4x4 Finance & Property

• We use a client friendly version of Court form E to collate information on assets and liabilities and projected income and expenditure
• All figures used are supported with external evidence. These disclosed documents are copied and shared so that both parties have a clear view of their financial situation
• Options for the way forward are then discussed. These are based on the individual client’s preferred outcomes, financial viability, and costing of future plans
• Research is requested if needed about such things as alternative accommodation, mortgage potential, shared ownership schemes, pensions
• Options for settlement are narrowed to a clear set of proposals on which separate legal advice can be sought
• Once finalised proposals are set out in a Memorandum of Understanding which includes future plans, timing of transfers or title or assets, plans for all assets and liabilities including dealing with debt, details of future income and expenditure based on the proposals. The Memorandum also contains details of child arrangements.

We offer guidance on the following issues during the mediation process:

• The basis of divorce petition
• Separate Parenting
• Child Maintenance
• Spousal Maintenance
• The Impact of Behaviour on settlement
• Valuation of companies
• Financial Advisers and Mortgage Advisers
• Legal Services
• GDPR

A number of documents are drafted during the course of Financial Mediation

• Joint Financial Summary which shows disclosure by both parties and clarifies all assets and their values. This is converted into the Court Form D81
• An option document is prepared if there are a number of possible options for settlement under consideration on which the clients wish to take advice or consider further. This document is “Work in Progress” and is not one of the final documents for conversion into Court documents.
• A final Memorandum is drafted by the Mediator which contains the settlement and which is used to draft the Consent Order or Separation Agreement.

• No knowledge of financial matters or divorce process is assumed. It is the mediator’s job to lead clients through the process step by step and ensure that they understand what is needed for each session to make progress towards settlement.
• It is common that one client will have a greater understanding of the financial aspects of the marriage or relationship than the other. The mediation process is designed to ensure that both parties are on the same footing with regard to clarity about all the assets and liabilities, about what is available to share and what the best options are for each client’s separate financial future.
• The mediator will recommend that clients take additional individual advice on particular aspects of settlement if needed