How to save time and money in mediation? The easiest and most sure fire way is to make sure you clearly understand what is needed during the process of disclosure, and do a bit of the photocopying and collating yourself rather than pay a solicitor over £200 per hour to do it for you.
Disclosure is a process any couple going through a divorce needs to complete. Put most simply, Disclosure is the process of taking an inventory of a couple’s entire pot of assets and liabilities. During Disclosure, each party to a divorce needs to declare all that have, and all that they owe. This includes bank accounts, properties, significant items of value and any future assets such as pensions.
The reason Disclosure must be completed is that at the end of any divorce process where assets are being split, a judge will ultimately sit down with your proposed settlement and decide whether or not (s)he will ratify it and make it legally binding. Within this, the judge will review the division of assets and liabilities that you are putting forward and see if it is something that he/she considers is fair. A major part of this determination is the question of whether both parties to this proposed settlement have agreed to it based on a full knowledge of what was available to divide. It wouldn’t be fair, for example, if one party had agreed to something without knowing that there is an additional bank account with money in it they didn’t know about. The process of Disclosure ensures that when a judge is considering your proposal for settlement they do so knowing you have both made this decision with all the information you need at your disposal.
So how do you save money during this process? First, ensure that you have all of your bank statements, stock or share info, ISA accounts and any and all other pertinent information neatly stacked in the same order as the Form E your mediator has provided for you. Then, put together a master log of the most recent balance of each and every account, along with the last four digits clearly listed on a separate piece of paper. You don’t want to be paying a mediator or a solicitor to collate paperwork that you can easily organise ahead of any meeting you may have. The hardest part of the Disclosure process has already been done by you when you gathered the information. There is no need to add additional costs and time when it can be saved by spending just a few minutes at your dining table placing things in an order that you can easily explain to your mediator.
If you would like more information about how to save time and money in mediation, contact New Landscape Mediation on 01279 211 657 for a fully confidential, no obligation discussion of your needs.