What financial information do you need for a divorce?

Before money can be divided, both of you have to set out your finances. If you agree, a judge checks your settlement against a summary of both your finances before approving it as a consent order. If you can't agree and go to court, each of you completes a detailed financial statement, Form E.

Either way, you can only judge whether an offer is fair if you know what exists. Many people find during a divorce that they knew less about the family finances than they thought, especially pensions and debts in the other person's name. Starting early gives you time to fill the gaps.

In England and Wales the court can make orders over anything either of you owns, whoever's name it is in. That does not mean everything is treated the same way.

• Matrimonial assets are what you built up during the marriage: usually the family home, savings, pensions and businesses. The starting point is that these are shared.
• Non-matrimonial assets include things one of you owned before the marriage or inherited. They are often treated differently, but they can still be used to meet needs, particularly where there are children.

When the court decides, the Matrimonial Causes Act 1973 says its first consideration is the welfare of any child of the family under 18. It then looks at each person's income, earning capacity, needs, age, health, the length of the marriage and contributions, including looking after the home and family.

Scotland is different. Under the Family Law (Scotland) Act 1985, matrimonial property is broadly what you acquired during the marriage up to the date you separated, plus a home bought before the marriage for use as the family home. Gifts and inheritances from other people are excluded. Northern Ireland has its own rules too.

Make a list for both of you, with an estimated value and the account or policy number for each:

• the family home and any other property, with the latest mortgage balance
• current accounts, savings, ISAs, Premium Bonds, shares and cryptoassets
• every pension, including old workplace pensions and personal pensions
• business interests, cars, valuable items and life policies with a cash value
• mortgages, loans, car finance, credit cards, overdrafts and money owed to family
• income from work, self-employment, rent, investments and benefits

Pensions are easy to forget and are often one of the largest assets. Ask every scheme for a valuation now, because they can take weeks to arrive. Our pensions article explains what the figures mean.

Your free statutory credit report from each credit reference agency lists the credit accounts linked to your name, including any you have forgotten.

If you go to court, Form E asks for documents including 12 months of statements for every bank and savings account, a recent valuation for each pension, a recent mortgage statement, your last P60 and three payslips if you are employed, and business accounts if either of you runs a business. Our Form E guide lists them in full.

Even if you hope to agree everything, collecting the same documents now saves time. Mediators and solicitors usually ask for them anyway. If you can't get statements for accounts in your husband's name, note what you know: the bank, roughly what is in it and when you last saw a statement. Disclosure is a legal duty on both of you, so missing documents can be requested later.

In England and Wales you must wait 20 weeks after the court issues your divorce application before applying for a conditional order. The court can approve a consent order only once the conditional order has been made. You then wait at least 43 days before applying for the final order.

GOV.UK says that if you want a legally binding arrangement for your money and property, you must apply to the court for it before you apply for the final order.

Meanwhile, a few practical steps help:

1. Open a bank account in your sole name if you don't have one.
2. Keep copies of documents somewhere your husband can't reach.
3. If you claim Marriage Allowance, it has to be cancelled when you divorce or legally separate, and the change can be backdated to the start of the tax year.