Financial Issues – How do I Resolve?

Financial issues – what is involved?

Many couples still believe that they have to go to court. For some people, this may be the most appropriate approach, but it is not the only option available. The other alternatives are set out below.

If you have to go to court, we have a detailed guide to separately explain that process.

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We have explained the various processes above but we can provide you with advice on isolated issues, or just help guide you in the background so that you know what to do every step of the way.

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Why choose our family law solicitors?

• We are ranked in the top tier by both the Legal 500 and Chambers for family law advice
• Our lawyers explain all stages of the process clearly and honestly, alongside the costs involved
• We are experienced in all forms of dispute resolution and how to keep cases out of court
• You can trust our team to take a sensitive, empathetic approach to your personal situation
• We have a successful record in meeting our clients’ objectives

Call our friendly, professional family team to find out how we can help you.

Reaching an agreement between yourselves
Approx £2,000 – £3,000 plus VAT
If you are able to communicate amicably about your financial arrangements, this is the quickest way to reach a settlement. The couple must both know all their financial facts and trust each other enough to effect a mutually satisfactory division of their assets.

Reaching an agreement using mediation
Approx £2,000 – £5,000 plus VAT
If you need help with issues, you are unable to agree upon, you can attend a series of meetings with a mediator. We can sit in the background of this process. Mediators are impartial and can give a couple information, but not advise them. Mediation can help you to reach an agreement about financial matters, children matters or even the divorce itself. We will support and advise you through this process and prepare a court order to ensure any agreement reached is binding.

Reaching an agreement using collaborative practice
Approx £4,000 – £10,000 plus VAT
Collaborative practice involves two separate solicitors and face-to-face meetings to discuss and resolve issues, without going to court. The two collaborative solicitors work together to help their clients through the divorce process, which is regulation by a document called a participation agreement – explaining how the process will work. This process enables your lawyers to be with you. In mediation, the lawyer cannot attend meetings.

Reaching an agreement using arbitration
Approx £4,000 – £10,000 plus VAT
Arbitration is a form of private dispute resolution, ideal for if you cannot agree on a particular issue. Both people enter into an agreement to allow an arbitrator to hear all about the case. The arbitrator will then make a formal written decision (known as an award), which determines the final outcome of the dispute.

Solicitor-led negotiation
Approx £10,000 – £20,000 each plus VAT
Each person instructs their own solicitor, who corresponds with the other person’s solicitor. In many cases, there is an exchange of financial information so the solicitors can advise their clients on a fair and reasonable settlement. They may then negotiate a settlement through pure correspondence, or round table meetings.

 
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