Form E is a financial statement prepared and signed by each party in proceedings in the Family Court or High Court for financial orders in a divorce. It is a comprehensive document that requires both parties to set out their financial circumstances in full.
The court uses Form E to inform and guide its assessment of a fair and equitable division of assets, as well as any orders for financial provision. It requires a large amount of information: some can be supplied easily by the parties, some needs input from legal representatives, and some has to come from third parties. The aim is to set out each party’s financial position as accurately as possible.
What information does Form E include?
Form E is broken into five sections.
Section 1 covers general information. The parties provide details of the marriage, any children, their current living arrangements and education, along with relevant health information and current maintenance arrangements.
Section 2 requests the parties’ financial details. This includes any property, land or buildings owned, mortgage providers, bank accounts, savings, stocks, investments and insurance policies, personal belongings worth more than £500 (such as cars or jewellery), debts and liabilities (such as credit cards or loans), and capital gains tax paid or payable. The parties also estimate the equity in any property, along with pensions, trusts, self-employment interests, state benefits, and future assets and income from employment.
Section 3 covers capital needs, such as the capital items the parties and any children need, for example housing.
Section 4 addresses any other relevant factors the court will consider, such as the standard of living, the conduct of the parties, and anticipated changes in circumstances such as plans to remarry or cohabit.
Section 5 asks the parties to set out any specific requests, such as whether a property should be transferred to one party or sold.
Supporting documents for Form E
To support the information in Form E, the parties must attach relevant documents such as mortgage statements, payslips, bank statements, property valuations, insurance policies, pension valuations, and HMRC assessments and documentation.
Dealing with complex or overseas assets
Form E can be much longer where the parties have complex income arrangements, a large number of assets, or assets held abroad. Many people find collating the documents time-consuming, and some find it personally intrusive, as there may be matters they would prefer to keep private.
If assets need updated valuations, time should be factored in accordingly. Translations may be required where documents relate to assets held abroad, and some documents may be held by third parties who need to be approached for their cooperation.
If third parties cannot supply the required documents within the court’s timescales, this must be explained to the other party and the court. In some cases you may need the court’s consent for an extension of time. A judge has the power to make a costs order against any party who fails to provide Form E or the full, correct documents.
Do you have to tell the truth on Form E?
Each party has to sign a statement of truth in Form E. If a party is found to have deliberately lied or misrepresented information, they can be held in contempt of court and could be fined or even face a prison sentence.
How Davisons Law can help
Completing Form E can be a daunting, time-consuming and exhausting process. Our experienced family law team at Davisons Law can ease the burden by advising you on what is required, making sure no information is missing, and helping you deal with complex assets. We can also help with strategy, so that your Form E supports your case and puts you in the best position moving forward. Get in touch with our team today on 0808 3036 987.
