Finance and property

When a couple separate there are often financial and property issues to be discussed and agreed. A mediator can help you do this in mediation.

What is Finance and Property Mediation?

This may include the family home, mortgage, rental agreements, cars, the contents of the home, building society accounts, bank accounts, savings, pensions , maintenance and child support. Finance also includes all income and expenditure. This list is not exhaustive.

How does it work?

When considering financial and property issues the mediator will help you to;

• Clarify your property details and finances. This may sound strange, however a separating couple may not know all of the details of their own and each other’s property, income and expenditure. This is normally done by asking you and your partner/former partner to complete a financial questionnaire (often called the Form E) and supply supporting documents. This is exactly the same as you would be asked to do if you went to court.
• Identify areas of agreement and difference. It may be that some things are clear cut and others may be more complex and need further investigation.
• Prioritise the issues.
• Examine options giving consideration to needs and expectations.
• Formulate proposals acceptable to both of you. For instance, is the house to be sold now or at a future stage? How do you divide the proceeds?

Why do I need to do this?

To ensure

• That you fully understand each other’s financial situation and needs prior to any proposals being reached.
• That your receive the correct information from the mediator regarding your options.
• To enable you to receive independent legal advice upon any proposals before they are made into a court order.

How long will it take?

Usually it takes between two and four mediation sessions. There may be some time in between sessions as you may be asked to complete questionnaires and obtain supporting documentation. This will dictate the pace forward.

What happens at the end of the mediation?

The mediator normally prepares a Memorandum of Understanding; this is a document setting out your situation and proposals and may be shown to a Solicitor to obtain independent legal advice. If you wish, it is possible to have this document implemented as a legally binding agreement which a solicitor can do for you.

All issues mediation