Below are a list of some legal terms relating to financial matters explained:
Financial Remedy/Ancillary Relief – financial and property issues
Statutory MIAM – a document signed by a mediator prior to making a financial application to court.
Counsel – a barrister – a person who represents you in court.
Periodical Payments – maintenance for a spouse or a child.
Term Order – maintenance for a specified period of time.
Lump sum – a cash sum.
Property Adjustment Order – a court order adjusting the shares of ownership of a property.
Clean break – a bar to any future financial claims between the parties.
Form E – a document setting out your financial circumstances.
Form A – an application to court that begins the process of making a financial claim.
Applicant – the person who issues the financial application.
Respondent – the person who receives the financial application.
FDA – First Directions Appointment at which the judge seeks to clarify what the issues are and direct what needs to be done before the FDR or final hearing.
FDR – Financial Dispute Resolution appointment at which the judge will encourage discussion and negotiation to see if an agreement can be reached.
Consent Order – a court order made with the agreement of the parties which resolves financial issues.
Without Prejudice – offer to settle whether in writing or verbal that cannot be referred to at a final hearing but can be referred to at an FDR. Also known as having an “off the record” discussion.