Resolving financial matters can be complex and they are always dealt with as a separate set of proceedings. The resolution of financial matters is governed by the Matrimonial Cause Act 1973 (even where matters are being dealt with outside of Court). The Act sets outs factors that need to be considered when determining what a fair and reasonable outcome will be in any particular matter.
There are different ways to resolve financial matters and these are as follows:
- Agreement. You and your spouse can agree how assets are to be divided between you.
- Negotiation through solicitors. An agreement is reached between parties with the assistance of solicitors. Prior to any negotiations, there is usually an exchange of full and frank disclosure. We can advise you further on this during a free 30 minute consultation.
- Mediation. This is a process whereby a mediator will work with both parties to help you make important decisions regarding your finances and how assets are to be divided.
- Court Proceedings. This course of action should only really be taken in all other efforts to resolve matters have been exhausted. An application will be made to Court and if an agreement cannot be reached between parties, a Judge will determine what should take place. Court proceedings are often lengthy, time consuming, costly and every effort should/will be made to avoid the need to make an application.
Read more about our financial and property legal advice.
At Barnes Clark Family Law, we offer up to date expertise on this area of law, which allows us to assist you in coming to a resolution and providing you with informed and specialist advice.
For further information, or to arrange an appointment please contact us on 01274 861096 (Liversedge) or 01423 637272 (Harrogate) or email firstname.lastname@example.org. Alternatively fill in our contact form and we’ll get back in touch with you ASAP. Please note that we offer a free half an hour consultation.