The parties sought assistance in resolving the financial consequences of their separation. The Husband was self employed but the business had suffered as a result of the marriage ending. The Wife had not worked for some years. The Wife had never managed the domestic finances and needed help in understanding the disclosure being presented to her. There was a family home with a net equity of c£186,000, a small amount of savings and the Husband had a large pension.
The Wife required ongoing spousal maintenance in order to meet her income needs. Through mediation we discussed with the parties their various proposals and consequently reached an agreement where the Wife received capitalised maintenance, the house was sold and the proceeds divided to provide the Wife with a slightly higher amount of capital which was off-set against the Husband’s pension.
The parties received legal and financial advice alongside the mediation process. We recorded their agreement in a Memorandum of Understanding for them to present to their lawyers to prepare an Order. By reaching agreement through mediation they saved significant costs and were both able to stay on the housing ladder.