UKJun 20 2018

Why divorcing couples and families need to find alternatives

  • Learn about how divorce proceedings work now and why there is demand for reform.
  • Understand some of the options available to divorcing couples that may ease the process.
  • Consider what role advisers can play in mediated divorces.
  • Learn about how divorce proceedings work now and why there is demand for reform.
  • Understand some of the options available to divorcing couples that may ease the process.
  • Consider what role advisers can play in mediated divorces.
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CPD
Approx.30min
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CPD
Approx.30min
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CPD
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Why divorcing couples and families need to find alternatives

However, many governments have been and gone without this issue being tackled, and there are many couples who need practical, cost effective help right now.  

In my experience, our adversarial legal system works very well for corporates and companies, but for families in crisis it can be a nightmare.

As a divorce barrister I have first-hand experience of how difficult our adversarial process can be for the families within it. 

Thankfully, there are a few other options available.

Mediation is one – and since 2013 couples have been actively encouraged to consider this as an alternative.

A new law meant that couples now have to attend an initial information and assessment session to see whether it would be better for them to use mediation than to get embroiled in a legal battle over dividing property and agreeing child custody arrangements.

Collaborative law is another option – in this instance, couples appoint their own lawyers but take part in four-way meetings which help reduce antagonism and encourage everyone to come to a workable ongoing arrangement.

London is known as the ‘divorce capital of the world’ and although it is likely the city will continue to lead in this field, it is expected that we will see more conciliatory options for couples.

Financial advice 

So why should a financial adviser be minded as to what sort of divorce their client has?

Many reading this article will be all too familiar with the paperwork involved – the ‘form E’ for instance, which is the financial statement for a financial order. This gives the court all the details relating to an individual’s financial position. 

But the role of financial advisers in a divorce process is imperative – much more than just a form-filling exercise, especially if the couple has significant assets cross-border.

Their assistance will include the disclosure process, structuring a settlement and important tax considerations.

If a financial adviser’s clients decide to use mediation or another conciliatory approach, this makes the whole process much easier, more transparent and ultimately cheaper for everyone involved. 

They can provide invaluable help in putting together future budgets and for calculating capitalised maintenance. If a spouse is wealthy, the adviser will be relied on to provide clarity in the divorce process, in particular as to the scale of assets and how they can be realised.

However, for a financial adviser, divorce can be a stressful time.

Until the point of divorce they will often have advised the couple together. However, they can be put under pressure during litigation to be more partisan, which can make it difficult at the end of a divorce to maintain an ongoing professional relationship with both sides. 

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