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Financial remedies FAQ

If you are going through a divorce and have concerns about the finances, property or child maintenance following your separation, then you may need a Financial Remedy Order.

In some cases, two parties can mediate and agree on the distribution of their assets following divorce,

However, there are often disagreements, which necessitate the input of a Judge.

Here are some steps on how to navigate a Financial Remedy Order

What is a financial remedy order?

A Financial Remedy Order is a legal decision by the Court on how to divide finances, property, and other assets after a separation.

This includes money in bank accounts, investments, pension funds, business assets, and arrangements for the family home.

Going through a divorce is a difficult time for all parties involved, and the burden of financial and property disagreements can make things worse.

When dividing assets, if mediation does not lead to a solution, a Financial Remedy Order can be made to help divide the money and property between both parties.

“Consulting a legal advisor is important when going through this process, as it will ensure you are properly represented and your assets are distributed fairly”, says Elaine Collins, Senior Associate.

Why would I need a financial remedy order?

In cases where both parties agree on a financial settlement, the agreement should be legally binding by having a consent order approved by a financial remedy judge.

If parties don’t agree, the judge must ensure that the outcome is fair for both, so having the Court decide these matters is a good way to protect your financial future while maintaining a healthy relationship.

How to get a financial remedy order?

You will need to attend a Mediation Information and Assessment Meeting (MIAM). This is to understand if mediation can help to reach an agreement between both parties.
If mediation is not successful, you can apply to the court for a Financial Remedy Order.
Using Form E – a financial disclosure document that’s required by the court in divorce dissolution proceedings – prepare a financial statement, including information about income, property, pensions and other assets.
The First Appointment is the initial court hearing where the judge reviews financial disclosures and sets a timetable for the next stages. The judge may require additional reports or disclosures. This appointment cannot be scheduled until 12 weeks after the application date, allowing both parties time to prepare and review their financial disclosures.
Financial Dispute Resolution (FDR) is the second appointment in the court hearing. This is a chance for both parties to try and agree a financial settlement through negotiation. It is more informal than a court hearing, so it is more likely that parties will reach an agreement.
Final hearing. If the FDR does not end in an agreement. Parties may be required to give evidence under oath, A judge will sign the Financial Remedy Order, specifying how the finances and assets are to be divided.

Elaine advises: “If you are going through a separation and are facing the prospect of a Financial Remedy Order, then it is important to get the right legal advice. It can be a sensitive time for both parties and their loved ones, and it is important to make sure the process is as smooth as possible”.

Get in touch with one of our advisors if you would like more information.

Elaine Collins

Senior Associate

I have spent several years specialising in complex private children matters including situations where one parent lives outside of the UK’s jurisdiction, requiring urgent applications to safeguard children and change of residence.

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