Finances Fixed Fees
The Family Department at Kingsley David is dedicated to family law. Divorce, the dissolution of a civil partnership or separation can often cause conflict. We recognise that each family is different and our specialist family department can guide you through and help ensure the best possible outcome for you and your family. Wherever possible, we seek to reduce the stresses, strains and financial difficulties that can arise when a relationship breaks down.
We offer a fixed fee service which may be of benefit to you to help you to budget at this difficult time. With fixed fees, you know in advance exactly what costs you will incur. We will discuss the options available to you at the time of your initial appointment with us to decide if the fixed fee is best for you.
Finances (Agreement reached) – Fixed Fee £960 plus VAT
These fees cover uncontested finances i.e you both agree as to how your assets are to be shared between you.
As members of Resolution, we will always try and enable you and your spouse to reach an agreement with regard to any financial issues rather than engaging in potentially protracted and costly court proceedings.
If an agreement has been reached between the two of you, in order to ensure that the agreement is legally binding, it has to be drawn up as a Consent Order and filed with the Court to be approved by a judge.
What work is covered?
- Initial meeting with you to receive your instructions, consider your supporting documentation and discuss with you appropriate drafting of the Agreement.
- Prepare the initial documentation which will eventually be required by the court.
- Obtain approval of the documentation from you and your spouse/partner.
- Obtain the court's approval and sealing of the final agreed order.
- We will draft the pension sharing annex if required.
What work is not covered?
- The fixed fee arrangement is limited to total assets of less than £1,000,000. Beyond this limit our fees will revert to our standard charging rates set out in our Terms & Conditions of Business.
- Court fees.
- If correspondence and telephone calls become protracted, our fees will revert to our standard charging rates set out in our Terms & Conditions of Business. We will, of course, discuss this with you should it become necessary.
- Service of the proposed Order upon the pension providers and mortgagees.
There will be a Court fee of £50.00 payable to the Court when lodging your Application for the Order to be approved and sealed by a Judge.
Although the above fees relate to the vast majority of cases, in the event that your case is unusually complex or the negotiations involve more than ten hours work at that time we will continue the matter based on our hourly rate once we have had the opportunity of reviewing your case and discussing it with you.
Finances (Agreement has not been reached) – Fixed Fee - See breakdown of fees below
If you are unable to reach agreement with regard to your finances through the fixed fee service, it may become necessary for you to issue an application to the Court for a financial order. The Court will put in place a timetable and framework to address various matters. Prior to the first Court hearing, financial statements will be completed by both of you. These are known as Form E Financial Statements. These provide full details of your financial interests. You and your spouse exchange Forms E by a given date set by the court and you will have the opportunity to put in writing any questions (in the form of a questionnaire) that may arise from the financial statement. You will each have the opportunity to address these questions. The court will consider any questions raised at the first hearing, “First Directions Appointment” and make an order as to which questions should be answered.
If matters cannot be resolved at this stage, the matter will be listed by the Court for an FDR, “Financial Dispute Resolution”, hearing. The main purpose of this hearing is for you to negotiate an agreed settlement. If necessary, the judge will provide an indication as to what he/she thinks is a fair outcome. You do not have to agree with this and the judge does not have to make a Final Order at this stage. If you are still unable to reach a settlement, the case will be listed for a Final Hearing. At the Final Hearing, the judge will consider all the evidence before him/her and listen to what you both have to say. The judge should then be in a position to make a judgment and will make a Final Order. However, at any stage of the proceedings, if you are able to reach agreement with your spouse, then a Consent Order can be prepared by us and filed with the Court for the approval of the judge. Once the judge has approved the order, Court proceedings will come to an end.
As this is a three stage process, we offer a fixed fee for each stage as follows:
1. From initial advice up to and including First Directions Appointment - £3,000 plus VAT = £3,600
What work is covered:
- Taking detailed instructions from you
- Preparing application for a Financial Order
- Obtaining Financial disclosure from you and your spouse (including Form E, questionnaires and replies to questionnaires)
- Representation at First Appointment
What work is not covered:
- If the First Appointment converts to a Financial Dispute Resolution hearing. Our hourly rate will apply from the time that the FDR commences;
- Instruction of an expert
2. From First Directions Appointment to Financial Dispute Resolution: an additional £2,000 plus VAT = £2,400
What work is covered in addition to Step 1 above:
- From the First Appointment up to FDR including ongoing negotiations;
- Instruction of experts; however, the expert’s fees are payable by you;
- We would advise instructing counsel (a barrister) to represent you at the Financial Dispute Resolution Hearing. The fixed fee would include preparing Brief to Counsel. An estimate of Counsel’s fees would be obtained before instructing them.
Work not covered:
- Schedule of deficiencies;
- Instruction of an expert and his/her fee.
3. From Financial Dispute Resolution to Final Hearing: an additional £3,000 plus VAT = £3,600
What work is covered in addition to Steps 1 and 2 above:
- Ongoing negotiations;
- Preparation for a Final Hearing;
- We may advise instructing counsel (a barrister) to represent you at the Financial Dispute Resolution Hearing. The fixed fee would include preparing Brief to Counsel. The fee for a barrister at a Final Hearing will very much depend on the amount of work involved and it is therefore difficult to give an estimate of counsel’s fees for a Final Hearing. We would obtain an estimate in any event before any court hearing.
Please contact us to make an appointment and we can discuss all your options with you.