When a marriage breaks down, emotions often run high, but one thing should never be in doubt: both parties must provide full and honest financial disclosure.
A recent case, described as Britain's longest-running divorce, is a stark reminder that attempting to hide assets can have serious legal and financial consequences - even decades later.
Britain's Longest Divorce: A 23-Year Battle
After an extraordinary 23-year legal battle, a former wife was awarded £6.6 million after the High Court found that her ex-husband had concealed substantial assets during their divorce. The husband, a former solicitor, had hidden wealth estimated at around £28 million, resulting in years of litigation, multiple appeals and a landmark legal outcome.
What began as a relatively modest financial settlement eventually unravelled when evidence emerged that the husband's financial disclosure had been dishonest. The courts ultimately ruled that the original settlement should be revisited, demonstrating that dishonesty during divorce can have consequences many years after the final order has been made.
Although very few divorces last anywhere near this long, the principles behind the case apply to every separating couple.
What Is Financial Disclosure?
If you are divorcing or dissolving a civil partnership in England and Wales, both parties have a legal duty to provide full, frank and honest financial disclosure.
This includes information about:
- Property and land
- Savings and investments
- Bank accounts
- Pensions
- Businesses
- Shares
- Income
- Debts and liabilities
- Overseas assets
- Cryptocurrency and digital investments
The purpose is simple: both parties - and ultimately the court, if necessary - must have an accurate picture of the family's finances before a fair financial settlement can be reached.
Can You Hide Assets?
In short: no.
Some people mistakenly believe they can protect their wealth by:
- Transferring money to relatives or friends.
- Moving funds overseas.
- Under-valuing a business.
- Failing to disclose bank accounts.
- Delaying bonuses or dividends.
- Purchasing cryptocurrency to conceal funds.
These strategies rarely remain hidden forever.
Family courts have extensive powers to investigate financial information, and where there are concerns about non-disclosure, further enquiries, expert valuations and forensic accounting may be required.
What Happens If Someone Doesn't Tell the Truth?
Failing to disclose assets can have serious consequences.
The court may:
- Reopen an existing financial settlement.
- Set aside previous court orders.
- Award a larger share of the assets to the innocent spouse.
- Order payment of additional legal costs.
- Draw adverse inferences about the missing assets.
- In serious cases, consider contempt of court proceedings.
The Gohil case illustrates that dishonesty does not simply disappear with time. Even years after a divorce has been finalised, a settlement may be revisited if it was based on incomplete or misleading financial information.
Hidden Assets Aren't Just for the Wealthy
While Britain's longest divorce involved millions of pounds, disputes over financial disclosure are by no means limited to high-net-worth individuals.
We regularly see concerns involving:
- Undisclosed savings.
- Cash businesses.
- Pension values.
- Company accounts.
- Rental income.
- Investment portfolios.
Whether your assets total £50,000 or £5 million, transparency is essential.
Getting It Right the First Time
A properly negotiated financial settlement provides certainty and helps both parties move forward.
Obtaining specialist legal advice at an early stage can help you:
- Understand your financial position.
- Ensure proper disclosure is provided.
- Protect your future financial security.
- Avoid unnecessary disputes and delays.
- Reach a fair and legally binding agreement.
For many couples, mediation can also provide a constructive way to resolve financial matters without lengthy court proceedings. Find out more about our Family Mediation services.
If court proceedings become necessary, experienced legal representation is equally important to ensure your interests are protected throughout the process.
Don't Let Financial Secrets Cost You
Britain's longest divorce is an extraordinary case, but its message is straightforward.
Attempting to hide assets is unlikely to succeed and can result in years of costly litigation, additional stress and significantly different financial outcomes than if both parties had been honest from the outset.
If you are concerned that your spouse or former partner may not be providing full financial disclosure—or if you simply want expert advice about your financial settlement—our experienced Family Law team is here to help.
Speak to Susan Howarth & Co. Solicitors
We offer FREE 30-minute appointments for all new Family Law clients, giving you the opportunity to discuss your situation with an experienced member of our team and understand your options.
📞 Contact us today on 01606 48777 arrange your free appointment or click here for further information
This article is for general information only and does not constitute legal advice. For advice tailored to your circumstances, please seek professional legal guidance.
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