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FINANCIAL DIVISION OF FAMILY ASSETS FEES

It is always difficult to estimate what costs are liable to be incurred in negotiating and finalising the division of financial assets between you and your spouse. Much will depend on the manner in which the matter proceeds and if an agreement is reached quickly, then costs can be kept to a minimum.

Our typical ranges of fees for each stage of the process are laid out below.

Description

Fee Basis

Fee Range

Voluntary Disclosure and Negotiation

Where an agreement can be converted into a Consent Order.

Time spent basis

£4,000 (plus £800 VAT) to £6,000 (plus £1200 VAT) (plus Consent Order court fee of £60)

Contested Proceedings First Stage

Preparing the Financial Disclosure Statement and attending First Appointment hearing

Time spent basis

In addition to the above, £4,000 (plus £800 VAT) to £8,000 (plus £1,600 VAT) (plus court fee of £279, and Mediation Information & Assessment Meeting attendance fee of £100 plus £20 VAT)

Contested Proceedings Second Stage

Responding to questionnaires and attending Financial Dispute Resolution Hearing

Time spent basis

In addition to the above, £15,000 (plus £3,000 VAT) to £20,000 (plus £4,000 VAT).
Furthermore, we may instruct a barrister to represent you where fees will be in the region of £3,000 (plus £600 VAT) to £5,000 (plus £1,000 VAT).

Contested Proceedings Third Stage

Preparing all steps up to and including Final Hearing

Time spent basis

In addition to the above £20,000 (plus £4,000 VAT) to £35,000 (plus £7,000 VAT), there would additionally be Barrister’s fees in the region of £5,000 (plus £1,000 VAT) to £8,000 (plus £1,600 VAT) per day.

 

In our experience, most cases settle before the final stage, and the level of fees depends upon factors such as the level of co-operation from the other party and the type and value of the assets involved.

There can be further disbursements such as valuation fees or Tax/Pension advice.

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