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Form E Divorce

A Form E in divorce proceedings is the statement on which the parties set out their respective financial situations. When a couple’s assets are considerable or complex, enlisting the assistance of a forensic accountant can ensure your Firm E is prepared as swiftly and accurately as possible, and that your ex-partner’s Form E constitutes full and frank disclosure of their assets.

The team of expert forensic accountants at Frenkels Forensics specialise in supporting clients and their legal advisors in getting to the bottom of the financial aspects of a separation. We understand that work of this nature needs to be handled with care and empathy, and we approach each matter with the requisite sensitivity and discretion. By assisting our clients in quickly resolving the financial issues arising from their divorce, they can feel reassured that they have achieved a fair settlement and can focus on building a positive future.

What Is Included In A Form E In Divorce?

A Form E in divorce proceedings contains detailed information about your financial position and needs, including the needs of any children.

Examples of the types of information you must provide in your Form E include the following:

• Property
• Personal assets
• Bank accounts
• Savings accounts
• Business assets and directorships
• Life insurance policies
• Income
• Pensions
• Investments

When Do You Need A Form E In Divorce?

You must complete a Form E if either you or your ex-spouse apply to Court for a financial settlement following your separation. The Judge will use the information contained in the forms to decide how your assets should be divided. Form E can also be used as a helpful guide when giving voluntary financial disclosure ahead of issuing proceedings.

What Role Does A Forensic Accountant Play With Regard To Form E In Divorce Proceedings?

A forensic accountant can be an invaluable addition to your legal team in relation to the financial element of your divorce proceedings. Examples of the types of tasks we are regularly asked to undertake on behalf of our clients include the following:

• Completing Form E

The requirements of Form E, and the need to get it right, can appear daunting. We can assist you by locating all relevant assets and liabilities, valuing them and completing the form on your behalf.

• Identifying And Highlighting Missing Information

Our experience in divorce financial settlements enables us to spot any information that might be missing from your ex-spouse’s Form E. For example, they may have provided incomplete documentation, such as withholding pages of bank statements, or the documentation presented may cover a suspiciously short period of time. They may have neglected to include key investments or trusts of which they are a beneficiary. All of this information is required to facilitate a fair settlement, so where any gaps are identified, we will notify your legal team, who will liaise with their counterpart to insist on full disclosure.

• Identifying And Highlighting Inconsistencies And Inaccuracies

Sometimes, a party to divorce proceedings may provide inaccurate or inconsistent information in their Form E in an attempt to deliberately evade giving full and frank disclosure. Other times, their omissions are simply unintentional mistakes. Whatever the reason, inaccurate information can lead to an unfair outcome, so it must be identified and addressed.

Examples of the types of inaccuracies or inconsistencies we have come across when reviewing a client’s ex-partner’s Form E include the following:

• High income but low cash reserves.
• Shareholdings disclosed but resulting dividend payments omitted.
• Reported income at odds with underlying documentation.
• Outdated valuations given of assets such as property or shareholdings.
• Excessive payments on account made to HMRC.
• Alleged loan liabilities unsupported by documentation.
• Information, in general, does not correlate with lifestyle.

Inconsistencies of this nature may indicate that your ex-spouse is seeking to hide or suppress their assets to put them out of reach for the purposes of your divorce settlement. For example, they may have transferred certain assets to offshore accounts, overpaid their creditors, or diverted sales to companies in which they have an undisclosed interest.

Any inaccuracies or inconsistences uncovered by our work must be raised with the other side, and clarification or correction sought. Sometimes, we may need to undertake our own independent investigations to ensure complete transparency, for example contacting your ex-spouse’s accountant or business partners to ascertain the true value of their assets.

Form E is a crucial document in divorce proceedings, enabling the Judge to determine a fair financial settlement. Even if you and your ex-partner seek to agree a settlement amicably without the Court’s involvement, it is often prudent for you both to complete a Form E to ensure full and frank disclosure and facilitate meaningful negotiations. Involving experienced forensic accountants, like us, in the exercise, guarantees that the information you provide is complete and accurate, and the information presented by your ex-partner is a true and accurate picture of their financial situation. As a result, you gain peace of mind that you have been treated fairly and received the financial settlement to which you are entitled.

To discover more, please call us on 0330 118 8200 or Make An Online Enquiry.

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