Financial Remedy Protocol

The financial aspect of a divorce or dissolution is referred to as "financial remedy" (previously known as “ancillary relief”) and involves the Courts issuing “financial orders” to divide up the matrimonial assets. It is generally sensible to sort out the finances before the divorce/dissolution is finalised.

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The Protocol

What is the Protocol?

Financial remedy is governed by a pre-litigation protocol which is designed to keep costs down and avoid a trial where possible. It sets out best practice to be followed and encourages negotiated settlement. The essential parts of the protocol are as follows:

  1. An initial letter should be sent to the other side advising them of the fact that an application is being brought and seeking to agree whether financial disclosure is to be provided before any application is issued at Court
  2. If the other side responds positively, then there should be disclosure and negotiation prior to going to Court. If they do not reply favourably then you should go to Court
  3. If financial disclosure is to take place it should be full and open, to enable proper negotiations to take place
  4. Should either side wish to obtain an expert valuation on any asset they should try to agree this and the identity of the person to be instructed with the other side
  5. If the matter settles by negotiation it will need to be approved by the court via a consent order. If it does not settle a formal application should then be brought. The court will issue directions to see if the matter can settle by negotiation and hold a trial where it cannot.

It is possible to manage this process yourself, or perhaps using the services of mediation, particularly when it is an amicable separation and the financial situation is reasonably simple. You will then only need the services of a solicitor to apply for the consent order. If this is the case we are happy to help in these instances and to give some free initial advice before using the services of a mediator.

What if matters cannot be settled?

If negotiations break down and matters cannot be settled, you are more than likely going to need the services of a solicitor to make a formal application for a financial order. Contact us now on 01935 823883 to see how we can help you through this process.

For financial orders advice call us on 01935 823883