How Are Assets Divided During Divorce Mediation?
Coming to the realization that it’s time to file for divorce is a major life decision that should never be taken lightly. Mentioning divorce to your spouse will open up a host of emotions, some of which will include anger and resentment. As you prepare for the divorce process, you will need to disclose all of your marital and individual assets and answer the question of how are assets divided? The marital assets will need to be divided between you and your spouse, and this can be done using divorce mediation.
How Does Divorce Mediation Work?
So, how does divorce mediation work? In a nutshell, divorce mediation can be quicker and more affordable than resolving your divorce at trial in front of a judge. Divorce mediation typically helps both parties reach a settlement on every single contested issue. Unlike a trial, mediation is kept confidential, and you control the entire process with your soon-to-be former spouse. You are allowed to have your lawyer with you for legal advice during the entire process.
Dividing Assets in Divorce
If you are concerned about how to get what you want in divorce mediation, then you will want to make sure that you head to mediation and not to a trial. You have very little control over the outcome of a trial. The judge will hear both sides, but will ultimately, make the decision for you about the division of assets. The following must be taken into consideration by a judge when dividing assets in divorce:
- How long the marriage lasted
- What each spouse brought into the marriage (property or income)
- The standard of living for both spouses created in the marriage
- The age and health of each spouse
- The income of both spouses
- The earning potential of both spouses
- Once the divorce is complete, the financial situation of each spouse
- The contributions each spouse had on the other
- What a custodial parent needs to keep the lifestyle the same for their children
When you choose to resolve your divorce through mediation, you really aren’t required to take any of the above into consideration. Those considerations are for judges presiding over divorce trials. Since you have control of how mediation will play out, it’s in your best interest to finalize the divorce using mediation. It’s a good reason why more than 95 percent of divorces are settled outside of court.
What to Expect in Divorce Mediation
When it comes to learning what to expect in divorce mediation, you need to realize that it’s all up to you and your spouse. The mediator is only present to help move you along in the process, not make decisions for you. You and your spouse will need to put a lot of your differences aside in order to reach settlements on every contested item from your marriage. Mediation actually encourages both spouses to be flexible, whereas a trial places monetary values on assets and encourages antagonism. There is no leverage sought in mediation like it is in litigation.
Filing for Divorce? Call Shapiro Mediation Today
Filing for divorce is never easy. The divorce process can be long and stressful if you and your spouse cannot come to terms with the division of assets. One way to move the process along smoothly is to engage in divorce mediation. Our mediators can assist with dividing real estate in divorce and dividing other types of property. Call the office of Shapiro Mediation Services at (339) 298-7733 today to schedule a consultation.