Financial disclosure in mediation

The picture of income, property, pensions, savings and debts that everything else rests on.

Contents 10 sections

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Financial mediation cannot work on guesswork. Before you discuss settlement proposals, each person needs to set out the financial information that matters to the case.

This is financial disclosure.

It gives each person and the mediator a shared factual starting point: what assets exist, what is owed, what income is available and what information still needs clarification.

What needs to be disclosed?

The exact documents depend on the case, but disclosure commonly covers:

income from employment, self-employment or other sources;
the family home and other property;
current mortgage balances;
bank and savings accounts;
investments and shares;
pensions, including older workplace pensions;
loans, credit cards and other debts;
business interests where relevant;
other significant assets or liabilities.

The mediator will tell each person what documents and time periods are needed for the particular case.

Why disclosure comes before proposals

Suppose one person wants to keep the home and the other wants it sold. That cannot be discussed properly without knowing the value, mortgage, equity, income and other resources available.

The same applies to pensions or debt. A proposal may look balanced until a missing pension or liability changes the overall picture.

This is why the financial facts are dealt with before the negotiation moves towards final proposals.

Financial facts are provided on an open basis

Under the Family Mediation Council Code of Practice, factual information material to financial issues is provided on an open basis so it can be referred to outside the mediation, including in legal proceedings if required.

This is different from the private negotiation of settlement proposals.

The mediator will explain clearly which information is open and the status of the documents produced.

What if something is missing?

Disclosure often raises questions. That is normal.

A pension statement may be old. A property value may be disputed. A bank transfer may need an explanation. Business accounts may need clarification.

The mediator can create a list of questions or missing documents and give each person the chance to respond. The process should not move to final settlement proposals until the financial picture is sufficiently complete for meaningful discussion.

What if one person refuses to disclose?

Mediation is voluntary, but financial mediation still requires the information needed to discuss finances properly.

The mediator cannot force somebody to produce documents in the way a court can. If important information is withheld and the issue cannot be resolved, mediation may need to pause or end. Each person can then obtain legal advice about the available next steps.

Open Financial Statement

Once the factual financial information has been exchanged and clarified, the mediator can prepare an Open Financial Statement or open summary recording the financial position used in mediation.

This is separate from the document recording the proposals reached in mediation.

Form E and court disclosure

If financial remedy proceedings are started, the court process uses Form E for detailed financial disclosure in many cases. The mediation process is separate, but the underlying principle is similar: sensible financial decisions need reliable financial information. If you are facing the form, our Form E guide walks through what to gather and what each section asks.

If you are already in court proceedings, tell the mediator at your MIAM so the mediation process can take account of existing directions and documents.

Ready to start financial mediation?

Begin with an individual MIAM. You do not need to complete full financial disclosure before your MIAM; the mediator will explain the financial process if mediation is suitable and you decide to continue. See also financial mediation.