You may be undergoing a divorce with your former partner and may also be worrying about your financial settlement. If your matter is proceeding through the family courts, you may have been ordered to complete a Form E. This is the document that must be completed if you are negotiating a financial settlement in the course of your divorce proceedings. The Form E is a detailed document in which information regarding the spouse’s financial position is exchanged. It can also be frequently used even where court proceedings have not yet commenced and can be used as a tool to obtain financial information relating to your spouse or civil partner.
What is a form E?
A Form E is a detailed financial document that is required to be completed in divorce and matrimonial finance proceedings. The document requires you to provide information on your income, assets, pensions and expenses. The document can also be used to provide information on the financial needs of yourself and any dependent children. A form E must be completed where a matter has been issued with the family court and can also be completed voluntarily in an attempt to resolve the matrimonial finances amicably. This is only compulsory where a separating couple is requesting the courts to provide a financial order following a marital breakdown.
Why is a form E needed?
A Form E, if completed properly, provides a full picture of your financial position. You will also be receiving your former partner’s details, which will include all their financial information. The Form E is a tool to allow you to properly assess and consider each other’s financial information. When both separating partners complete the Form E accurately and truthfully it is easier to understand what assets and finances are available to be split and allows you to obtain advice on whether a settlement is fair and reasonable.
Why is the Form E so important?
In matrimonial and financial proceedings, the FormE is a very important document. It is extremely important that the document is completed as accurately as possible. This form will be considered in detail by the family court when considering your financial separation matters. It provides you with an opportunity to present your side of the story in relation to financial dealings. A form E should be completed in as much detail as possible to evidence all parts of your financial claim.
It is extremely important that when completing a Form E, for financial settlement purposes, you provide as many details and accurate information. Providing inaccurate or missing information could pose problems during the course of your financial proceedings. This document contains a statement of truth, which means if you provide false or misleading information, you may be committing a criminal offence. Furthermore, an agreement that is ordered can be set aside if it found that you have provided missing or factually incomplete information, which could also result in a costs order against you. Our family lawyers have provided some helpful tips below to assist you with completing your Form E.
Attempt to complete it early
The Form E itself spans over 28 pages and can appear lengthy and daunting. At the time of completing your documents, emotions may be running quite high following your divorce or separation and it may be difficult to maintain a cool head. Attempting to complete a Form E can appear quite complicated and stressful. It is advisable to get started on this early, in order to ensure you have enough time to obtain and collate the supporting documents. You will be required to provide your bank statements, wage slips, property documents as well as any pension documents which you may need to obtain from the providers.
Be open and honest when completing your Form E
Being open and honest in your financial disclosure can help resolve your finances quickly, efficiently and effectively. By providing true and accurate information, you will be able to reduce your legal costs and are more likely to obtain a settlement that is fair and reasonable and can be secured earlier.
Providing false or misleading information could cause significant delays in reaching a financial settlement. Your former partner is likely to question the details you provide, and this can subsequently take longer and increase your costs. If the courts find misleading and inaccurate information has been provided, then the agreement you reach could be set aside at a later date and you could be liable for adverse costs.
Take each section at a time
Attempting to complete the Form E in one evening could be quite challenging. You must ensure you provide yourself time to consider the questions and your responses in detail. Our family lawyers have noted that considering each section at a time as opposed to the whole form in one go can assist you with digesting the information requested and provide adequate responses. As advised, you should give yourself ample time to ensure you do not rush the process and miss out on key details, which may not be considered at a later date.
Obtain valuations of assets and properties where you are unsure
You need to ensure you provide accurate information where possible when completing a form E. Our family law specialists, therefore, advise that you do not attempt to work out valuations yourself. You must consider seeking expert opinion where valuations are concerned in order to avoid the need for these to be questioned.
Obtain legal advice and assistance
A Form E is one of the most important documents the courts will consider when dealing with financial settlements. This is complex and needs to be completed accurately. Quite often, Family Lawyers can provide you with detailed guidance and advise you on the supporting information you need to provide. You do not have to utilise a family law practice for the full duration of your divorce and matrimonial proceedings, but you can get advice or assistance on checking your Form E and to help you complete the documents to avoid any discrepancies and issues which could affect and delay your settlement.
Kabir Family Law provides advice and assistance on all family law matters. Should you require advice on completing your Form E then contact them today for an initial consultation.