The Duty of Full and Frank Disclosure
When parties are dealing with the financial matters ancillary to a divorce both parties have a duty to give full and frank disclosure. Information about each party’s financial position should be given voluntarily and completely regardless of whether proceedings are issued or not. In the event that full and frank disclosure has not taken place the Court can not only set aside the Order that has been made but also make an Order for costs against a party who had not facilitated full and frank disclosure.
Mediation
Recent changes in the law mean that attendance at a Mediation Information and Assessment Meeting (MIAM) is compulsory prior to the issue of proceedings unless one of the limited exceptions applies. If parties fail to attend at a MIAM and if one of the exceptions to attendance does not apply then the Court has the power to direct attendance at a MIAM and to adjourn proceedings until this direction has been complied with. This will inevitably cause delay.
Matters Agreed Between the Parties
If agreement is reached between the parties then it is important to seek to make the agreement legally binding . Once agreement has been reached consent documentation is filed at Court with the relevant application and accompanying forms. In the absence of the parties a Judge will consider the application, taking into account the relevant legal principles, and decide whether an Order should be made in the terms agreed. If the matter has not come before the Court in any way (either by way of issuing proceedings or filing agreed consent documentation) then the agreement reached between the parties is merely an informal one and is not legally binding.
If you have questions about the financial aspect of a divorce then you should contact our friendly and experienced family team on 02920 470909.