Asset Division and Mediation: What You Need to Know
When you are contemplating or going through a divorce, you need to understand the marital asset division process. Leaving your assets at the mercy of a judge in litigation is a risky prospect that may leave you and your previous partner unsatisfied with the results. One of the best approaches to resolving contentious property issues and dividing real estate favorably in divorce is mediation. Let’s examine divorce mediation to describe what it is, how it works, and why it is a better solution to asset division than traditional court proceedings.
How Does Divorce Mediation Work?
If your marital property involves substantial or complex assets, such as the family house, jewelry, real estate, business assets, stocks and bonds, overseas accounts, or significant retirement funds, you can choose the path of mediation to arrive at a mutually agreeable property division. Mediation will expedite the divorce process and avoid contentious divorce litigation regarding asset division, where both you and your ex-spouse will have little control over the outcome. An experienced mediator, who acts as a neutral third party, will help you and your former spouse communicate and focus on finding positive solutions.
What to Expect in Divorce Mediation?
The mediator will help both parties divide their marital assets in a way that is economical, productive, and respectful. They will encourage each person to focus on solutions of mutual benefit rather than getting entangled in winning, losing, or causing hurt to the other party. You should be clear about how to get what you want in divorce mediation.
If you are not interested in carrying the fight to the bitter end and
instead want to focus on rebuilding your life and securing your financial future, mediation is the right way to resolve property division issues. Furthermore, if you have children, it becomes particularly important to preserve relationships because the court will protect the parenting rights of both parties. Therefore, you and your former spouse will be dealing with each other in the long run, even after your divorce.
Unlike the court system in Massachusetts, mediation also preserves confidentiality to a great extent.
This discretion can be useful for the sake of your children, as well as in situations where you and your ex-spouse possess marital business assets that require division. You both may desire to keep sensitive business information away from public access.
Successful Mediation Requires Preparation
The best way to achieve the most from your mediation session regarding asset division is to prepare the necessary documentation beforehand. You need to consult with a knowledgeable mediation lawyer to organize your documentation. Relevant documents include your last five years of tax records, appraisals of significant assets, copies of bank statements, and a list of all physical assets, such as your car, jewelry, and household furnishings, along with their values. You may also include the value of your life insurance policy, health insurance policy, pension, 401(k), and any other retirement accounts.
Long-Term Benefits of Asset Division Through Mediation
The mediation process allows and encourages both parties to craft an asset division strategy according to their needs and preferences. As a result, each party is more likely to receive a share of their most cherished pieces of marital property for the future. Mediation relieves a lot of the stress associated with the division process to create minimal negativity and diminish emotional scars after divorce.
Contact a Skilled Mediation Attorney for Your Divorce Mediation
If you are facing divorce mediation, then you need to hire an experienced and professional family mediation attorney to represent your interests. Anna Shapiro, Esq., and her team of legal experts at Shapiro Mediation can help you secure the outcome you desire through mediation. Don’t allow a judge to divide your assets when you can proactively split them with your partner through a mediation agreement. Call us today at (339) 298-7733 or contact us online to schedule a free consultation with one of our mediators at our Massachusetts or South Florida office.