Options for reaching a financial settlement:
- DIY – reaching an agreement between yourselves. If you have negotiated your own financial agreement, we can assist you with formalising the terms of the agreement. We find that this option works for couples where there is still mutual trust and where they want to minimise costs.
- Traditional negotiation & litigation – the most common approach to agreeing financial arrangements. Both parties appoint a family solicitor, provide full disclosure of their financial circumstances, with evidence, and negotiation attempts will be made in correspondence through the solicitors. If a negotiation is not reached, the court application process will follow.
- Collaborative law – a relatively new way of resolving issues in a relationship breakdown. Each party appoints their own specifically trained ‘Collaborative Lawyer’. You and your partner are individually advised and are expected to work together at joint meetings around a table with your solicitors present to try to resolve all issues in the best possible way. The procedure is intended to be amicable and client-centred. If the process breaks down, your solicitors are disqualified from representing you in court, therefore they’ll be as committed as you are to finding the best solution by agreement, rather than through conflict.
- Mediation – Mediators are trained to help people resolve disputes and can facilitate an agreement in respect of all issues arising from the breakdown of your relationship, including arrangements for your children. Mediators will not take sides or give advice, but you can each obtain legal advice from your own solicitor during the process. If an agreement is reached the mediator will prepare a summary of the agreement. You will be expected to show the agreement to your individual solicitor for specific advice and, if it is agreed, a legally binding document to implement the terms of the agreement will be prepared.
The divorce and family team at Spearing Waite is highly skilled and experienced when it comes to agreeing financial arrangements when a relationship breaks down. We are collaboratively trained, should you wish to try to resolve issues via option three above, and although we’ll always aim to resolve things amicably, our tenacity and persistence ensures we get the best outcome for our clients, whichever route is taken.
Our team specialises in representing individuals with business assets, property, trusts, pensions, assets abroad etc. We can also draw upon in-house expertise and knowledge to assist with issues which may arise on separation such as an ex partner being involved in the business, commercial and corporate issues, creation of trusts, tax planning, inheritance issues, conveyancing and wills.