Dissolving a high-asset marriage typically involves a complicated divorce process. Trying to divide property fairly often leads to lengthy and expensive court battles. Fortunately, there is an alternative worth considering – dividing marital property through divorce mediation.
The following are a few potential benefits mediation could offer you and your ex, if you are hoping to avoid lengthy, contentious litigation.
Keeps it confidential
Your marital finances are no one’s business, but traditional divorce records are open to the public. Mediation can keep sensitive financial details private – a common goal in high-asset divorces.
Increases spousal control
In mediation, you and your spouse work with a neutral mediator to reach a mutually agreeable property settlement. In a litigated divorce, the judge makes these decisions.
Reduces divorce costs
Litigation can pose significant financial burdens, especially when wealth is at stake, which can prolong things. Mediating divorce and property matters typically results in fewer expenses and may take less time than litigation.
Invites creative solutions
Unlike courtroom divorces, mediation allows you to craft a property division plan that reflects your unique circumstances and future goals. This flexibility can be invaluable when dealing with complex assets like stock options or inherited property.
Most-asked divorce mediation question: Will it work for me?
While mediation is not the perfect solution for every divorce, learning more can help you determine if it might work in your circumstances. Mediation requires both parties to discuss the property and other divorce issues openly, making a spirit of compromise essential. Another way to see if it could meet your needs is to discuss your situation with a legal professional who understands both mediation and traditional divorce in New Jersey.