W
hen a couple separates, some of the most challenging issues to resolve often revolve around how their assets should be divided and the extent of any ongoing financial responsibilities towards each other. The courts encourage couples to resolve these issues amicably wherever possible. However, there are cases in which this is simply impossible, and the couple must seek the court’s help and ask a judge to consider the matter and make a financial order for the divorce.
Our family law solicitors specialise in securing favourable financial settlements for clients going through a divorce or civil partnership dissolution. We understand the need for such issues to be addressed with the utmost sensitivity, particularly when children are involved, so whilst we will protect your interests every step of the way, we will always use the least acrimonious dispute resolution method appropriate in the circumstances.
Please call us now on 01603 672222 for a no-obligation conversation today or Click Here To Make An Online Enquiry.
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What Is A Financial Order In Divorce?
A financial order in divorce is a court order that deals with how a couple’s assets will be divided and other issues, such as whether one party should pay spousal maintenance to the other.
There is no typical financial order in divorce. The court has broad discretion when deciding on the form of the order and will seek to make a decision that is fair and reasonable in the circumstances. If the couple has children, their welfare will always be the judge’s primary concern.
Examples of the types of matters the court will consider include the following:
- The parties’ respective incomes.
- The parties’ respective earning potential.
- The length of the couple’s relationship.
- The potential future assets or resources either party may acquire in the foreseeable future.
- Whether either party has a physical or mental disability.
- The age of the parties.
- Whether one party was financially dependent on the other.
- The financial position of any new partners.
Crucially, before either party can ask the court to make a financial order in divorce, they must attend a meeting known as a MIAM, which stands for Mediation Initial Assessment Meeting. The purpose of a MIAM is for an impartial third party, the mediator, to assess the suitability of the matter for financial mediation. A couple can attend a MIAM together if they wish, but most couples opt to attend one separately, and anything said during a MIAM is entirely confidential.
During a MIAM, the mediator will explain what mediation is, how the mediation process works, the types of disputes it can be useful in resolving, and answer any questions you have. By the end of the meeting, the mediator will have decided whether your case is suitable for mediation. However, a fundamental principle of mediation is that it is voluntary. Even if the mediator believes your case to be a good candidate for mediation, you are not obliged to go through the process. The mediator will provide a certificate that you can file at court confirming that you attended the MIAM, and you can proceed with making an application for a financial order in divorce.
What Are The Alternatives To A Financial Order In Divorce?
Litigation of any type should always be a last resort. There are many alternative dispute resolution methods that couples can use to settle the financial issues arising from their separation. These methods tend to be quicker, cheaper, and far less acrimonious than court proceedings, and have excellent success rates. Examples of the types of dispute resolution methods our family law solicitors frequently employ as an alternative to litigation include the following:
• Mediation
Mediation is an extremely popular form of dispute resolution in family law cases. The process involves an independent third party known as a mediator assisting the parties in resolving their issues between themselves. The mediator does not take sides or decide who is right or wrong. They merely facilitate constructive discussions between the parties and help them identify common ground with a view to reaching a mutually acceptable resolution.
• The Collaborative Family Law Process
Under the collaborative family law process, the couple works together alongside their own specially trained lawyers to work through their issues. The parties can also include other professionals in the process, such as a financial advisor and child specialist, to provide any additional support they need. In suitable cases, the collaborative family law process can be incredibly effective in achieving a swift, amicable resolution of the financial issues arising from a divorce.
Our family law solicitors will discuss all the available options with you, talk you through the pros and cons of each, and help you reach a decision on how to proceed. We will guide and support you through your chosen procedure, working tirelessly to secure a fair outcome for you and your family.
Please call us now on 01603 672222 for a no-obligation conversation today or Click Here To Make An Online Enquiry.
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