What Is Financial Disclosure and What Is Form E in Divorce?

Financial disclosure is the process of providing sufficiently clear and supported information about a person’s financial circumstances after separation or during divorce. It allows both parties to understand the financial position before settlement proposals are sensibly assessed or final terms are agreed.

Why is financial disclosure important?

A proposed settlement may affect housing, pensions, savings, income, businesses and liabilities for many years. Each party generally needs a reliable picture of the material assets, income, needs and debts before deciding whether a proposal is informed and workable. Disclosure is not the same as agreeing how everything should be divided; it provides the evidence from which advice and negotiations can proceed.

For defined-scope support with disclosure and settlement proposals, see Financial Separation, Settlement & Consent Order Support.

Voluntary disclosure and formal court disclosure

Voluntary financial disclosure takes place outside formal financial-remedy proceedings. The parties may agree what information and supporting documents to exchange, sometimes using Form E or a similar schedule as a practical framework. The appropriate scope depends on the circumstances and the purpose of the exchange.

Formal disclosure takes place within Family Court financial-remedy proceedings and is governed by court rules, directions and deadlines. The court commonly directs each party to complete Form E, provide specified documents and answer relevant questions arising from the disclosure. The official procedure is set out in Family Procedure Rules Part 9 and its supporting practice directions.

What is Form E?

Form E is a detailed financial statement commonly used in financial-remedy proceedings following divorce or dissolution. It asks for information about a party’s personal circumstances, income, capital, liabilities, pensions and financial needs, with supporting documents. The completed form is verified by a statement of truth.

The current form and public guidance should be checked before use. GOV.UK provides the official Form E financial statement.

What information does Form E cover?

Property and mortgages

Information may be required about the family home and other land or property, ownership, estimated value, mortgages, secured borrowing, sale costs and occupation. Up-to-date valuations or further evidence may be necessary where value or ownership is disputed.

Bank accounts, savings and investments

Current accounts, savings accounts, ISAs, shares, investment portfolios and other financial holdings generally need to be identified. Statements help show balances and relevant transactions over the required period.

Pensions

Workplace, private and other pension interests can be significant even where benefits are not yet being paid. Scheme details and appropriate valuation information may be required. Complex pensions may need specialist actuarial or pension advice.

Businesses, shares and company interests

Sole-trader businesses, partnerships, directorships, shareholdings and other company interests may require accounts, tax information, ownership documents and valuation evidence. Business value, liquidity and income are separate questions and may need specialist assessment.

Income and employment information

Disclosure commonly addresses salary, bonuses, benefits, self-employed income, dividends, rental income and other receipts. Payslips, a P60, tax returns, accounts or other evidence may be needed depending on the source of income.

Debts and liabilities

Mortgages, loans, credit cards, tax liabilities and other debts should be identified with supporting balances and an explanation where appropriate. The existence of a debt does not automatically determine how it will be treated in a settlement.

Supporting documents and further information

Form E is supported by documents rather than standing alone. If information is missing, unclear or inconsistent, further documents or written questions may be requested. In court proceedings, the judge may give directions about questionnaires, replies, updated disclosure, valuations or expert evidence. What is proportionate depends on the issues and the court’s directions.

Why incomplete or inaccurate disclosure causes problems

Incomplete, misleading or inaccurate disclosure can delay negotiations, increase cost and make it difficult to assess proposals. In formal proceedings it may lead to further questions, applications, costs consequences or other court action. A settlement or order reached without material information may also be vulnerable to later challenge in some circumstances. A person completing a statement of truth must take particular care that the information is honest and accurate.

What documents should I start gathering?

Depending on the circumstances, a useful starting bundle may include:

• Property ownership information, recent valuations and mortgage or secured-loan statements.
• Statements for bank and current accounts.
• Savings, ISA, shareholding and investment statements.
• Pension statements, scheme details and available valuation information.
• Recent payslips and a P60 where employed.
• Tax returns, calculations and business accounts where self-employed or involved in a business.
• Loan, credit-card and other liability statements.
• Any disclosure already exchanged and existing settlement proposals.

The correct period and exact documents depend on whether disclosure is voluntary or court-directed. Do not alter, selectively omit or recreate records; preserve the available originals and explain genuine gaps.

When specialist advice may be needed

Specialist pension, valuation, tax, business or forensic-accountancy advice may be required where the financial picture is complex, value is disputed, assets are held through companies or trusts, transactions need investigation, or tax and implementation consequences are material. Overseas assets may also require advice in another jurisdiction.

How Phrasing Legal may assist

Subject to conflict, suitability and agreed scope, Phrasing Legal may help organise voluntary disclosure, review financial documents or a draft Form E, identify apparent gaps, prepare an asset-and-liability schedule, explain the information requested and support settlement preparation.

Phrasing Ltd does not formally conduct financial-remedy proceedings, go on the court record, file Form E or other documents as the client’s solicitor, manage service or court deadlines, prepare and file the final consent order, or exercise rights of audience. Formal litigation conduct, filing and advocacy must be handled by the client personally or by a separately instructed appropriately authorised practice.

Related guidance: Does Divorce Automatically End Financial Claims? · What Is a Clean Break Order and Do I Need One After Divorce? · Divorce Advice & Self-Application Support.

Frequently asked questions

What is Form E?

It is a detailed financial statement commonly used in financial-remedy proceedings. It records financial circumstances and is accompanied by supporting documents and a statement of truth.

Do both spouses complete Form E?

In formal financial-remedy proceedings, the court will commonly direct both parties to complete and exchange Form E. The applicable order and timetable must be checked.

Do I need Form E if we agree?

Not necessarily in every voluntary settlement, but sufficient financial information is still important. A shorter disclosure method may sometimes be agreed, while a consent-order application requires prescribed financial information. Individual advice can help identify what is appropriate.

What is voluntary financial disclosure?

It is an agreed exchange of financial information and documents outside formal court proceedings. Form E may be used voluntarily as a structured framework, but the exchange is not thereby converted into court proceedings.

How many bank statements might be required?

That depends on the process, any agreement and any court direction. Form E and the current procedural requirements should be checked rather than assuming one fixed period applies in every situation.

Do pensions need to be disclosed?

Yes, material pension interests generally form part of the financial picture. The type of valuation and whether specialist advice is needed depend on the pension and the issues in the case.

What if my spouse does not disclose an asset?

Do not assume concealment without examining the evidence. Missing or inconsistent information may justify focused questions, document requests or, in proceedings, an application for appropriate directions. Obtain advice about the facts and the proportionate next step.

Can Phrasing Legal review my Form E?

Potentially, as a defined document-review or preparation task, subject to conflict, suitability and scope checks. You remain responsible for the accuracy of your disclosure and any formal submission unless an authorised practice is separately instructed.

Can Phrasing Legal file Form E or conduct my financial-remedy case?

No. Phrasing Ltd does not go on the court record, file or serve Form E as your solicitor, conduct financial-remedy litigation or represent you at a hearing through this service. An appropriately authorised practice must be separately instructed where formal conduct or representation is required.

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