Financial Remedy Solicitors in Birmingham

If you have managed to agree a financial settlement with your partner either through private negotiation or with the assistance of a mediator, then you will need to draw your agreements up in a Consent Order.

The Order comprises of your agreements along with standard statutory elements which bar either party from bringing any further claim against each other once the Order is made. This is known as 'clean break' and is what separates both parties from their financial obligations to one another.

This Order will then be signed by both you and your partner who may wish to take their own legal advice on the contents before signing. The Order is then considered by a judge who will ensure the contents are fair and no undue influence was present whilst coming to a settlement.

The financial remedy process is a multi-faceted one and often takes months if not years to run its course. It begins with an application to the Court through a form called the Form A. In order to make this application, you will need to have attended mediation or acquired a signed form from your Mediator advising that mediation is not an option.

Once an application is issued, the Court will list the matter for a first hearing known as an FDA. Before this hearing, you will be required to submit your financial information to the other party through a Form E. This disclosure is so both parties and the court can ascertain the full financial landscape and proceed to attempting to divide the assets and reach an agreement. If the landscape is disputed, then parties are able to ask questions to get a clearer picture of the other parties assets.

The matter will then be listed for an FDR which is a private hearing in which you are expected to have already attempted to negotiate or have sent your offer to the other party to settle. The judge at this hearing will consider offers made and provide an indication of what a judge at a final hearing would likely Order. This should assist parties in negotiation and majority of financial remedy applications conclude at this stage as parties then concede positions and agree a settlement which is favourable to both sides. They also conclude matters early so not to incur the hefty legal costs of going to a final hearing.

Yes.

It may be possible for you to retain the home you are staying in even if it is not in your name. You will need to provide to the Court however an explanation as to why you need this house and you cannot live elsewhere.

Some reasons may be that the house is adapted for a child or you, that you are unable to rehouse elsewhere in the area due to affordability or that you have sufficient funds to buy out the other party of their share.

Property adjustment Orders are not rare, but assessed on a case by case basis. Please call our office to discuss your matter to see if you are able to retain your home.

Pensions can be very lucrative and all our clients are always advised on engaging in mutual disclosure before negotiating a settlement so they do not miss out on undisclosed pension benefits.

Pensions secure you for your retirement and many people fail to think of this when divorcing. You should note however that pension sharing or attachment Orders come at the end of costly litigation and should only be pursued where the pension is high enough to counter the costs. We generally advise clients to pursue a claim against an ex partners pension where the pension Transfer Value is above £200,000.00.

Call our dedicated family lawyers to discuss how we can help you in your financial remedy matter on 0121 690 4000.