Reaching an agreement on how you will divide up your property, other assets and debts after your relationship is over is the other important job facing people who separate. Going to court to get a court order can cost tens of thousands of dollars.
In effect fighting rather than negotiating “shrinks the pie” by syphoning a significant percentage of your money into the pockets of lawyers and delaying the inevitable by many months or even years if one or both of you get so caught up in the fight that you won’t settle till you get a final order from a judge. Even then there is the possibility of appeal and further cost and delay to the process of rebuilding your life following your relationship breakdown.
The Financial Settlement Mediation is the smart alternative. The process involves one of our FDR practitioners meeting with you and your former partner to help you identify and clarify all of your assets and liabilities. They will then facilitate a discussion between you, so that options for dividing your assets and liabilities can be proposed. Mediation helps to negotiate a mutually acceptable Financial Settlement Agreement. The Financial Settlement Agreement can document what to do about real estate, cars, superannuation and other assets. It will also consider spousal support if one person in the relationship is unable to earn sufficient income, usually due to their health or child care obligations. Usually done as part of the parenting plan.
If you have just separated the FDR Practitioner can help you to work out interim arrangements to keep mortgages paid and a roof over everyone’s heads until a more permanent settlement can be negotiated later.
We strongly encourage you to seek legal and where necessary, financial advice, before agreeing on the terms of a Financial Settlement and applying for Consent Orders as they are a binding and final order of the court based on what you have agreed to.
You can meet face to face, via video mediation and even include lawyers or other advisers in the mediation session if everyone agrees to the inclusion of the other people.