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10 Reasons to Choose Arbitration to Deal with Finances During Divorce

July 04, 2016  |   Posted by :   |   Blog

arbitration solicitor Thames Valley

Arbitration is one of several out-of-court alternatives of dispute resolution, allowing you to maintain a measure of control over your proceedings and avoid going to court. However, family arbitration is still a fairly recent addition to family law – Frances Lindsay became one of the first fully accredited family arbitrators in England and Wales in 2011 – previously, arbitration was most commonly used as a method for resolving property and business disputes. However, in recent years arbitration has become an effective and fair way to settle your differences more quickly, with less stress and lower cost than engaging in court proceedings.

If you’re not sure if arbitration is for you, here are 10 good reasons to consider it as a method of separation:

  1. Arbitration is flexible – you choose the time, the place, the schedule, and even the arbitrator who oversees your case. Having control over the logistics can help make things run smoother and feel less overwhelming, and ensures that you won’t need to completely re-organise your life to attend court.
  2. Arbitration can be used to deal with your entire case or a few specific issues. Perhaps you’re struggling to decide how to deal with particular assets but are happy to negotiate the rest of your settlement – in this case, arbitration could be an efficient and cost-effective way to resolve individual issues without having to take your case to court.
  3. Arbitration is a good choice for any couple who feel unable to work together to come to an agreement about the division of finances in divorce but would still rather stay out of court. Similar to court proceedings, arbitration involves an independent adjudicator who makes a decision on your behalf based on your assets and circumstances. However, unlike the often daunting prospect of going to court, the arbitration process provides you with more privacy, flexibility, and less animosity.
  4. Arbitration is a legally binding agreement and protects your interests after separation. An arbitrator’s decision is final, and can effectively resolve relationship disputes without the need to go to court.
  5. Arbitration is private. Unlike court proceedings, with arbitration, your business remains your business. The only people involved will be you, your ex, your arbitrator, and any solicitors you choose to appoint on your behalf.
  6. Arbitration is generally faster than going to court. Plus, with the added benefit of being able to choose the schedule, it is much more convenient and can be arranged around your work and daily life.
  7. Arbitration is also usually cheaper than court proceedings! By clearly setting out what you want to resolve during the process, and managing the duration in a practical way, you can avoid costly delays and extensions.
  8. Arbitration can be arranged with clear guidance on legal fees for each stage of the process, allowing you to make a realistic budget and keep track of costs.
  9. Arbitration can be entered into with or without your solicitor – it’s up to you – though it is always advisable to consult a lawyer before proceeding with any legal action.
  10. Arbitrators are experts in family law and are well-situated to make an informed decision on behalf of you and your ex. For example, family arbitrator Frances Lindsay is also a family law solicitor and mediator with a wealth of knowledge of the unique requirements of separating couples.

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Arbitration is an effective alternative to court proceedings and can be used to resolve relationship disputes and financial issues. If you think arbitration might be the right route to your separation, get in touch with Frances Lindsay & Co’s team of friendly family solicitors and speak with a trained arbitrator in the Thames Valley. We are experts in family law and offer a variety of out-of-court options for separating couples, tailoring our services every step of the way to suit your individual circumstances. Visit www.franceslindsay.co.uk for more information.

 

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