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Personal Endowment Policy Surrendered to Pay Debts

  • Warren2922
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16 Sep 12 #356161 by Warren2922
Topic started by Warren2922
Morning,

I am at present filing my form E for financial settlement, and am wondering if I have to submit information on a personal endowment policy that I was forced to surrender during the divorce marathon to pay rising debts. It was in the main used to pay solicitors fees?

Thank you in anticipation

Warren

  • TBagpuss
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19 Sep 12 #356688 by TBagpuss
Reply from TBagpuss
it would be sensible to disclose it - it would be relevent to the section of the form E which asks whether your circumstances have changed in the past 12 moths (assuming it was surrendered in that period)

Also, if you don''t dislclose it it may give the appearance that you have not been candid in providing your information - it'' likely that your ex knows you have/had the policy, and presumably the premiums will show on your bank statements, so its likely that your ex or her solicitors will query it in any event. Disclosing it upfront savestime and ensures that you don''t look as though you are hiding anything.

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