By Caroline Ford, Family Law Solicitor – Branch Austin McCormick
“If you’re facing financial remedy proceedings, you’re likely dealing with a lot of change and uncertainty. I’ve worked with many clients going through this process, and I understand how daunting it can feel. These ten practical tips are designed to help you feel more informed and better prepared, so you can move forward with greater confidence and peace of mind.”
1. Be Honest About Your Finances
One of the most important things you can do is be completely open about your financial situation. This means disclosing everything: your income, savings, property, pensions, debts, and any business interests. Trying to hide things can backfire badly, it damages trust and may lead to costs orders being made against you.
2. Get Organised Early
Start gathering your financial documents as soon as possible. That includes bank statements, payslips, mortgage details, pension valuations, and tax returns. Being prepared helps things move faster and makes you feel more in control.
3. Be Open to Negotiation
Not every case needs to go to court. Many people settle through negotiation or mediation. This can save time, money, and emotional stress. If you’re willing to compromise and keep things civil, you may be able to reach a fair agreement outside of court.
4. Think About What You Need, Not Just What You Want
The law focuses on meeting each person’s reasonable needs, especially where children are involved. So instead of focusing on what’s “fair” or who’s to blame, think practically: What housing do you need? What income do you need to live on?
5. Keep an Eye on Costs
Legal costs can add up quickly, so it’s important to keep things in proportion. Try to avoid arguments over things that won’t make a big difference to your overall financial future. A good solicitor will help you focus on what really matters.
6. Take Time with Your Financial Statement (Form E)
The Form E is a legal document where you set out all your financial details. It’s vital that this is accurate and complete. If anything looks suspicious or is missing, it could raise red flags and delay your case.
7. Use Experts When Needed
Sometimes you’ll need a professional to value a business, pension, or property. Your solicitor can help you choose the right expert. Usually, both sides agree on a single expert to keep costs down and avoid disputes.
8. Put Children First
If you have children, the court’s top priority is their wellbeing. That includes making sure they have a secure home and that both parents can support them financially. Always keep their needs at the heart of any financial decisions.
9. Be Realistic About Outcomes
Every case is different, and there are no set mathematical formulas. The court has a lot of flexibility and looks at your whole situation. Try not to compare your situation with friends or family members. Focus on getting the best fair and workable outcome for you.
10. Think About Life After the Case
This isn’t just about dividing up assets. It’s about setting yourself up for a stable financial future. Take advice on budgeting, investing, or sorting out your pension. Make sure you understand what the final agreement means in practical terms.
Need Advice or Support?
At Branch Austin McCormick, we are here to guide you through every step of the financial remedy process. Caroline Ford and all members of our Family Team have extensive experience in this area and all aspects of family law. If you’d like to speak with Caroline Ford please contact her: cf@branchaustinmccormick.com or 020 7851 0102 or 0759 759 1900. You can also contact another member of our Family Law Team.
