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Financial Issues

However financial matters are resolved, it is important that you are both able to make an informed choice. 

Whichever process you decide to use to resolve your financial issues there are essentially two stages:-

1. The exchange of financial disclosure

Financial disclosure is exchanged within the mediation process. We have a specially designed mediation disclosure form which we ask you to fill in, either in advance of or during the first session of mediation.

The disclosure exchanged is "open disclosure" and this means that you can show your solicitors each other's disclosure and take advice upon what an appropriate financial settlement would be.

Mediation is not an alternative to legal advice and we encourage you to seek independent legal advice from your solicitor as part of the mediation process. After each session we prepare a mediation record which is a document you can show to your solicitors so that you can take advice on the main points of issue.

The fact that the disclosure is "open" means that if mediation as a process breaks down then you can show that disclosure to a Court. It is therefore important to be open and transparent.  

2. Negotiating a financial settlement

The second stage of the mediation process is to discuss, generate options and then establish the most appropriate financial settlement for each of you and one that meets the needs of your children, if any.

As accredited family law mediators and practicing solicitors we have a detailed working and up to date knowledge of family law. We can help you to generate options for you to take legal advice between the mediation sessions.

Family mediation can be used to discuss all aspects of your family finances. it is a very appropriate forum to negotiate living together agreements and pre and post nuptial agreements. All discussions which take place are confidential and cannot be reported to a Court unless or until there is a full agreement. Mediation is a safe space so that you can explore issues without fear of being bound by discussions.

Once agreement is reached we prepare the documentation and in a format your solicitors can then convert into a legally binding form to file with the Court. As family mediators we can involve other professionals, where appropriate for example IFA's, pension experts and specially trained barristers.

Mediation can take place at any stage be that prior to the issue of Court proceedings so that hopefully proceedings are unnecessary. Mediation can also take place at any stage of the Financial Remedy Court process and you are always encouraged by the Court to try to reach agreement and avoid on-going costs of litigation.

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Financial & Property

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