In the third of our daily blogs for Good Divorce Week this week, and as part of our ‘5 steps to a good divorce’, Katie Machin reviews the funding options and costs of a separation…
WEDNESDAY | Understand The Funding Options And Costs
It is important to understand from the outset as to the likely costs of electing to resolve matters using an alternative dispute resolution processes and the costs of how a contested process could bear out in the event that you reach a negotiated agreement at an early stage.
Court proceedings tend to increase the costs payable by parties significantly and should usually be considered as a last resort. In most, if not all, cases, a key consideration for divorcing parties should be the proportionality of the position that they want to adopt. Usually, the only way for parties to minimise both their fees and the length of the process is by being pragmatic and being prepared to compromise. To do this, parties need to have a clear understanding of the costs associated with them litigating on the disputed issues, as well as the risk.
There are many circumstances where a party to a marriage cannot access funding for legal services, whereas the other party can. In those circumstances, provided that the other party’s financial circumstances are such that they could meet payment of the fees, they can be directed to pay the fees by the court, if they will not pay them voluntarily.
A solicitor can explore with a party, all the funding options available and should provide regular costs reviews.
There are specialist funders who will offer agreements to fund divorce litigation specifically.
Click here to read one of Silk Family Law’s articles relating to financial support for separation…