Tips on Preparing for a Financial Dispute Resolution Hearing
Instructing a specialist Family Law Solicitor and preparing for your financial dispute resolution hearing can make the difference between reaching a financial settlement at the FDR hearing and the FDR being unsuccessful.
At OTS Solicitors, our expert Divorce Financial Settlement Solicitors in London can guide you through the court process to obtain a financial court order and represent you at your financial dispute resolution hearing.
Contact OTS Solicitors Today for Expert Family Law and Divorce Legal Advice.
The financial dispute resolution hearing
The financial dispute resolution (FDR) hearing is a court proceeding in which an FDR judge assists a husband and wife in reaching a financial settlement. If a settlement is reached, the court will issue a binding financial order that concludes the financial application.
Settling a disputed financial application at an FDR hearing carries many benefits, including saving you time, stress and money.
Tips on Preparing for a Financial Dispute Resolution Hearing
Here are our Financial Settlement Solicitors' top tips for preparing for an FDR hearing:
- If you haven’t instructed lawyers from the outset, instruct a Divorce Lawyer in advance of the FDR hearing. Make sure you give them plenty of time to check your spouse’s financial disclosure, ask questions and talk to you about realistic options to achieve a financial settlement at the FDR hearing.
- If you think there is a vital missing bit of financial information, tell your solicitor ASAP. They can assess its relevance and advise you on how best to obtain it.
- Check you can attend the FDR hearing. The court will typically only change the hearing date if you make an application and there is a good reason to do so—for example, ill health or an operation, with medical evidence. Holiday bookings or sudden work commitments are usually insufficient reasons to change the FDR date.
- If you want to bring a family member or friend, think carefully about who joins you. They will not be allowed into the courtroom, but they can attend the conference with your Family Law Solicitors or barrister, provided you want them there. Your financial and personal affairs will be discussed, so you want someone close to you who is trustworthy and can support you rather than impose their views on your financial settlement.
- Familiarise yourself with where the hearing will take place and how you will get there. Allow plenty of time to get through court security procedures.
- If you have young children, arrange for child care or after-school collection. While your FDR hearing may be scheduled for an hour, the judge may allow additional time to negotiate and to finalise the wording of the financial consent order.
- Reality-test your proposals and your ex-spouse’s offer. For example, if you stay in the family home, can you afford to pay the household bills and go on holiday, or will it be a struggle to pay the mortgage without allowing for unexpected extras? If you decide to downsize, what are the hidden costs, such as stamp duty and removal costs? If you downsize, will your outgoings increase if you have a longer commute to work? How will you fund your retirement if you don’t obtain a share of your ex-spouse’s pension?
- Remember to ask your Family Lawyer questions before the FDR hearing so you have answers and can determine what you are prepared to settle for.
- If you need information from third parties, try to get it before the FDR hearing. For example, if you are waiting for confirmation of a mortgage offer, clarification of mortgage interest rates, eligibility for tax credits, or an anticipated increase in nursery fees. Get the third party to write the information down so it can be disclosed before the FDR hearing.
- Come prepared to negotiate at the FDR. While you won't need to give evidence, you must tell your Divorce Solicitor what you think of the judge’s indication and your ex-spouse’s proposals.
Reaching a financial agreement at the financial dispute resolution hearing
If you reach an agreement at the financial dispute resolution hearing, the judge will either:
- Make a financial consent order.
- Record the terms of the agreement on the basis that the Family Law Solicitors will then submit a financial court order in accordance with the terms.
If a financial settlement is reached at the FDR, you cannot change your mind later. That’s why it is best that you have a family solicitor with you at the FDR hearing. The lawyer will protect your interests, because whilst you will want to reach a financial settlement, it should be one that you are comfortable with and that you understand the short- and long-term consequences.
Court orders when you cannot agree to a financial settlement at the FDR hearing
If you cannot reach an agreement at the FDR hearing, the judge will give directions to ensure the financial application is ready for a final hearing. The judge could order:
- Updated or additional asset valuations.
- Statements by you or your spouse.
The judge at the FDR will ensure the final hearing is listed before a different judge. That means the judge at the final hearing doesn’t have preconceived views.
After the FDR hearing, your solicitors will continue to negotiate with your spouse’s lawyers and try to negotiate a financial settlement to avoid the costs and risks of going to a final hearing.
Reaching a divorce settlement at the financial dispute resolution hearing
Most Family Lawyers say it is best to attend a financial dispute resolution hearing with the hope of reaching a divorce settlement, but not at any price. That’s because a judge’s indication isn’t necessarily what a judge at a final hearing would order. You could do better or worse.
That’s why it is essential to have legal representation by a specialist Divorce Financial Settlement Solicitor at the FDR hearing to give you the best chance of settling the financial application on terms acceptable to you without the stress and economic implications of a contested final hearing.
Contact our London Family Law Solicitors Today for Expert Family Law Legal Advice.
Appointments are available at our office in London and by phone or online consultation.
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