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In an ideal world the financial arrangements between parties after a separation can be agreed on an amicable basis, however sometimes further assistance is needed to resolve this issue. Which can take place in the form of mediation, where the parties discuss the issues with an independent mediator who will meet the parties to see if a settlement can be agreed.
Where this is not possible it may be necessary for court proceedings to be commenced in order that the Court makes a final decision regarding the separation of assets. These are called ancillary relief proceedings. Both parties will be required to provide full financial disclosure of their assets along with their own proposal for how assets should be divided. It is possible for agreement to be reached at any stage throughout the proceedings so a final hearing is not always necessary. The Court refers to a checklist contained in section 25 of the Matrimonial Causes Act 1973 when determining how assets are split. This takes into account, for example, the length of the marriage, any children of the family, housing needs and the income of the parties to enable the Court to reach a final and fair resolution. It is preferable to have legal advice for these proceedings, and if you are financially eligible you can obtain public funding. The following links may provide useful information for you:
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