Financial Remedy Proceedings
FINANCES UPON DIVORCE/DISSOLUTION CAN BE STRESSFUL BUT WE ARE HERE TO SUPPORT YOU AND MAKE THE PROCESS AS STRESS FREE AS POSSIBLE.
Throughout the financial process, we will support you in trying to reach an agreement via Alternative Dispute Resolution in the hope court proceedings will not be necessary. However, this is not always possible and if court proceedings are required or is the appropriate route, we will be here to support and advise you at every stage.
If an agreement is reached at an earlier stage, a consent order can be drawn up to formalise the agreement which will be lodged with the court once the first order of the divorce/dissolution, Decree Nisi, has been obtained. Our family team can assist you in the process of obtaining a consent order.
Stages of Financial Remedy Proceedings:
- Consider Alternate Dispute Resolution and/or obtain a MIAM certificate (unless exempt).
- Form A is filed with the court and issued.
- First Directions Appointment (‘FDA’) is listed to try to assist the parties in narrowing the issues and decide what further information or evidence may be required to resolve the case.
- Financial Dispute Resolution Appointment (‘FDR’) is listed to try to resolve the issues between the parties. The FDA can sometimes be used as an FDR. At an FDR the court will usually give an indication of their views for the outcome at a final hearing. The FDR judge will not be the judge at the final hearing.
- Final Hearing where a Judge will decide on the outcome based upon written and oral evidence at trial.
- Order is made.
- Order is implemented.
Factors considered within Financial Remedy Proceedings:
When considering the financial proceedings, the court will take into consideration the factors set out in Section 25 of the Matrimonial Causes Act as follows:
- The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;
- The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
- The standard of living enjoyed by the family before the breakdown of the marriage;
- The age of each party to the marriage and the duration of the marriage;
- Any physical or mental disability of either of the parties to the marriage;
- The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;
- The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;
- In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit (in practice this is restricted to loss of pension benefits).
To consider the finances both parties will need to complete a Financial Statement (Form E) in order that the finances can be assessed. With the Form E both parties will be required to produce supporting financial documents including cash equivalent values of any pensions they hold, bank statements, property valuations etc. Financial disclosure is required to assess the fairness of a settlement.
If you and the other party reach an agreement without a divorce/dissolution being instigated, it may be sensible to record this in a separation agreement. Further information can be found here.
Following divorce, your Will may be affected. You will therefore need to consider making a new Will. If you require advice in respect of a Will then please contact Simon Latchford from our Wills & Probate team.
If you need advice regarding the financial arrangements following your
partner and wish to discuss divorce/dissolution then please do not hesitate to contact us at either our Hythe or Ashford offices or by email to our Family Chartered Legal Executive at or call her on 01303 233 529.
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