Financial Mediation Specialists Cheltenham
We can help you reach a settlement in relation to your finances including property, pensions, assets and any debts. Whether you are married and want to legally separate, or partners with shared finances, Finance Mediation with Children 1st Mediation will help you achieve this.
We deliver Financial Mediation in Cheltenham and Gloucester.
Financial Mediation
Divorce mediation / separation mediation
Getting a divorce or separating through Mediation offers a positive opportunity to resolve things amicably. Mediation enables both of you to sit down with a neutral third party in order to resolve your issues.
Looking at the big picture
Our Mediators can help you to explore ways in which to unravel the financial connection between you, whilst providing an opportunity to look at the full financial information.
Working out the details
We can help you to decide how to best to settle any debts, deal with outstanding bills, consider your current or short term housing needs, as well as long term planning for the future.
Finding a way forward
We'll help you explore different options together, test the reality of your proposals, and assist you in trying to find a way forward that works for everyone.
What is Financial / Divorce Mediation?
Financial Mediation Services Can Help You Both
Looking at your current financial situation
Identify all of your assets and liabilities
Discuss what needs dealing with immediately so that you avoid getting into further debt
Explore in detail the different options each of you put forward with regard to a settlement
Consider how the suggested proposals will work for each of you individually and, if applicable, how it will best ensure your children’s futures
Arrive at an agreement that the two of you feel is fair, and is within the parameters of the law, so it can be made legally binding
The Mediation Process
1. Get in touch
2. Meet you both separately / MIAM
The Mediation Information and Assessment Meeting, often referred to as a MIAM, is the gateway to mediation. A MIAM must be conducted by a mediator who is accredited by the Family Mediation Council (FMC).
The mediator will arrange to see you both separately for the initial information meeting to find out how best to help in your situation. If both parties are willing to try mediation the mediator will then arrange the first mediation meeting.
Mediators are now required to consider meeting with the children directly to ensure their views are included in the mediation. This can only happen when both parents consent.
It is something that you must attend, except in some rare cases, before you can consider making an application to family Court in relation to any family matters.
3. Joint mediation meeting(s)
Once you have both attended your initial MIAM meeting the mediator will make arrangements for you both to attend a joint mediation session. This will be at a time and date convenient to everyone involved.
Most of our clients now prefer the convenience of having their mediation meetings online, typically by Zoom. There are still some options for face-to-face mediation where the need arises. Whether you are meeting online of face to face the mediator will have discussed with you both how best to set things up and is some cases this will mean that you and your ex partner maybe in different zooms for all or part of the joint meeting, this is sometimes called ‘shuttle mediation’.
The mediator will help you to hear from one another about the key issues and then explore the options with you both. The mediator will assist you in checking how practical your proposals are, guiding you to reach acceptable and workable solutions that meet your children’s needs. Any outcome you reach is entirely under your control.
4. Review and build on arrangements
Most separated parents benefit from taking a stepping stone approach to building or rebuilding the arrangements for children and on average most parents need between 1 and 2 mediation sessions over time to fully resolve things in cases involving child arrangements. Financial issues typically take 2 to 3 sessions. This may be over a period of time and is often depending on your life events, as well as any plans that you make in session one and the time needed to put them into practice and test things out.
We can then meet again and build upon the progress from session 1 and then address any other issues to enable you both to move forward.
5. Summary of proposals or MOU
Any solutions reached between you in the mediation can be written up into a letter summarising the proposals. In financial cases we can prepare a Memorandum of Understanding (MOU) and an open financial statement (sometimes called an OFS).
Financial Mediation can save you time and money
In finance Family Mediation a full disclosure of finances is very important if you want to get a settlement to enable you to get divorced. We encourage you to look at options for how you might share any savings and assets that you may have between you in a way that the two of you feel is fair.
It is estimated that the cost of using solicitors and going to court on issues around finances is between £4000 and £12,000 each and takes an average 15 months compared with an average of 3 months in Mediation.
What happens after mediation?
For Children only cases the mediator will upon request provide a summary letter detailing any agreements reached. If you require a parenting plan drafted this will be discussed with you at the mediation appointment.
Following the last financial cases the Mediator will produce an open financial statement that will be used as your financial disclosure in any divorce proceedings. This document is open and will need to be signed by each of you. The Mediator will also draft a Memorandum of Understanding or Summary letter depending on your needs, setting out any proposals/agreements reached during the mediation
If we produce a Summary letter, Open Financial Statement, Outcome Statement, Summary letter or Memorandum of Understanding at the end of a session or upon conclusion of your mediation the is a cost. Each document is charged at £120 per person (inc VAT).
"Our mediator Mabel was so helpful and knowledgeable really helped us with our financial agreement made the process so much easier! Thank you."
Mark
Child Arrangements
Financial Mediation Cheltenham
Most families are choosing to mediate online now, usually on Zoom. However, we do occasionally do face-to-face mediation when the need arises. We are regularly dealing with clients from Cheltenham and Gloucester and surrounding areas including Tewkesbury, Cirencester, Stroud and Evesham.
Over 90% of our mediation’s lead to an outcome that both people are positive about, which makes us one of the most successful mediation services in England. This means that both of you have found a settlement that you can both live with, which avoids the need for court intervention, which no one wants. All of our mediators are accredited with the Ministry of Justice to undertake Family Mediation in both financial and Children’s issues so you can be confident your in safe hands.
We support clients in Cheltenham and across Gloucestershire.