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Separating your Finances Without it Costing the Earth

View profile for Shelley Wales
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When you decide to separate or divorce, a huge worry for many couples is what will happen to the family finances, particularly the family home. This can be an extremely stressful time for separating couples and the prospect of having to discuss and agree on how to split the family finances can lead to disagreements and friction, often culminating in a stalemate.

Almost always, problems are best solved when people talk, and listen to each other. Communication is paramount if you are going to achieve an amicable and mutually agreeable outcome. When relationships end, or there are disagreements, emotions can run high and talking face-to-face can be extremely difficult. Family Mediation can help to get the conversation started and can help maintain focus on what really matters to you and your family, cutting down the need for expensive legal fees.

'Mediation allows you to explore all the
options in a 'without prejudice' environment'

Mediation can help you resolve how best to divide your finances by talking through your concerns or worries about your future in a calm, honest conversation about each others finances, anxieties, and goals. Mediation allows you to explore all the options in a 'without prejudice' environment. This means that you can make offers or proposals and if they are rejected you are not stuck with them.

A Mediator will meet with you and your partner together and will identify those issues you can’t agree on and help you to try and reach agreement.

'Mediation is usually quicker, cheaper, less stressful and provides
better outcomes than contested court proceedings'

Mediators are neutral and will not take sides, so they cannot give advice to either of you. They will usually recommend that you obtain legal advice alongside the mediation process and will guide you as to when this should happen. Mediation is usually quicker, cheaper, less stressful and provides better outcomes than contested court proceedings and can reduce both the financial and emotional costs of family breakdown. Mediation allows for constructive dialogue rather than risking a judge deciding things for you, which may lead to an outcome neither of you wants, not to mention the cost of a court case for the family.

Mediation allows the parties to decide what works for them, giving them a chance to have a better sense of control over their lives without having a court decide what should happen.

Through mediation you can navigate a settlement with the support of your lawyer without ever having to attend court, avoiding expensive court fees and court hearings. Where an agreement is reached the lawyers can draft an agreement and submit it to court ensuring any agreement is legally binding, avoiding protracted and expensive court proceedings.

How do I get in touch?

Call us at any of our four offices to discuss your needs and to make an appointment.

Westbourne House,99 Lidgett Lane, Garforth, Leeds, LS25 1LJ
Tel: 0113 246 4423

25 Bank Street, Ossett, WF5 8PS
Tel: 01924 586466

Sherburn in Elmet
6 Finkle Hill, Sherburn in Elmet, Leeds, LS25 6EA
Tel: 01977 350500

Bank House, 1 Burton Street, Wakefield, WF1 2GF
Tel: 01924 290029

About Shelley Wales

Shelley is a Family Law Solicitor at Thornton Jones Solicitors. Shelley joined the Thornton Jones Family Law team in September 2018 after honing her skills in family law at Ramsdens solicitors where she spent 10 years. Shelley is a qualified Family Mediator and is working towards full accreditation. She specialises in dealing with the financial aspects of divorce and separation, and has a real interest in unravelling the finances of unmarried couples through the Trusts of Land and Trustees Act 1996. Shelley is a member of Resolution and is committed to resolving family disputes in a non-confrontational way wherever possible.

The content of this blog post is for information only and does not constitute formal legal advice and should not be relied upon as advice. Thornton Jones Solicitors Limited accepts no liability for any such reliance upon this content. Where the post includes links to external websites, Thornton Jones Solicitors Limited accepts no responsibility for the content of such sites. Any link to a third party website should not be construed as endorsement by Thornton Jones Solicitors Limited of any content, products or services which are outside our direct control.

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