As part of Children’s Mental Health Week 2019, we focus on the wellbeing of children whose parents are going through a divorce or more…
Following separation, it’s often the financial negotiations that are most fiercely contested. But by using family mediation to agree finances, we can help you agree a settlement that you both consider to be fair, balanced and reasonable.
The first step in financial mediation is for you both to compile a detailed list of assets, liabilities, income and expenditure. This should include your home and its contents, the value of your pensions and any savings or debts.
It’s important that your financial disclosure is full, honest and frank – so take advice from a solicitor, financial adviser or estate agent if necessary.
The next step will involve you both, with the support of your mediator, speaking openly and constructively about finding a workable solution. You’ll be encouraged to formulate and develop ideas and proposals, looking at whether these are achievable. You’ll also need to consider your options based on what is practical and possible for you both.
It’s worth noting that whichever route you take to resolve financial issues – whether through a solicitor or by going to court – the process can be largely the same. So if you’re committed to agreeing a settlement together, mediation could help you find a positive outcome.
We recognise that every relationship is different and a mediated approach to resolving financial issues isn’t for everyone. But if you’re committed to working through your issues constructively to find practical, achievable solutions, mediation could be a viable option for you.