans or credit card debts. You’ll also need to provide evidence to back this up, usually in the form of bank statements, payslips, pension valuations and other documents.
Both you and your ex-partner are legally expected to give a full and comprehensive disclosure, which basically means nothing should be hidden or left out. Without this transparency, your solicitor cannot properly advise you, negotiations aren’t fair, and the court won’t approve any financial agreement. In short, disclosure is the foundation that everything else sits on.
How Does Financial Disclosure Work?
For most couples, financial disclosure is done using a document called Form E. This form isn’t always compulsory, but it becomes mandatory if your case ends up in court. Even if you are not in a court process, many people still choose to use Form E because it provides a clear structure and helps avoid confusion later on.
Each person completes their own Form E, setting out all of their assets, income and debts, as well as their financial needs for the future. Once both forms are finished, you exchange them with your ex and their solicitor. This allows each side to see the other’s financial situation in full. It’s normal at this stage for solicitors to ask questions if something isn’t clear or if more information is needed.
After everything has been reviewed and the value of assets are agreed, you can begin negotiating a financial settlement. This may be done directly between the two of you, through solicitors, or through a process like mediation. If you manage to reach an agreement, a solicitor will draft what’s called a consent order. This document sets out the agreed financial arrangements and is then sent to the court. As long as the judge believes the agreement is fair and has been based on complete disclosure, it will be approved and becomes legally binding.
Sometimes, though, couples can’t agree, or one person doesn’t cooperate with the disclosure process. When that happens, the case may have to go before a judge. The court can insist on proper disclosure and, if necessary, make a final decision about how finances should be divided.
Being open about your finances is essential because it allows both you and your ex to understand the full picture, making it easier to reach a fair settlement. Your solicitor also needs this information so they can give you proper legal advice; without it, they’re working in the dark.
The court also relies on full disclosure. If the judge doesn’t believe everything has been revealed, they won’t approve the agreement. And if assets are hidden or something significant is left out, the settlement could be challenged later. Proper disclosure helps protect both parties and gives everyone confidence that the final outcome is fair, transparent and final.
Financial disclosure can feel daunting, especially if your finances are complicated or emotions are running high. Getting advice from an experienced family lawyer can make the process clearer and less stressful. In some cases, speaking to a financial adviser is also helpful, particularly when pensions, investments or business assets are involved.
Being honest and thorough from the start makes the entire divorce process smoother. With the right support, you can work toward a settlement that gives you both clarity and security as you move forward.
