Property and Finance Mediation
Issues arising around property and finance matters can be complex. We will guide you through the process and advise you of what needs to be done at every stage. We can give you details of independent financial advisors, actuaries and accountants to provide business valuations and other experts should they be necessary.
The most important aspect of mediating property and finance matters is disclosure. Just as you would be required to give full financial information “disclosure” to your solicitor and a Court you are required to give the same full and frank disclosure in mediation.
You may have been given information about completing “Form E” – which is a comprehensive form – asking questions over every aspect of your financial affairs. You may find this link helpful when filling out the Form E
Mediating issues around property and finance is only possible when you are upfront and honest about your financial information.
How do we get to an agreement?
Most separating couples want an agreement they will both stick to.
During mediation you will provide full financial information disclosure and go on to discuss possible options which we will ask you to take legal advice on.
Discussing options together in the confidential setting of mediation means you don’t have to worry that you are tied to any one option, you are not. You are free to work together to find a solution that works for you both.
In between sessions you can think about other options and bring them to the next session to discuss. Once you have both settled on a set of proposals you can ask your solicitor to make the proposals binding.
Financial Disclosure – will it take a long time and cost a lot of money?
Short answer: No, not if you don’t want it to.
We can help you prepare the financial information and present it to your solicitor which will save you time and money.
You must both provide full and complete information about your finances including details of your income, the value of your house(s), and any other assets e.g. savings, shares, investments, any business valuations and pensions. We will work through this in mediation.
At the initial meeting (MIAM), we will give you Form E and explain how you can complete it and the documents you will need in support.
You will look at each others Form E in the sessions and will give one another a full set of the documents supporting the information in your Form E.
We will prepare a useful financial summary an Open Financial Statement, and you will both sign that summary confirming it is an accurate summary of your financial position.
Once you both know what assets and liabilities you have you can start to think about the most effective way of separating out your finances including assets like your home. You also need to think about your pensions.
We have helped hundreds of separating couples like you develop workable plans.
You cannot come to just any old agreement in family mediation, it has to be one a Court will accept, and we will help you work out what that looks like: what will meet yours and your family’s needs, what works best practically.
When you can’t see a way forward a mediator can help you find solutions you may not have thought of or raise questions and see holes in your proposals which need to be addressed.
With your Open Financial Statement and set of proposals you are ready for your solicitor to make those proposals binding in the form of a Consent Order or Deed of Separation for the Court to approve.
Once this has been done you will have a legally binding agreement leaving you free to move on with your lives, knowing you can afford to live separately and everyone is safe.
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