Divorce - Mediating your Divorce Settlement (Complex Cases and Pensions)
Mediating Your Divorce Settlement - Multi Session Model
It makes sense to mediate your divorce settlement. It is very easy for the costs of litigation to exceed what you are arguing over. Conduct a cost benefit analysis on the costs of your dispute resolution process and remember with mediation, you share the cost of your mediator. Mediation is much faster than the conventional bi-partisan model of negotiation or court.
How a Financial and Property Mediation Works
(Multi Session, Not One Day)
The same financial information is required in mediation as if you were going to court or negotiating a settlement via lawyers or Collaborative Law. We work with the court Form E and the same financial documents any lawyer would expect to see to verify the financial facts. This means bank statements, P60s, business accounts, pension valuations (CEVs) – everything relevant to your case. Your mediator will go through your financial documents and prepare an Open Financial Statement and asset schedule. The process is not forensic, but it is thorough. If there is a valuable final salary pension then it is likely a pension actuary‘s report will be required to ensure your settlement makes optimum use of your financial resources and takes everything into account fairly.
We can bring in the right expertise to help you to get the best outcome
we regularly work with:-
to establish the best way forward, even in complex cases. By focusing on achieving good outcomes, rather than on fighting and arguing a case, better overall outcomes can be achieved faster and at lower cost.
The Timetable For Normal Multi Session Family Mediation
The timetable for a financial mediation is as follows:-
Assessment – together or separately (MIAM)
First mediation session to go through Forms E and your documentation, collating the figures on a flip-chart
Between sessions the mediator drafts an Open Financial Statement and sends it to you
You both carry out any action-plan, such as finding out about housing and mortgage options
Any relevant experts will be asked to help you on the basis that they have an equal duty of care to you both
Options analysis – we look at the various ways of sorting out your settlement and follow through with the implications of each one for you both
You can take legal advice on the options under discussion
You agree on the best options for you and finally,
The mediator drafts a Memorandum of Understanding setting out your proposals for the settlement. This is not binding, but your lawyers can make it binding in a separation deed or consent order in the context of divorce
Normally this process takes between 2 and 5 sessions of 1 - 2 hours depending on the complexity of your affairs and your approach to mediation.
How Long for Multi Session Family Mediation?
The mediation can proceed as fast as you like although it is normally better to allow a few weeks between sessions as there are likely to be things you need to do or find out about between sessions. However, assuming all the information required is available, the sessions can be telescoped together, if you want, for a faster outcome.
We have all our information. Then you can have a one day mediation and sort it out straight away. Job done!