Divorce lawyers are often faced with the task of discovering hidden assets in divorce proceedings.
Husbands and wives are expected to provide full disclosure of their financial situation, in the event of an application to Court by one of them for a financial settlement.
A document called a Form E has to be completed by both parties. The Form E sets out their financial position, and attaches bank statements, P60s, salary statements for the past 12 months and if applicable, company accounts for any company in which a spouse has an interest for the last two years, together with property valuations for all assets of the marriage.
Once Forms E are exchanged, each party has the chance to ask questions, in an effort to ascertain their spouse’s true financial position. This may involve appointing an accountant to go through documents to go through the disclosure.
Judges take a very dim view of hiding assets and non-disclosure. Courts have immense powers to make Orders to ensure spouses get what they are entitled to.
For anything further, one of our specialists would be delighted to meet you to talk through your options and answer any questions. Please contact us at any time.