Private Client Services
Upon divorce, it is important to try and resolve financial issues as soon as possible, hopefully by agreement. Any settlement should only be agreed once each party has full knowledge of the other party’s financial circumstances. If the parties can reach agreement, it is strongly advisable for them to obtain a Consent Order from the Court within divorce proceedings in order to make the settlement final and legally binding. Often parties wish to obtain a so called “Clean Break” and an order of the court is the only bullet proof way of achieving this. When it is not possible to reach agreement either through mediation or other forms of negotiation, either party to a divorce may apply to the Court for a Financial Remedy Order. Even then, most cases settle without a final contested hearing. But if a final hearing is necessary, the Court will, after hearing evidence, decide the terms of the settlement. The Court has the power to make various Orders, including spousal maintenance orders, sale or transfer of property orders and pension orders. The first objective of the Court is to arrive at an outcome that will provide for the needs of both parties, but especially of any children. The second objective is to ensure, where possible, that the outcome is financially fair to both parties. The reasons for the divorce are not relevant.
At Jackamans, we always seek to resolve financial issues as quickly as possible for our clients. We strive to achieve agreements that benefit our clients as favourably as possible, whilst being mindful as to the costs being incurred.
Our solicitors always encourage our clients to consider mediation as a means of reaching an agreement when this is appropriate and helpful to the client. The agreement reached by this means should then be turned into a Financial Consent Order at the Court. In fact, the Court Rules require that a person wishing to make a financial application to the Court, must first see a Mediator unless there has been domestic abuse.