There are various ways to finalise the finances, such as agreeing the settlement between yourselves; solicitor negotiation (including using round table meetings and discussions) or through Non Court Dispute Resolution including mediation. However, if those options are not suitable, or successful, then court proceedings can be issued.
If you can agree a settlement between yourselves amicably it is still important that you incorporate the agreement into a consent order, otherwise either party could make an application in the future if they have not remarried, which could change the agreed distribution of assets.
In agreeing a financial settlement we always advise that you engage in full and frank disclosure and then, where possible, negotiate a settlement. This can be done through the traditional route of solicitors’ negotiation or, alternatively, through mediation.
Mediation is a sensible way to negotiate a settlement, and increases the chances of achieving an amicable solution. Ruth Hawkins, a founding partner of the firm, is accredited as a mediator with the Law Society and more information about mediation can be found here.
If voluntary negotiations or mediation are not successful then arbitration or court proceedings may be required to bring matters to a conclusion.
Whichever route is required to settle your matter, we will be there to help you navigate through the process.