Part 3- Liabilities These come in many forms Please do not forget about monies owed to family or friends and please be ready to provide documentary evidence of these such as a letter or sworn statement, from the person you owe the monies to or the loan contract, if one exists. Other than this, it …
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2.10 Personal Belongings We don’t recommend that you ‘go to town’ listing all belongings of more than £1000 at this stage. Often, people in mediation are able to agree a pragmatic and sensible approach to dividing their personal and household belongings, without the need for listing these extensively in the financial disclosure form. Anyway, it …
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2.7 Monies owing to you Although not that common, it is important that you provide details of any monies owing to you since they are a financial resources that may be relevant to the financial problem solving process. 2.8 Cars and vehicles When it comes to the value of cars remember that it is their …
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2.6 Business Assets Businesses and business interests come in many shapes and sizes. This could be a Sole Trader, a Ltd Company, an Investment business or some other kind of business structure. Please use our Document checklist to ensure that you collect the correct business documentation, at this stage. The Mediator should get a early …
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2.5 Life policies We recommend that you dig out or obtain any Life Policy documentation and have a good look through each one, listing them in the Document checklist we provide Not every life policy has a surrender and maturity value, but if they do it needs to go in this form. If it has …
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2.4 Investments Investments come in many different forms. Some of these investments would attract CGT on a transfer or sale. PART 3 para 2 of the Financial Disclosure Booklet asks for a CGT calculation if this is the case, so that a net value can be calculated for mediation. If the investment requires a bit …
Part 2.3 Savings accounts If you have more than 8 saving accounts please use a continuation page and please provide up-to-date balances and dates for these. Even if the account is in joint names, the form requires the full balance rather than inserting half the balance. When it comes to the mediation session, be ready …
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Divorce Financial Disclosure Booklet Part 2.2 Current accounts The balances in current accounts often fluctuate, on a regular basis. Even so, you must provide up-to-date figures and a dates for each account balance. Please make sure that you disclose every bank account and balance, however small, or risk fuelling suspicion that other assets may not …
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Part 2- REALISEABLE ASSETS Part 2 of your financial booklet relates to your capital resources which could, in practice be turned into cash, which is why they are referred to as ‘realisable assets’ and cover a variety of assets, as you will see. Some or, indeed, many of these assets may have costs and tax …
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How do we reach a FAIR financial outcome on divorce? What does “Netting down” assets on divorce mean and why is this important ? “Netting down” assets in divorce refers to calculating the value of assets to reflect any liabilities, taxes, costs and fees associated with a Sale or Transfer of the assets (even if …
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