When getting divorced, what are the benefits of going through Financial Mediation?

After a relationship ends, reaching an agreement about finances can sometimes feel daunting and overwhelming.

Financial family mediation can be an effective way to work through these issues.
In this article, Family Partner, Simon Immins explains what financial mediation is, how it works, and the benefits it can offer…

What is Financial Family Mediation?

Family mediation is a process where an independent, professionally trained mediator helps you work out arrangements for finances following a separation.
Mediation helps you stay in control. No-one will make you do anything against your wishes.
The process is less stressful and significantly quicker than going to court and can save you money.

You can read our dedicated article on what the different types of family mediation are here.

What is the role of a Financial Mediator?

The mediator’s role is to help you find a solution which works for both of you and will explain what needs to happen to make an agreement between you legally binding.
Mediators have helped hundreds of thousands of families to agree on financial arrangements after separation, and to find a way to parent their children co-operatively after separation.
Mediators work with separating couples in ways that are flexible and tailor-made for your situation.  You do not have to be in the same space as your ex if you or the mediator decides that working with you in separate spaces would be preferable.

What can Financial Mediation cover?

Financial Mediation can help separating couples make agreements about dividing their financial resources, including assets like,
•    Property,
•    Savings,
•    Pensions, and,
•    Liabilities such as debts.
It also covers ongoing financial arrangements like child support and maintenance.

What questions are asked during financial family mediation?

If the disagreement revolved around the parties’ children and child arrangements, the mediator would ask questions that help each party:
•    Outline the current child arrangements (i.e., who the children live and spend time with)
•    Assess their children’s physical, emotional and educational needs
•    Consider their children’s wishes
•    Come to an agreement, taking into account all of the above, with the children’s needs and wishes the paramount consideration

Related: Divorce and child arrangements - What do parents need to consider?

What are the benefits of going through Financial Mediation?

Financial mediation offers various benefits due to parties being able create their own agreements rather than having a judge impose one.
•    You are in control: You and your ex-partner decide the outcome, shaping an agreement that reflects your specific needs and circumstances, rather than a judge making a decision for you. 
•    Cost savings: Mediation is often less expensive than lengthy court proceedings, helping to avoid significant legal fees. 
•    Often quicker than the court process: Mediation can lead to a quicker settlement than traditional litigation, which can be subject to delays and court backlogs. 
•    Reduced Conflict: A neutral mediator facilitates constructive dialogue, which can help to minimize hostility and misunderstandings, preserving relationships when possible. 
•    Promotes Understanding: Mediators help parties see each other's perspectives, leading to more informed decisions about complex financial issues. 
•    Confidentiality: Mediation sessions are confidential meaning that matters raised within the mediation process cannot be raised in court by either party.
•    An agreed solution: Unlike the "one-size-fits-all" approach of court, mediation allows for flexible, creative solutions tailored to your unique situation. 
Financial Mediation fosters open communication, reduces conflict, and provides a confidential and private process to divide assets, handle debts, and arrange for support in a way that works for everyone involved. 

Do you have to try Mediation before Court?

Before making any court application both parties are expected to have actively tried other forms of dispute resolution, including mediation. This is expected even if you decide that mediation is not the way forward.
If the courts believe that mediation hasn’t been properly tried they can adjourn (delay) the court process for mediation to be tried.

What our experts have to say

“Although mediation may not be suitable for every situation when it works it can work very well.”
“As you guide the process and make decisions together, separating couples can often communicate better and agree on what matters most to both of you.” Family Partner and mediator, Simon Immins.

Specialist Family Mediators

With over 30 years’ experience as a Family Solicitor, Simon Immins can give an insight as to how courts may view certain solutions.

We offer all new potential mediation clients a free initial chat.

During this chat, he will be able to discuss with you whether or not mediation may be suitable in your circumstances.

To arrange an initial chat, call us on 01202 499255 or fill out the form.