When a marriage or civil partnership ends, one of the hardest-fought issues is often how the couple’s assets should be divided. Matters such as what should happen to the family home, whethe width=”300″ height=”234″ />When a marriage or civil partnership ends, one of the hardest-fought issues is often how the couple’s assets should be divided. Matters such as what should happen to the family home, whether one party should pay maintenance to the other or any children, and how assets such as businesses and pension pots should be dealt with must all be addressed during the divorce or dissolution process. The resultant arrangements are known as a divorce financial settlement.
Our family law team has decades of experience in assisting separating couples in resolving the financial issues arising from their divorce or civil partnership dissolution. We understand the need for these matters to be settled as quickly and amicably as possible, particularly when children are involved. So, whilst we will vehemently protect your interests and those of your family, we will do so with sensitivity and through the least acrimonious dispute resolution method appropriate in the circumstances.
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How Can A Financial Agreement In Divorce Be Reached?
Our clients are often relieved to learn that going through a divorce or civil partnership dissolution does not necessarily mean they will need to endure endless court hearings. There are several alternative dispute resolution methods that are quicker, cheaper, and less stressful than litigation. These methods often enable the couple to reach an amicable agreement on the issues and lessen the impact of their separation on themselves and their children.
Examples of some of the alternative dispute resolution methods our family solicitors often employ are as follows:
• Mediation
Mediation is regularly used in family law proceedings and can achieve excellent results. During the mediation process, an independent third party called the mediator uses their expertise in family law and mediation experience to help the couple find common ground and reach agreement on the issues arising from their separation, including their finances.
Unlike in court proceedings, where the timetable, venue and time are dictated by the court, the parties retain control of the mediation process. This includes choosing the mediator, deciding on a date, time and venue, and selecting the format most appropriate for them. You might choose a round-the-table meeting where the parties sit in the same room to negotiate, or you might consider it more suitable to sit in separate rooms and have the mediator liaise between you.
• The Collaborative Family Law Process
The collaborative family law process involves each party working with a specially trained lawyer to resolve their issues at a face-to-face meeting. Where necessary, you can employ the services of other specially trained professionals, such as financial advisors or accountants, to assist you in finalising your divorce financial settlement.
• Arbitration
Arbitration can be a valuable alternative to court proceedings where there is significant disagreement between the parties, making the chances of reaching an amicable settlement unlikely. Arbitration differs from mediation and the collaborative process because, unlike those methods, the parties to an arbitration do not reach an agreement of their own accord. Instead, the arbitrator decides the terms of the separation, including the divorce financial settlement. Their decision is binding, and there is very limited scope for appeal.
Generally speaking, the arbitration process is less formal than litigation, and the parties have more control over it. For example, they can select the arbitrator and choose the time and date of the hearing.
The effectiveness of all the methods discussed above depends on the parties providing full and frank disclosure of their financial situations. If there is any suspicion that one party is seeking to hide assets, litigation may be unavoidable.
Divorce Settlement Litigation
Unfortunately, the circumstances of some divorces or civil partnership dissolutions are such that litigation is the only viable option. The split may be so acrimonious that the chances of the parties resolving their issues without court proceedings are remote, or they may have attempted methods such as mediation or the collaborative process to no avail.
The judge’s discretion when deciding the terms of a divorce financial settlement is wide. As such, there are no hard and fast rules; the judge will make the order they consider fair and reasonable in the circumstances. When doing so, they will take account of all relevant factors, including the following:
- The value of the couple’s assets.
- The length of the marriage or civil partnership.
- The parties’ earning potential.
- The financial situation of any new partner.
- The needs of any children.
Whichever method of dispute resolution you use to resolve your divorce financial settlement, our family law solicitors will guide you through the relevant process with care and empathy. We will work tirelessly to protect your and your family’s interests and ensure a fair outcome.
Please call us now on 01603 672222 for a no-obligation conversation today or Click Here To Make An Online Enquiry.
“In all the years we have had to deal with solicitors we have never come across anyone so nice and genuine as Victoria. Her personality, and empathy she has is outstanding. Victoria is a credit to her profession, and finally, if Andy and I can just say, that, if there were more people like Victoria in the world it would be a much nicer place to live in!”
