As a solicitor who has specialised in family law for several years, I am often asked what assets should, or should not, be disclosed during a divorce.

My answer is always the same – be transparent from the start. Being open about your finances will help you achieve a fair financial settlement. If you don’t disclose your assets and instead choose to hide them, you could find your financial settlement being overturned.

Be open about the assets you own and provide the evidence to support this. This may include:

  • 12 months’ bank statements
  • Three valuations of the family home
  • Credit card or loan statements confirming any outstanding balances
  • The current cash equivalent transfer value of your pension
  • Recent payslips

If you do not understand the information you have been given, ask questions and seek legal advice before reaching an agreement. Don’t rush into deciding what should happen to your assets, as those decisions could affect you financially later. The divorce process itself usually takes six to eight months, so there is time to obtain advice. The home you have owned together does not necessarily have to be put up for sale just because the marriage is over – there may be other options available.

A case that highlights the importance of financial disclosure

A recent example of why financial disclosure is so important is the case of Gohil v Gohil (2025). Following the couple’s separation in 2002, the husband transferred assets to family members and an offshore company so that his wife would not benefit from them. The wife sought legal advice and reluctantly agreed to a settlement of £170,000, together with maintenance payments. However, after accepting the offer, she raised concerns with the court about the husband’s lack of financial disclosure.

More than 20 years later, following extensive examination of the husband’s assets, the court found in her favour. Despite the assets being held by other parties, it was established that he had retained control of them. As a result, she received a further payment of £6.8 million, benefiting from the increase in the value of those assets. Meanwhile, the husband lost the benefit of a clean break order and incurred substantial legal costs.

This case highlights the importance of being honest and transparent throughout financial proceedings. While it may be tempting to withhold information, doing so can have significant consequences and may ultimately prove far more costly in the long run.

How we can help

If you are going through a divorce or separation and need advice about financial matters, seeking legal advice early can help you understand your options and make informed decisions about your future.

 

Our experienced Family Law team can guide you through the financial disclosure process, help you negotiate a fair financial settlement and support you at every stage of your matter. Sally offers appointments at our Grantham, Bourne Wake House and Peterborough offices.