What if I cannot reach a financial agreement?

When two parties decide to separate, there are many issues which can begin to arise which can become understandably overwhelming.

What do you do about the martial home? Savings or assets, which you may have accumulated during the marriage?

If you and your partner are able to come to some agreement about how you would like to separate the assets, then it is still best to obtain legal advice from a Solicitor who can look over the agreement and help draw up an agreed Consent Order.

A Consent Order is an agreement, which confirms how the parties’ assets are to be divided following a divorce or judicial separation and needs to be agreed and signed by both parties, after which it can be sent to the Court for it to be approved by a District Judge.

In some situations, it may not be possible for you  to negotiate an agreement with your former partner and Mediation could then be considered, which would enable you both to try to negotiate a settlement in the presence of a Mediator.

If an agreement is reached in principle, then a Solicitor can be instructed for this to be incorporated into a Consent Order.

Now where Mediation is not option, due to domestic abuse or it has proven to be unsuccessful, it is important to consider obtaining legal advice from a Solicitor.

A Solicitor can advise you about your particular financial circumstances and help to negotiate a settlement with your former partner with a view to reaching an agreement as soon as possible.

A Solicitor can also help you to consider any financial disclosure documentation and to see if any proposals can be made for a financial settlement, to avoid the need for you to attend Court.

If an agreement cannot be reached through negotiation or mediation, then an application may need to be made to Court. The Court hearings are separated into three main hearings

1. First Directions Appointment
2. Financial Dispute Resolution
3. Final Hearing

If an agreement is reached at one of the first two hearings, then there would be no need to have a final hearing, which can save on costs.

If you require further information with regards to the above, please do not hesitate to contact me on 0115 923 2193 or email me at smissan@scomo.com