In the midst of the emotional rollercoaster that often accompanies divorce, navigating the path to fair financial division can quickly become a point of contention. In an effort to minimize potential hurdles and facilitate a mutually beneficial financial split, there are several ways that divorce mediation can alleviate the stress and uncertainty surrounding asset division and divorce.
Before delving into the specific financial considerations we address, it’s important to understand how divorce mediation differs from traditional divorce litigation.
In the majority of traditional divorce litigation cases, each individual works with a private attorney to build a case against their spouse. As a result, this traditional litigation process often leads to prolonged conflict, escalating legal expenses, and additional emotional distress. Additionally, the final divorce outcomes can vary dramatically. Ultimately, the judge overseeing your cases will have the final say, leading to uncertainty and potentially undesirable divorce outcomes.
Alternatively, with the guidance of a neutral divorce mediator, couples collaborate to organize a mutually agreeable divorce settlement. As a result, divorce mediation is a better option for most situations because:
- Couples have greater control over the outcomes
- Divorce mediation results in faster resolutions
- Couples can expect to save thousands of dollars
- Divorce mediation reduces stress and emotional turmoil
- Couples do not need to visit the courts or hire private attorneys
As long as you and your spouse are able and willing to discuss and agree to each other’s terms, divorce mediation becomes the obvious choice. If you and your spouse are considering divorce mediation, our supportive divorce mediators will help you navigate every detail in depth. Here are some of the financial topics we address during the collaborative mediation sessions.
Organized Asset Division
We help our clients identify and organize all related financials to establish a transparent basis for equitable financial separation. For instance, we will help you determine which assets are shared marital assets and which assets are private property. Examples of shared assets might include real estate, retirement accounts, and shared vehicles.
After identifying which assets are on the table for division, we will guide you through the discussions to help you arrange a fair split. During these discussions, we may address topics such as child support, alimony requirements, and other essential financial subjects to ensure that your financial agreement is both legal and acceptable for everyone involved.
Consideration for Ongoing Expenses
In many mediation cases, future financial planning is an integral aspect of the process. When determining a fair financial outcome that will meet the needs of everyone involved, it’s essential to consider details such as each individual’s earning potential, personal health, and other factors that influence future financial stability. For example, if you or your spouse do not have a steady income, it may be necessary to receive or provide additional financial support following the divorce. Similar considerations may be necessary for post-divorce changes such as housing payments or childcare expenses.
Of course, these variables and the amount of spousal/child support provided is highly dependent on your family’s unique situation. Since there are many considerations and hard-to-anticipate financial needs, our constructive mediators work to simplify the process while guiding you towards amicable and fact-based decisions that promote financial stability for everyone involved.
Education & Documentation Submission
We empower our clients with the facts and resources they need to make informed and confident financial decisions regarding their divorce. It’s important that you understand exactly what you are agreeing to; our clarifying guidance takes the guesswork out of the process.
After you and your spouse have signed the agreement, we manage all submission details on your behalf. We handle all court correspondence and provide constant updates regarding the approval process. Once the judge signs off on the divorce agreement, your divorce will be legally binding.
To learn more about our unbiased and affordable guidance, get in touch with our experts and simplify every step of the process today.