Divorce litigation is becoming increasingly less common because the process can be both emotionally and financially draining for divorcing spouses. It’s no surprise that more and more divorcing couples are turning to mediation to hopefully ensure their divorce proceedings run as smoothly as possible. However, there are various misconceptions about the mediation process, so some spouses worry that hiring a mediator can negatively impact their finances. Are you looking to learn the truth about mediation? Our knowledgeable law firm has all the answers you need! Continue reading to find out how you can benefit from our Union County Divorce Mediation services.
IS MEDIATION BENEFICIAL FOR FINANCES DURING A DIVORCE?
Yes, many divorcees and legal professionals agree that mediation can often be the best choice when handling finances in a divorce. This is mainly because mediators are trained both with extensive knowledge of the law but also with skills to handle particularly difficult situations. Should you choose to hire a mediator, they will defuse any tense arguments between you and your spouse and ensure the agreement is fair toward both parties. They will also be there to answer all of your questions and help you make smart decisions.
HOW CAN MEDIATION HELP ME PROTECT MY ASSETS?
- You and your spouse will have the final say on your divorce settlement
- The process will likely be less time-consuming and therefore less costly
- The mediator will ensure the settlement agreement is in the best interests of both parties
- You won’t have to worry about a biased judge deciding an agreement for you
- You will likely be under less stress so you’ll be able to make better financial decisions
- The agreement will be equitable and favorable for both parties
- You won’t have to worry about hiring a separate lawyer from your spouse
WHAT DO I NEED TO CONSIDER?
In a divorce, there are many different factors that will impact your finances. A mediator can help you to work through all of these issues. The most common considerations include:
- How marital assets, properties, debts, and joint accounts will be divided between both spouses
- The value of your separate assets and property
- Whether spousal support or alimony will need to be paid and if so, the payment amounts
- If child support will need to be paid and if so, how much the payments will be
- How any family businesses will be handled
- What happens to shared retirement plans
- How taxes will impact your finances
If you’re just beginning the divorce process and are considering mediation, you should speak with a trustworthy divorce mediator who can help you to determine your best legal options going forward. Thankfully, our highly experienced legal team is on your side! Contact Ross & Calandrillo today for an initial consultation.