For couples coming to family mediation about their separation and divorce it is important that they both provide full details of their individual finances. This will ensure that the couple have the best opportunity to achieve a fair financial settlement.

But what has to be disclosed? We use a standard disclosure form to gather all of the necessary information. The couple are asked to complete the form and attach the necessary documents and then the forms are exchanged. The couple then get the chance to look at each other's form and, if they want to, consider what additional questions may still need to be asked about any financial issues.

We thought it would be helpful to provide a list of the main information that is usually provided because we are often asked about what has to be disclosed.

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Any property valuations/estate agent appraisals

Up to date mortgage statements

12 months of bank statements for all accounts

Evidence for the amount and value of any stocks and shares

Copies of all insurance policies and details of what they cover

Evidence of any premium bonds or national savings bonds

Evidence of any debts

Sometimes credit card statements are asked for too

Details of personal belongings worth over £500

Evidence of any other capital such as share options, interests in trusts, assets to be received in the foreseeable future

Evidence of any relevant tax issues, such as capital gains tax

For any business interests, copies of the last 2 years accounts

Details of any directorships held

Pension CETV values

Full details of any assets held with a 3rd party

Last 3 payslips

Last P60

Tax returns

P11d (where relevant)

If self employed - the last 2 years of accounts

Details of any investment income or any other source of income

A list of expected future outgoings

A list of what capital you think you need moving forward. To buy a house for example, or replace a motor vehicle etc...

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Sometimes, a couple need experts to help them with some of the above information and we will discuss in the mediation meetings who we may need to involve and how and who will approach them.

When we are helping a couple to sort out their financial arrangements on separation and divorce, we will have a meeting to go through all of the above disclosure requirements and it may well be that in particular cases additional information needs to be provided but this is something we would discuss and agree together.

If you would like to use family mediation to help you discuss the issues surrounding your separation and divorce or you would just like to know a bit more about the financial disclosure process call us on 0800 206 2258 or go to our website - www.familymediationandmentoring.co.uk and using the "BOOK NOW" tab in the top right hand corner of our home page you can book a free 20 minute call with us to ask us anything you would like to know about the mediation process and whether it can help you.

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