What is a Form E?

1. Property valuation

The Form E asks for detailed information about any property you – or your partner – own, including:

• Current valuations, or any obtained in the last six months

• Up-to-date mortgage redemption statement for all applicable properties

2. Bank details

All bank accounts, building society accounts, and National Savings accounts held by either party over the previous 12 months (including joint accounts) must be fully detailed in Form E.

5. Assets

Details of all monies owed to a party must be included, as well as all cash sums held of more than £500. Similarly, all personal belongings individually worth more than £500 must be included too.

6. Debts

All liabilities should be disclosed, with details of who the debt is owed to and the amount. This includes:

• Credit/store cards

• Bank loans

• Hire purchase agreements

7. Capital gains

If capital gains tax might be payable, then it is good practice and expected that a calculation should be included in Form E, as clearly this affects the net value of the assets.

11. Income needs

Each party will also be required in their Form E to set out a schedule of their monthly or annual income needs, both for themselves and for any children.

Plus, their ‘capital needs’, i.e. the funds they may require to purchase a property, replace a motor vehicle, or undertake essential repairs on their home.

12. Other relevant factors

Other narrative sections towards the end of Form E require details of any significant changes in assets or income over the preceding 12 months or in the following 12 months, any nuptial agreements or inheritance prospects, details of your standard of living during the marriage and any particular contribution (financial or otherwise) that should be taken into account.

Statement of truth

At the end of Form E, each party must sign a ‘statement of truth’ that confirms that the information they have given is a full, frank, clear, and accurate disclosure of their financial and other relevant circumstances. It includes a warning that anyone making a false statement on Form E may face contempt of court charges.

You don’t have to do it alone, our expert lawyers are here to help

It is advisable to seek independent legal advice from a family law specialist if you complete a Form E.

If the factors listed are all taken into account when completing a Form E, you are far more likely to avoid unnecessary delays, costs, and questions later on – a divorce lawyer can help you do precisely that.

Our divorce experts have helped many people with Form E and divorce settlements, let us take the stress away so you feel confident in your future. Reach out to Stowe Family Law today to find out more.