Financial claims

Financial Arrangements in Family Mediation

Post by: Christine Pickwell 24/01/2019 0 comments 1218 views

The Mediation process can cover financial arrangements on a temporary and permanent basis.

At the start of the process both parties have to provide full financial disclosure on a prescribed form.  This includes details of all income, assets and liabilities supported by documentary evidence.   Mediation cannot take place without this.

The Mediator will then collate all the information in the Mediation session and display it on a flip chart so that all are aware of the extent of the pot for division.

The Mediator facilitates discussions on how the pot should be divided and provide legal information along the way.

If a set of proposals are reached the Mediator will draw up a “Memorandum of Understanding” and “Open Financial Statement”.  The Memorandum of Understanding sets out what has been proposed, the Open Financial Statement is a schedule of income, assets and liabilities and documents that have been provided.

In divorce proceedings the proposals can then be incorporated into a Court Order made by consent which is binding on the parties.

Sometimes, if finances are complicated, it is necessary for parties to take independent advice, not only from their Solicitor but for example from a Financial or Pensions Advisor.  If an expert is instructed jointly by the parties he can attend Mediation sessions to assist with further discussions.

Both of our Mediators have over 30 years’ experience as Family Lawyers and both specialise in complex financial cases.  Over the years the Mediators have worked with clients from a variety of backgrounds, including Professionals, Service Personnel, Builders, Farmers, Property Developers and even Circus Performers.

The benefit of Mediation in financial cases is that the cost is considerably less than going through the Court process, leaving more of the family’s assets to be divided amongst the family rather than a large proportion being spent on legal and Court fees.

We can help

If you are interested in Family Mediation would you please contact the Mediation Administrator, Helen Armstrong on 01205 311511, or email her at  helen.armstrong@ringroselaw.co.uk

Our Mediation services are available from all our offices in Lincoln, Boston, Grantham, Spalding, Sleaford and Newark.

We have a Legal Aid contract at all of our offices for those who qualify financially for Legal Aid.

Where one party qualifies for Legal Aid, the other party is entitled to a MIAM free of charge and the first Mediation session free of charge.

 

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