Marriage breakdowns can be extremely stressful. Many partners are often left devastated not only by the emotional pain of the experience but also by the important decisions that need to be made about the future regarding not just children (if the marriage or relationship had them) but also finances and properties. There are many options available for separating couples to solve their differences and determine how their finances and assets are to be divided among them.
One of these options is family mediation.
Mediation has been found to be one of the best ways of deciding how family finances and properties should be divided among separating couples. Through mediation separating couples get an opportunity to discuss their differences in the presence of a well-trained and skilled mediator who helps them work out a solution that is acceptable to both of them. Here is a look at some of the things you need to know about property and financial mediation local UK that applies for properties and assets that are in UK and abroad.
The process of mediation
Mediation dealing with finances or properties both at home and abroad proceeds on the basis that there is frank and full disclosure from each of the parties involved in the mediation. In fact, it is a legal requirement that this disclosure happens before any mediation can start. It is these disclosures that set the context for subsequent discussions about the respective proposals of the participants and also determine whether or not a proposal is fair to the parties involved.
Why you need solicitors even in mediation
Even though you can have successful mediation with a trained mediator alone, it is advisable to seek the advice of a solicitor before and during the mediation process. A solicitor will help you understand your rights as well as responsibilities before you attend any of the mediation sessions. They will also let you know what the law says about assets and property division. This information will help you get a favourable outcome.
Advantages of using mediation over other dispute resolution mechanisms
- Low cost
Compared to litigation, mediation is very cheap. While a participant may obtain legal advice from a solicitor during the process, the use of solicitors is not as extensive as it is in litigation. This helps to keep the legal bills to a minimum.
Mediation is much quicker than other dispute resolution mechanisms such as litigation. On average litigation takes around a year and a half to complete. In some cases it can go on even for as many as ten years or more. Mediation, on the other hand takes an average of just around three months.
- Leads to better outcomes
Mediation also leads to better outcomes. It has been found that two out of three couples usually reach a settlement acceptable to both of them using mediation. The relative success of mediation can be attributed to the fact that participants are actively involved in the discussions leading to the decisions arrived at and, therefore, own them. This is unlike in litigation where a judge imposes their decisions on the participants even if one of them feels the decision is unjust.
If you need property or financial mediation local UK, you will be spoilt of choice because of their large number. With an experienced and skilled mediator you will be able to quickly divide your properties and assets in a way that both of you will find to be fair.