Rayhana Kausar, Graduate Chartered Legal Executive in Astle Paterson’s Family Department, provides a brief overview of Financial Proceedings in relation to Divorce.
Rayhana said “Whilst a divorce may bring a marriage to an end, it does not resolve financial ties between the parties.
If the former spouses reach an agreement as to what is to happen to their assets, income and pension between themselves, then this agreement should be recorded in the form of a Court approved Order (known as a Consent Order).
However, in the event the former spouses cannot reach an agreement, then either of them may make an application to the Court to ask that it resolve the matter.”
Rayhana continued “The application to the Court can consist of 3 distinct stages – the First Appointment (First Directions Appointment) hearing, the FDR (Financial Dispute Resolution) hearing and the Final Hearing.
When the Court receives the application it automatically sends out instructions up to and including the First Appointment hearing – prior to this hearing each person is required to file at Court and exchange with their former spouse a completed form (Form E) giving full details of their financial circumstances.
At the First Appointment hearing the Judge will consider the information provided by the parties and decide what further steps are required to ultimately bring the matter to a Final Hearing. This could include valuations of properties and further information regarding pensions. It is likely that after the First Appointment hearing a further date will be fixed for the next Court Hearing – the FDR.
The FDR (Financial Dispute Resolution) hearing is a hearing which takes place on a ‘without prejudice’ basis, which means that either spouse is able to make proposals to resolve the dispute openly and without fear that they any statements of concession can be referred to in a subsequent Court hearing.
At the FDR hearing the Judge will be asked to assist both spouses in their attempts to resolve the matter and it is likely that the Judge will seek to give an indication of what he or she believes would be a fair solution from the information they have to hand.
If an agreement cannot be reached at the FDR hearing, then the Judge will likely give further instructions to get the case ready for the Final Hearing and will seek to fix a date for the Final Hearing (or ‘Trial’).
At a final hearing, each spouse, and any experts where required, will be asked to give evidence and after listening and considering all the evidence the Judge will make an order about what should happen with the assets, income and pensions of the former spouses.”
Whilst dealing with a divorce and resolving financial matters may seem daunting, at Astle Paterson we have the experience and knowledge to ensure that matters proceed as swiftly as possible and that you achieve the best possible result.
It is advisable that you seek immediate legal advice regarding any proposed Divorce.
At Astle Paterson we understand that a divorce can be traumatic and confusing; we are well placed to provide you with excellent advice throughout your divorce. To assist with matters, Astle Paterson (Solicitors in Burton upon Trent, Staffordshire) provide an initial interview at a fixed cost of £50.00 + V.A.T.
Please contact either our Family Department on 01283 531366 or by way of email to rkauser@astlepaterson.co.uk to discuss matters further.
