There are a number of stages in the financial disclosure process, some of which include forms to complete which will eventually be exchanged by both parties.
Issuing your financial application; the Form A
To start financial proceedings, you need to make a separate application to the court. This is the Form A. On receipt of a Form A, the court will list an initial hearing and set out a timetable for disclosure. This will allow the case to progress in a timely manner.
Responding to a financial application
When you receive a financial application, it is important that you abide by the directions set out in the first order. You may well want legal advice on this. You will be required to produce initial disclosure and attend a hearing at court.
Preparing financial disclosure: the Form E
The Form E is the first stage in the disclosure process. This is a lengthy form which requires you to set out the assets you own and the income you receive. In a Form E, each party is required to set out the entirety of their worldwide assets, including those held in trust or through company structures.
The Forms E are exchanged and each party gets to examine the other’s disclosure. In analyzing what has been provided, each party can ask further questions and can consider what additional information they require to progress to settlement discussion.