mediating financial issues

When mediating financial issues, couples are asked to provide full financial disclosure, exactly as if the matter were going to Court.

It is impossible for legal advice to be given, or for the matter to be made into a Court Order without this being forthcoming. [Sometimes couples come to mediation with only one or two issues to settle, or where disclosure has already been made through solicitors, and in these cases disclosure may not be required to the same level.]

The parties discuss the issues that are important to each of them so these can be prioritised. Their mediator explains the law surrounding their particular situation, and the sort of things that a Judge would need to take into consideration before making an Order. This helps the couple see things within the legal framework, although the mediator will not give specific legal advice to either party.

However, if the mediator believes that the settlement that the parties are seeking unduly prejudices either one of them to the extent that it is unlikely that a Judge would make an Order under these terms, the mediator will tell the parties. If at any time the mediator feels that either or both of them need legal advice, the mediator will say so.

Sometimes there is more than one option on the table, and the parties are asked to seek advice before the next session. The mediator will prepare a Summary of Options, setting out the ‘pros and cons’ of each option and giving an outline of their respective financial positions, the law that affects them and the position of each party and things that they need to take into consideration.