If you have decided to enter into the mediation process to settle divorce matters, you may be concerned whether what has been agreed in the sessions can be upheld. Negotiating the terms of your financial arrangements can be challenging, but a trained mediator can help to facilitate a structured discussion.
Mediation can provide a useful and efficient pathway for financial settlement and financial security for both parties. In this article, we discuss how you can make mediation negotiations binding through the use of a financial consent order.
Is mediation binding?
One of the most common worries of using mediation is that decisions made during the process are not binding, and that it does not provide enough certainty for parties. However, this is not the case. Family mediators can set out what has been agreed and provide the first draft of a document that can be made into a legally binding financial consent order. Mediation is a process with a view to creating legally binding obligations for both parties.
What is a financial consent order?
A financial consent order is a legal document that makes any financial agreement reached during family mediation legally binding. It is an order made by the court and can address any financial matters you have discussed in mediation, including shared property, cash, pensions, and other assets. A financial consent order may also set out details of any ongoing payments to be made between the two of you.
In order to obtain a financial consent order, you must first have agreed on the details of your financial arrangements with your spouse. You can do so during the mediation process and the mediator or your solicitor may take note of what has been agreed, before creating the first draft of the legal document.
You will then ask the court to accept the agreement by submitting an application. It is essential that an experienced family law solicitor drafts your financial consent order to ensure that it is not rejected by the court. Once the court has approved your consent order, you can proceed with your divorce. When you have reached the final stage of divorce, the financial consent order will come into effect.
It’s worth noting that you may only ask the court to approve your financial consent order once the court has agreed that you can get divorced.
What are the benefits of agreeing on terms and creating a draft during mediation?
As discussed above, you can agree on the terms of your financial consent order during mediation, and there are many benefits to doing so. Your mediator can create a first draft of the consent order and take you through each of the agreement terms during your meetings. When your mediator creates the first draft of the order, your solicitor will have much less work to do. They do not need to be involved in much negotiation, and they will not be required to create a draft from scratch. Having an agreed draft created by a mediator means that parties are less likely to undermine the progress made during mediation as there is much less scope for additional negotiation and discussion.
Divorcing parties can also exercise greater control over the specific arrangements and terms when drafted as part of the process. Mediators can take parties through the specific nuances of each term drafted to make sure both parties understand and more importantly agree with what has been prepared. Should any discrepancies or issues arise, these can be raised and addressed quickly. It is far more beneficial to both parties to identify problems right away, rather than discovering matters that make the agreement inappropriate at a later stage.
Parties may make amendments to the agreed draft during the mediation process but, in most cases, any changes proposed will be minor and will not require a complete rework of the agreement. As a result, mediation can be a much more efficient route to settlement of divorce matters, and lead to a better financial consent order. Such an agreement will be truly tailored to the needs of the parties as they have been so involved at every stage.
Contact our Divorce and Family Mediation Lawyer, London Today
Mediation can give you control over the future of your family. Taking part in the mediation process and drafting a financial consent order can provide security over property, assets and ongoing financial commitments. If you are interested in creating a financial consent order through mediation, our family lawyers are here to help. Contact Lewis Nedas Law today on 020 7387 2032 or alternatively complete the online enquiry form, and we will get back to you without delay.
