Will my new partner have to disclose his or her financial situation when I divorce?
Does this mean they will become liable to pay my ex-partner?
In this short blog we look at the challenges presented when you – or your spouse – have a new partner and are trying to resolve the matrimonial finances.
If you are going through a divorce and are living with your new partner, then you must disclose this to your former partner when sorting out the finances on your divorce. If you do not then this might be a basis for setting aside a financial agreement or order and starting negotiations or Court hearings over again. There can be costs penalties and other disadvantages if it is later shown that you had failed to disclose something.
This need to disclose new cohabiting relationships is set out in the Court’s financial document – the Form E. It explains that any actual or anticipated cohabitating relationship has to be disclosed.
What is more, you will also have to provide details relating to your new partner’s financial circumstances, such as they are known to you. You should expect questions for further information as well.
This requirement is often a cause for concern particularly if your new relationship is in its early stages. The new partner may be reluctant to share this most personal of information. And they might be wary about being drawn into your dispute.
In situations where there is an ongoing degree of animosity between you and your former partner, then the temptation to withhold financial information about your new partner may be strong. This is all the more tempting when the Court cannot order your new partner to be responsible to make any payments to your former partner. But it is far better to provide a prompt, clear and succinct summary to avoid the costs and antagonism that can otherwise be stirred up by trying to keep matters secret.
Our experienced team of family lawyers advise on all matters relating to divorce and separation. We are experts in negotiating financial settlements on divorce and separation. For further information take a look at our website page, Finances on Divorce & Separation, or contact any of our specialist divorce lawyers T: 020 7420 5000 or E: email@example.com.
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