Financial Remedy Solicitors Berkhamsted, Amersham & Beaconsfield
What is a financial remedy?
For divorcing couples, reaching an agreement over property and finances can often be difficult and emotional. If divorcing couples cannot reach an agreement, they can make an application at court for a financial remedy order. Financial remedy is the process that occurs where the court helps to decide on the division of assets.How long does a financial remedy take?
It can take a long time to get a financial remedy order. The process can take around 6 to 12 months. As part of the process, often several hearings are required. The first hearing, ‘The First Appointment’ should be scheduled within 12 to 16 weeks after the application is made.How do I start a financial remedy proceeding?
The initial step is to file a Form A document with the court. Your solicitor can prepare this on your behalf and will be able to advise you regarding the process and court fees.How much does a financial remedy order cost?
Currently, the cost of applying for a financial remedy court order is £275. It is uncommon for the court to order that one party pay the other’s legal fees, however, they may do so where it considers it appropriate due to the conduct of a party in relation to the proceedings.Can Financial Remedy be obtained by mediation or without going to court?
You would only apply for financial remedy if out-of-court negotiations and mediation have not been successful. If you are able to reach an agreement with your former spouse without going to court, you can obtain a Consent Order.What is the standard procedure for obtaining a financial remedy?
The financial remedy proceedings would usually involve the following:Stage one:
Issue a Form A to the court. The court will arrange the first hearing known as the ‘First Appointment’; this will be between 12 and 16 weeks from the application date. The court will also direct both parties to provide full disclosure and will require certain other documents to be provided before the appointment date.
Stage two:
The First Appointment takes place before a judge. This hearing is administrative in nature and its purpose is to define the issues in the case and to ensure the court has all the information it needs to assist the parties in reaching a resolution at the next hearing, the FDR.
Stage three:
The Financial Dispute Resolution hearing (FDR) will take place. By this time both parties should have provided full disclosure and the true asset base should be known. The hearing takes place ‘without prejudice’ and the role of the judge is to assist the parties in reaching a financial agreement by giving an indication of what he/she thinks the likely outcome would be at a trial. . Many cases settle at this stage. However, if settlement cannot be achieved, the court will give direction for the matter to proceed to a Final Hearing.
Stage four:
The Final Hearing. The judge considers all the documentation, information and evidence a before coming to their decision and making a final order.
Can you challenge or appeal against the financial remedy?
The courts believe that it is in the public interest to achieve finality and for this reason it is very difficult to challenge or appeal a final financial remedy order. In fact, the ability to challenge or appeal is in exceptional and limited circumstances, for instance if the judge has made a mistake in applying the law or when an event has occurred soon after the order has been made that is significant enough to invalidate the terms of the order or if there are specific grounds for it to be set aside.
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