Separating from a partner can be a daunting and stressful time. Whilst you may have come to terms with the relationship being over, it is likely that you and your ex may share assets (such as property or bank accounts) and so a decision will need to be made as to how to separate these.
Firstly, we would always recommend that you seek legal advice prior to any negotiating. It is important you know ‘where you stand’ before you try and come to an agreement. It may be that you and your ex are amicable and so can discuss the finances between you, but this is often not the case.
One option available is to attend mediation. A specially trained mediator will try to assist you and your ex to come to an agreement. Whilst mediation is entirely voluntary, if you wish to issue Court proceedings to settle the finances then you will need to have attended a meeting with the mediator, often called a MIAM. As solicitors we are often consulted by our clients throughout the course of mediation, to take legal advice at many stages. We can advise on the fairness and legality of the agreements reached and then ultimately help clients put an agreement into a legally binding document if necessary.
Another option is to negotiate through solicitors and exchange voluntary disclosure.
If negotiations do not conclude with an agreement, you may need to consider making an application to the Court to settle the finances. Should this be necessary, we can advise you on the next steps.
If you would like advice on family matters, including divorce and children matters, please contact our Danielle in our Family Team on 01243 790532 or email firstname.lastname@example.org
This blog is for information purposes only and should not be interpreted as legal advice.