Mediation

[John145]

We have completed our mediation and have agreed on the terms, a memorandum of understanding has been submitted by my soon to be ex wife for drafting to her solicitors. I have since learnt and I am waiting for confirmation that my ex has not disclosed certain monies. What are the consequences and how should I proceed. The amount in question is not a great deal around £30k but its the principle. Many Thanks.

[Peridot]

Hi John145,

So following mediation you have managed to reach an agreement on division of the finances between you. In order to have the draft consent order approved it will be necessary for each of you to complete a financial disclosure form that goes to the Court with the draft order and application for approval by the Court.

How does the £30k affect the settlement? This will of course depend on what finances are available to you both. If you questioned the sum and the fact this did not factor into discussions at mediation what is the likely outcome? Would your agreement fail and require full re-negotiation maybe further mediation? Would it be necessary for the matter to be decided by the Court if further agreement is unlikely between you?

Although galling you need to consider the cost of having the Court deal with the finances. Unfortunately once you get into the realms of Court hearing the costs can rack up very quickly and the £30k may quickly become immaterial.

Is this something you could discuss and amend one of the settlement figures to adjust for this sum?

Sorry not black and white I'm afraid there are a lot of factors to consider not least the amount the Court and lawyers could earn pursuing the division of this additional sum if it can't be agreed between you. If, prior to finding out about this sum you were content with the agreement reached it may be worth considering letting it go? I can appreciate how frustrating it is having thought you'd reached agreement but sometimes it can be more beneficial to drop principles when looking at the bigger picture to enable you both to move on. I suppose it is whether you can afford to drop the principle which will probably depend on what each of your finances are, what circumstances you are in, whether you have children, your accommodation needs and each of your work opportunities.