Finances 

In most cases, financial matters have to be resolved following the breakdown of the marriage. Whilst some people are able to reach an agreement between themselves, others require the assistance of solicitors before an agreement can be reached. A small number of people are unable to reach an agreement at all and in those cases the Court will eventually decide the terms of the financial settlement.

Areas Covered

Financial matters are normally split into two categories, capital and maintenance. Capital covers things such as property and pensions whilst maintenance covers payments to an ex spouse for his or herself and payments to an ex spouse for and on behalf of the children. 

Disclosure

It is vitally important when dealing with financial issues that both parties are fully aware of the other's financial situation. This requires both parties to provide full details of their income and capital positions and to answer any questions the other party might have in respect to this information. If a party is not prepared to make full and proper disclosure the likelihood of achieving a negotiated settlement will be greatly reduced.

In most cases disclosure is carried out by the parties completing and then exchanging what is known as a Form E. This is a fairly comprehensive document which, when completed correctly, provides nearly all of the information the parties, their solicitors and the court will need. To view or complete a Form E online you will need Adobe Acrobat Reader which you can get free by clicking the button below.

Agreement

An agreement can be reached at any stage prior to the final court hearing and for the vast majority of people this proves to be the case. Once an agreement has been reached, the terms of the agreement are recorded in a Consent Order which is then sent to the Court for approval. If agreement cannot be reached one or other of the parties will have to make an application to the Court, although this does not mean that an agreement cannot still be reached after this date.

Application to Court - The Procedure

FDA

The court will fix a date for the first hearing, known as the First Directions Appointment (FDA). and will also require both parties to send various documents to the Court and to the other side prior to the FDA.   The FDA normally lasts for around 5-10 minutes and its primary purpose is to allow the Judge to set out a timetable to deal with the progress of the case and, if possible, to identify the issues between the parties. The court will also set a date for the next hearing.  

It may be the case that after the First Directions Appointment an agreement can be reached in which case a Consent Order is drawn up.

FDR 

If an agreement cannot be reached at or after the FDA the case proceeds to the second hearing, known as the Financial Dispute Resolution Hearing (FDR). At this hearing the parties have to set out what offers they have made to date in an attempt to settle the dispute. The Judge will play an active part in this hearing and will try, wherever possible, to bring about an agreement between the parties. This will include the Judge giving a clear indication as to how he/she thinks the case would be decided if it went to a final hearing.

It is important to note that whatever is said at this hearing remains confidential and cannot be referred to at the final hearing. In addition, the Judge who hears the FDR hearing will play no further part in the case.  

Final Hearing

If after the FDR Hearing an agreement has still not been reached, the matter proceeds to a fully contested final Hearing at which the Court decides what each party is to receive.

For further information or to commence the process of obtaining a financial settlement please contact us or email us a copy of the completed Form E.