It may be the case that your divorce will be dealing with assets that are considerable and complex. Although many believe divorce mediation won’t be beneficial in such cases, this option can actually facilitate faster and less costly settlements of high-asset divorces.
Traditional divorce litigation pits two legal teams against each other in a contest to secure as many assets as possible for their respective client. Such battles consume both time and finances, leaving less for both parties after the settlement agreement.
For an entrepreneur or professional whose income is well above average, divorce litigation will typically result in the spouse’s attorney seeking to carve up his or her assets without considering what would be fair for the couple overall.
In contrast, divorce mediations are overseen by legal professionals who help couples attain an equitable division of assets and liabilities. They also assist those divorcing with children to reach a fair compromise that determines child support and custody.
Skilled mediators bring valuable years of experience and knowledge in the valuation of complex assets. They also endeavor to negotiate and achieve a fair divorce settlement agreement by securing compromises from both parties.
Divorces Don’t Have to Be Wars
When substantial assets in the form of cash, real estate, and equity are at stake in a divorce, insanity tends to strike spouses and even other affected parties like children and business partners. Unfortunately, there is no avoiding the reality that divorces always cost money.
A divorcing person with considerable assets will probably be forced by the court to relinquish at least a portion. It is a stark truth that marriage is a business relationship, and divorce provides the means for its legal dissolution.
If spouses can resist emotions of anger and revenge and choose divorce mediation, rather than litigation, they would avoid the costly battles that devour time, money, and remaining goodwill. Divorce will not become a war for spouses who enter the process with mutual respect and the spirit of compromise.
Part 2 will further discuss compromise and helpful tips for compromising during divorce mediation.
Professional Guidance for Divorcing Individuals
John Faggio, CPA, CFP®, CDFA™, is a Financial Divorce Specialist. Faggio Financial helps divorcing individuals reach an equitable financial settlement in a professional, cost-effective, and expedient manner.
Faggio Financial does this by providing clients with financial clarity to a process that is inherently burdened with emotional issues and the stressors associated with the legal environment in which it exists. Call (410) 988-7333 for professional guidance today.