Family mediation the financial aspects
Family Mediation is a process where two people, for example a separating couple or other family members, agree to an appointment with an accredited Mediator. The aim of the mediation process is to help sort out some of the practical details which may relate to separation, divorce, civil partnerships, child contact arrangements, parenting plans, grandparents, financial matters or any other issues surrounding the breakdown of a relationship.
Within the mediation process part of the issues to be discussed and agreed upon may be to do with the family financial situation and how it is going to work in going forward in separation.
When considering a family’s financial situation and position and how to work out what is going to happen following separation it has very much the same mechanism whether you decide to look at the position between just the two of you, or with the assistance of a Solicitor, or whether you choose to seek help from an alternative dispute resolution method such as Mediation.
Within the process your Mediator will assist you in structuring financial disclosure to help you understand the overview of your financial positions both as a couple and as individuals. This will include gathering information and examining facts and figures on income, property, capital, pensions and any other financial assets there may be together with any liabilities. Your Mediator can also identify where it might be helpful to gain further information or point you in the right direction to seek other resources, such as a financial advisor.
Once the financial disclosure process has taken place, and you are both fully aware of your financial picture, your Mediator will then help you to start negotiations and manage discussions on how you might move forward financially as two individuals with being able to realistically look at options as to how you can meet the future financial needs of your family.
Mediation gives you the benefit of facilitating discussions with each other at your own pace with a view to reaching your own informed decisions together around the table. Any questions can be raised within the meetings and at the time they arise can be dealt with or agreed upon there and then.
It can be more cost effective, quicker and the outcome by this method would assist in respectful communications with less, or hopefully no, animosity between the two of you. If successful, it will also be without the need for there to be protracted Court proceedings.
The overall aim is to assist in bringing the two of you together on agreement before seeking independent legal advice on the proposals put forward that can then be incorporated into a legally binding agreement.
Deborah Whicker (pictured) is an Accredited Family Mediator with the Family Mediation Council, who is passionate about supporting families and resolving relationship breakdown and separation issues with a constructive and practical approach. Deborah is also a Child Inclusive Mediator, which qualifies her to undertake direct consultation mediation with children. If you would like more information on Franklins’ Mediation services please contact firstname.lastname@example.org or contact Deborah Whicker on 01908 660966 or 01604 828282.