Financial Settlements

Richard Nelson LLP’s divorce lawyers are experienced in helping clients to reach the right financial settlement for their divorce. There are many different routes to a financial order, many of which will allow you to avoid taking the matter to court. Our family solicitors will advise you on the options that are best suited to your situation and can provide any of the legal services that are required by different routes to a financial settlement.

Divorce

Routes to a Financial Order

When the parties try to reach an agreement on finances there are different routes that can be attempted. There is no right or wrong way and you need to select the option based on:

- How you and your partner are able to communicate;
- How eager the parties are to settle;
- The assets in the matter;
- The costs of the route selected and whether this will outweigh the benefits to be achieved;
- The level of knowledge each party have of each other’s financial position;
- Whether the parties have pre-determined ideas of how-to best settle;
- Whether children are involved;
- If there is any urgency required.

Contact Us

Mediation

Mediation is strongly encouraged by the courts. This is a process whereby the parties instruct an independent party known as a mediator to assist in reaching a financial agreement.

During mediation, both parties will have to provide financial disclosure of their respective financial position and the matter is addressed over a couple of meetings.

Mediation can take place with both parties in the same room or in separate rooms.

If mediation is successful then a Memorandum of Agreement is drawn up which is then presented to a solicitors to formalise into a financial order. Richard Nelson LLP is able to provide this service should it be required.

Voluntary disclosure

This process requires the involvement of solicitors.

Both parties complete the same financial form, known as Form E, which is used in court proceedings to provide financial disclosure of their positions. Upon mutual exchange of the information the parties can investigate each other’s financial positions and once satisfied the parties can then make settlement proposals to each other.

If a proposal is accepted then the financial order will be prepared.

Collaborative law

Under this process, each party selects a lawyer trained in collaborative law and meetings take place to reach a financial settlement. Both parties will sign up to the process and this process encourages parties to be fair and open with each other. The meetings take place face to face.

If the process does not work then both parties will need to instruct new lawyers. Our divorce solicitors can help if you are attempting collaborative law for the first time or if you need to instruct a new lawyer.

Arbitration

If the parties choose arbitration, they jointly instruct an independent Arbitrator who they will agree will be able to make a binding decision in their financial settlement. However, the decision will not be binding on the court. If Arbitration is successful then a financial order will be prepared and endorsed by the Court. The Arbitrator will have an independent fee.

This process is private and often has a quicker timetable than court proceedings.

8-6-21-Richard-Nelson-1152-STITCH-scaled-e1644316928329

Obtaining a Financial Settlement in Court

Once the divorce has been filed, either party can make an application to the court to determine a financial settlement. You do not have to be the person who filed for the divorce to make the financial application. To be in a position to commence Financial proceedings:

1. You must have an application in the court for a Divorce or Dissolution
2. You must have attempted mediation unless you have a reason to be exempt.

The court process has three hearings:

– The First Appointment Hearing
– The Financial Dispute Resolution Hearing (known as the FDR)
– The Final Hearing

The matter can be settled by the parties at any point if they are able to negotiate an agreement. However, if they are unable to reach a settlement then at the final hearing the Judge will determine the settlement.

In court proceedings the Judge has the power to make a costs order against any party. Richard Nelson LLP’s solicitors can advise you and ensure that you are properly prepared for your hearings.

Find a solicitor near you

Richard Nelson LLP’s divorce solicitors are happy to work with you wherever you’re based in the country, but we appreciate that many people like to have a more local solicitor for sensitive cases like financial settlements. See below to find out where our family solicitors are based and choose the one who is in the most convenient location for you.

What we do

Our solicitors are able to help you reach a financial settlement whichever route to an order that you choose.

– Formalise a financial order from a Memorandum of Agreement.
– Prepare a financial order after Voluntary Disclosure.
– Assist in a Collaborative Law process.
– Advise and assist you in court proceedings.

Specialist solicitors

Our multidisciplinary team is made up of specialists in a wide range of services, which means you'll always be represented by an expert in your area.

No-strings initial call

Get in touch to arrange a no-obligation, fully confidential call to discuss your case and work out if you want to continue.

Nationwide support

Speak to solicitors in one of our offices throughout England and Wales, or arrange calls and remote meetings.

95%

rated on Reviews Logo

Proudly proving excellence

Information

Stay in touch with Richard Nelson LLP.

8-6-21-Richard-Nelson-0609-min-1

Richard Nelson LLP earns Great Place To Work Certification

ethan-wilkinson-UJdx3XM3xao-unsplash-scaled

Defence Engagement during a Police Investigation

pexels-rodnae-productions-7841479-scaled

Why you need proper legal advice and assistance with a Minded to Bar matter

1 of 3

Contact our legal advice specialists today.

Are you interested in Financial Settlements?

Use the form on the right to get in touch with our team and arrange an initial call to discuss your situation. We will use this no-obligation, fully confidential initial call to learn more about your case and help you understand your options going forward.

Agree*
This field is for validation purposes and should be left unchanged.