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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you have to complete a Form E if not yet gone to court

  • Nebulus
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15 Aug 20 #513688 by Nebulus
Topic started by Nebulus
I was hoping to reach a settlement with my ex without a form E. Is this possible? I read a judge would still need to approve a Consent Order and might throw it out if not felt fair

  • hadenoughnow
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15 Aug 20 #513689 by hadenoughnow
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Any settlement must be based on full financial disclosure. form E completed on a voluntary basis is an easy way to achieve this. It is often used by solicitors in the early stages so they can advise their clients effectively.

Is it the form you object to or is there something that you dont want to disclose?

Hadenoughnow

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19 Aug 20 #513748 by Nebulus
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This is where it doesn't seem to be clear. There seems to be examples of when full disclosure wasn't done and form E wasn't used, but still the settlement went through

  • .Charles
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19 Aug 20 #513750 by .Charles
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When hadenoughnow says "Any settlement must be based on full financial disclosure." it is based on the assumption that a party would be ill-advised to reach a settlement when the base of assets is unknown.

I've seen cases where one party insists that they want to settle "no matter what" and forego any claim for assets. However, once the ink is dry on the settlement, they find out that the base of assets is far larger or that there were hidden assets about which they could have asked but lost the opportunity to do so.

If you don't ask for disclosure you don't know if you are selling yourself short (or you might be in a position where the other party is selling themselves short).

Where there is no disclosure an order which is made by the court may be set aside at a later date. This is rare as reasons are required for a set aside but non-disclosure would be chief amongst those reasons.

In short, disclosure is not required to obtain an order from the Court. However, the Court will require a certain amount of information in the statement of information that accompanies an application for a Consent Order.

The statement of information is a 'snapshot' of the finances at the date of application and should be an abridged version of the parties' finances.

Charles

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