Five steps to financial disclosure

1. Send Financial Packs:
   Once you have both attended your MIAMs, we will send blank Financial Disclosure packs for completion.
   Please complete and return the Financial Disclosure Booklet and Expenditure Schedule within 4 weeks. You do not need to send any supporting evidence at this stage – this will be discussed and requested during your joint session.
   Please note: This email will contain essential information regarding the exchange of financial disclosure, please ensure this is read thoroughly before returning your documents to us.
2. Arrange Joint Session:
   Once we receive both parties’ completed forms, we will contact you to arrange joint session to discuss finances and/or property.
3. Document Exchange:
   One week before the session, we will send a link via email for the exchange of financial documents.
   Please note: Any and all financial disclosure sent to us will be exchanged with the other party.
4. During the session:
   Your mediator will guide discussions around finances and property. If additional supporting documents are required, they will let you know exactly what is needed and set an appropriate deadline.
5. Further sessions:
   Once we receive the supporting evidence from both parties, we will arrange a further joint session. As before, both sets of documents will be shared with you by email one week prior to the appointment.

Is financial disclosure required for mediation?

You and your former partner are legally required to provide a complete and accurate account of your financial situation, including income, assets, pensions, debts, and liabilities.

Inaccurate or incomplete disclosure can result in legal penalties and, in some cases, a reopening of the financial agreement. This underscores the importance of providing a complete account of your financial situation.

What is the point of a financial disclosure?

Disclosing finances in mediation ensures a transparent division of assets and provides reassurance to both parties. For instance, without full disclosure, one party could conceal assets, potentially leading to an unfair settlement. Full disclosure not only protects against any potential future disputes or legal challenges but also prevents them from arising, ensuring a secure and clear financial agreement.

What should you know before completing you financial disclosure booklet (FDB):

• You are able to obtain independent legal advice regarding Full Financial Disclosure.
• For mediation to proceed in any meaningful way Both parties must make full and realistic financial disclosure for fair and transparent mediation – estimates are acceptable if exact figures aren’t available yet.
• If you require additional time to complete your Financial Disclosure Pack please contact us immediately. (We acknowledge that pension information can take 3 months to be received, it is not essential that we
• wait for this).
• Any undisclosed finances should be raised at the start of your first joint session, where Financial Disclosure Packs will be discussed and any gaps or questions explored.
• If there is more than 3 months between Financial Disclosure Pack submission and the exchange of documents you may be required to submit new documents.
• Your Financial Disclosure Pack is required 10 days before any arrange session in order for us to make the exchange 1 week in advance.
• We cannot check or discuss your or the other party’s Financial Disclosure Pack outside of joint sessions.

Remember, in joint sessions, we can only discuss your FDB or the other party’s FDB. Both parties must make as full a disclosure as possible to ensure a fair and transparent process.