In a divorce, what is a Statement of Information used for?

The Statement of Information is a recently updated Court document used to support an agreed divorce settlement and the new version can be found on the Isle of Man Court website (https://www.courts.im/media/1759/statement-of-information.pdf).

It is used to gather all relevant information from both parties in relation to their finances, including: the value of your house, savings, investments, income and pensions. It is primarily used when the divorce is filed on the ground of two years separation with consent, so that the Court can be satisfied that it has all the relevant facts necessary to approve as an Order, a settlement agreed between both parties.

This form can also be used as a checklist should you be dealing with the divorce yourself, or if you do not reach an agreement, it can identify the information you need to gather and identify the people you need to notify of the future arrangements, such as the pension provider (should there be a pension sharing order) or the bank that provides your mortgage.

The new Statement of Information is an improvement on the previous document as it ensures the Court is fully appraised of the reasons behind the Order.

It is a useful document to ensure you are prepared as well as possible for your initial meeting with your advocate and to give you an idea as to what documents and information you may need to provide throughout the negotiations.

It should save time and expense if you go to your advocate with as much information as possible and gives all the parties a clear view of what the finances involved are and the advocates a clear view on what points need to be addressed to ensure the outcome of the proceedings is fair to both parties.

There are also spaces on the statement for you to provide further information in respect of any children you may have such as the need for additional finances due to a child’s disability or any additional needs they may require.

This is particularly important if children residing primarily with one parent have special needs or the split of finances has to be unequal due to one person’s extraordinary needs.

Generally you should take advice from an advocate before submitting your Statement of Information and Consent Order to the court.