Mediation is a way for spouses to settle their disputes as they prepare for divorce. As long as they agree on terms, they can sign a document outlining those terms. They can then use those terms as they pursue an uncontested divorce.
Some couples must settle child custody matters in mediation. Others have to address financial matters related to property division and post-divorce support. Those preparing for financial negotiations typically benefit from careful preparation.
The importance of a financial review
Spouses generally need to know what assets are part of the marital estate and what they are worth to negotiate terms to divide their property fairly. They may need to check for hidden assets and validate the fair market value of certain resources, such as businesses and real property.
In some cases, there may also be questions about marital debts, especially if there are allegations of dissipation. Spouses may be able to protect certain assets or exclude specific debts from the pool of marital property if they review all financial disclosures thoroughly before mediation occurs.
People may need to go over financial records at length before mediation sessions with their lawyers. An attorney can help identify warning signs of financial misconduct and give their client a better idea of what they can reasonably request during negotiations. Thorough preparation can limit the number of sessions necessary to effectively settle financial disputes and can help people recognize truly unfair offers.
Divorce mediation can be a peaceful, effective means of settling property division matters amicably during an uncontested divorce. However, spouses must still be proactive about protecting themselves. Reviewing financial records and setting goals in advance with a skilled legal team’s guidance can be beneficial for those hoping to mediate divorce matters and pursue uncontested filings.