Divorce typically becomes more complex as the marital estate grows. People with real property, investments and retirement savings accounts have a lot to discuss when they decide to divorce. The larger the marital estate becomes, the more difficult it may ultimately be to resolve all of the shared resources and financial obligations that the spouses have acquired during the marriage.
Spouses facing high-asset divorce might expect that litigation is all but inevitable. They may disagree about too much to reach an amicable settlement on their own. Mediation might be a way for them to settle their disagreements and move forward with an uncontested divorce.
Couples with complex resources who have enjoyed success throughout their marriage are among those who may find mediation to be particularly beneficial. How does mediation benefit couples with more assets to address?
1. By preserving their privacy
Litigated divorces require that people disclose their resources to the courts. Many people would prefer to keep information about their various assets and financial obligations out of the court system. Mediation is a confidential process that allows couples to go over complex financial records and various assets without disclosing every last detail of their finances in court.
2. By providing enhanced control
The more resources judges have to divide and the more diversified those assets are, the harder it can be for a judge to create a truly nuanced and appropriate property division settlement. Each spouse may have strong preferences about certain particular resources or terms. Mediation allows them an opportunity to prioritize the specific terms that matter the most to them, requiring that they compromise in other areas to reach a settlement.
3. By limiting expenses
If a family law judge must dedicate their time to reviewing and considering the complexities of a high-asset marital estate, the final cost of a divorce could be tens of thousands of dollars. When couples successfully settle with one another, their court costs are typically minimal.
Mediation paves the way for an agreement between spouses and an uncontested divorce filing. Mediation also allows people to retain their dignity by keeping things calm and can make it easier for those with children to cooperatively co-parent after they divorce.
Discussing divorce mediation can be a good option for people preparing for high-asset divorces. People who can explain the value of mediation may be able to convince their spouses to consider alternative dispute resolution instead of litigation.
