Can Mediation Help Protect My Finances In a Divorce?

mediation and finances

When you are going through a divorce, you probably want to do everything that you can to protect your assets and ensure a fair outcome when all of your marital property is divided. Sometimes going through the courts is not the best option for you. A Tazewell County marital property division lawyer can advise you about alternative dispute resolution methods, like mediation. This could make it easier to protect your finances and fight for a fair deal.

How Does Mediation Help Protect My Finances?

Mediation offers a few key advantages over traditional divorce litigation. When you go through mediation, the process can often be:

Less expensive: Court fees can add up. Mediation costs less and fewer sessions could be needed to settle the disputes between you and your spouse.

Less contentious: Going to court can often be stressful. The mediation process tries to lower the temperature, and that can make it easier for both parties to communicate effectively and come to a deal on finances and other important matters.

More controlled: When you go to court and let a judge decide what property goes where, you have to listen. You cannot change this legally binding decision. In mediation, you have the chance to really take the time to figure out a fair arrangement for how the marital property is split up and how other matters, like alimony, are approached.

Your mediator is unbiased and they are there to try and ensure the best possible outcome for everyone involved.

What Can Be Settled Through Mediation?

The mediation process can be used to negotiate nearly every aspect of a divorce agreement. You and your spouse can discuss:

  • The division of marital property
  • What happens to shared retirement plans
  • A need for alimony
  • How to handle any family business
  • How much child support will be paid
  • What happens to shared debts
  • Any tax implications from dividing up assets

This process can help you and your spouse really think things through and address all of the financial issues in your divorce. It can also prevent you from making rash decisions that could have adverse consequences on your finances later.

Do I Need an Attorney to Protect My Finances?

You may not be going to court, but it can still be a good idea to have an attorney on your side. Your divorce lawyer can advise you on any deals made and help you look out for your best interests. Even though mediation can be less contentious than court, you still want to make sure that you are not taken advantage of.

Contact Our Family Lawyers

When you are going through a divorce, it can be helpful to have an experienced family lawyer who can advocate for you. Contact Butler, Giraudo & Meister, P.C. to set up a consultation with our team so that we can tell you more about what our firm can do for you.

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