Property and Finance

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Property and Finance

October 2015 update:

The Ministry of Justice and Advice Now have just produced an excellent 'survival guide' to sorting our your finances when divorcing.  The guide is clearly written. You will probably find it answers all your question.

 

 http://www.advicenow.org.uk/guides/sorting-out-your-finances-when-you-get-divorced

 

In brief, there are three stages to dealing with property and finance:

First, there is the full disclosure of all the assets and liabilities of the parties. We also look at the income and needs of each party'.

Second, we look at the options available and examine how they would work in practice.

Finally, we take the favoured option and draw up proposals for the division and allocation of the assets and liabilities. At this stage clients often wish to take a draft of the outline proposals to talk these through with a legal adviser before the final versions of the proposals are drawn up. This makes it much more straightforward if you wish your proposals subsequently to be given legal effect.

In the course of discussing your options we will look at the best ways of dealing with property, pensions and all savings and investments. We look at mortgages, loans and other borrowings and can also look at child or spousal maintenance.

At any point in mediation your mediator may suggest you seek specialist professional advice or information to help you make informed decisions, as would be the case if you were consulting a solicitor.

The more information you have the easier it will be to make informed decisions for your future.

Note: even if you use a solicitor-mediator he or she cannot give you legal advice and you will need to engage the services of another solicitor for this purpose.

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