Financial Arrangements
The second part of the divorce process, is to determine how the assets should be shared, and if any maintenance payments need to be made.
The following 4 steps explain simply how this process is carried out. If you’re not certain about anything on this page, or indeed anywhere else on this website, get in touch with us and we will be happy to help you get the job done at an extremely competitive rate.
Step 1: Ancillary Relief
To begin the divorce process, one spouse has to apply for ancillary relief. This can only be done once one of the parties has petitioned for divorce.
Step 2: Financial Disclosure
This step requires both parties to disclose absolutely everything in relation to their financial circumstances. This is done by swapping financial declarations (including pay slips, bank statements etc.), on the infamous form E.
Step 3: Negotiation
This is where each party attempts to negotiate an agreement. A judge at an FDR (Financial Dispute Resolution) hearing provides an opinion that will help each party decide.
Step 4: Financial Order
The (usually) final step is to reach an agreement and sign a Consent Order (98% of cases reach a deal). A very small minority proceed to a final court hearing, where a settlement is imposed by a Court Order.
If you feel overwhelmed by all of this, and you need a little help or guidance then feel free to contact the experts at Hylton-Potts by clicking here for our telephone and email details. At Hylton-Potts we have huge experience and skills in this field. We are cheaper and better than solicitors.
