Ms B sought our services following the irrevocable breakdown of her marriage. In this instance our support was required to assist Ms B through the financial side of her separation due to the joint assets between her and her husband, Mr B.
We reached out to Mr B, detailing our intention to support Ms B in financial proceedings, with the invitation to work alongside BH Support towards a financial settlement agreement at an equal cost to both parties. Mr B agreed to work with us and Ms B in order to settle their financial ties to each other through a private agreement outside of the courts, while they pursued the new no-fault divorce option themselves.
Ms and Mr B jointly owned the family home, at the time only inhabited by Ms B and the children, and the pair were equal shareholders in a business. It became apparent that Ms B wished to result in sole ownership of the property and Mr B wished to result in sole ownership of the business.
We started by collating the information required for full financial disclosure to ensure all parties were aware of the financial position and needs of the other. Once both parties had completed their disclosure with a Form E and attached relevant documentation, the information was collated and exchanged, thus allowing Ms and Mr B to progress with the next steps of their financial settlement procedure. We facilitated a negotiation between the pair which allowed both parties to speak with us in private about their desires and proposals of the other. We first worked to ascertain their ideal and the less favourable outcomes and then further looked for compromise until an agreement was mutually reached.
BH Support drafted the agreement to be signed by Ms and Mr B and once this is signed, the former couple will have settled their marital finances without incurring any court costs. If desired, Ms and Mr B now have the option to lodge this with the courts as a Consent Order which we will be able to manage for them moving forward if they wish.