Answer

In England and Wales, both parties in a divorce have an ongoing duty to provide bank statements, and any other relevant financial information, to reach a financial settlement

It has to be a full, frank and clear disclosure that shows the last 12 months of each account in each person’s sole name. Honest disclosure is the best policy to enable your solicitor and the court to reach a fair decision so that no one is treated unfairly. 

It certainly isn’t worth the risk of failing to provide a full picture of your finances. If this happens, the other party who suspects that you are hiding information, can make an application to court which can then order you to disclose all your relevant finances within a given time period. 

Failure to meet this time restriction could find that you are in contempt of court which may result in a fine or a prison sentence. The court could also order you to pay the legal costs of the other party. Therefore, monetary openness certainly goes a long way towards creating trust between both parties, so that the whole process runs as smoothly as possible and a satisfactory financial settlement can be agreed upon.

Contact Us

At GloverPriest, we understand navigating the law can be a difficult task to take on alone. That’s why we created this comprehensive guide to help promote information for everyone to use.

If you’re looking to speak to a solicitor, please call us from the number below. Alternatively, you can fill out our online form and we’ll be right with you.

Phone Icon 0121 794 5814

Take a look at some of our more frequently asked questions.

We are confident you'll find the information useful, and if you would like to know more or your question is not covered please contact us using our contact form at the foot of the page, or alternatively call us.

We use cookies to improve your experience and to help us understand how you use our site. By using this site, you accept our use of cookies. Learn more x