Finances and Property
Dividing your property after divorce or separation involves having to make very difficult decisions. It can often feel as though there is no ideal solution, that options are limited and that achieving a fair solution is impossible. Not knowing how you are each going to manage after divorce or separation increases stress which can in turn increase the conflict between you. This is likely to then have an adverse effect on your children.
Family mediation is a quicker, cheaper and less acrimonious way of resolving financial issues following divorce or separation. Mediation works in the shadow of the law, which means that you will both need to provide full and frank financial disclosure of all your assets before being able to consider productively what your options might be. You would need to provide full financial details whether you resolved matters through mediation, your solicitors or the Court. The difference is that in mediation you both go through this process together which makes the process quicker and more efficient.
The mediator helps you to consider all available options and work through these together so that you reach a solution that you both feel can work. As neither of you can be forced into making any decisions, the end result is that your final decision will be one that you have made together. Consequently you are both more likely to feel that the outcome is fair. When a decision is made by the Court, it often feels like one person is the winner and the other the loser. Sometimes both people can feel that they lose from a Court decision.
Adrienne Cox, as a former solicitor and family law lecturer at Exeter University, has a breadth of family law knowledge. She is aware that whatever you decide in terms of your finances, you are likely to want it to be made into a legally binding document by your solicitors. You will be provided with any legal information that you may need to ensure that you have a workable agreement both in legal and practical terms.
In summary, family mediation can help you both to:
- Work out how to resolve any financial aspects of your separation;
- Gather your financial information as quickly and efficiently as possible;
- Explore a range of options prior to making decisions;
- Test the viability of options to ensure that any final decisions taken are workable for everyone;
- Understand the steps that you need to take to make your final decisions legally binding