How Does Divorce Mediation Handle Asset Division?
You don’t have to settle every argument in court. If you are getting a divorce, litigation can be time-consuming and expensive. Sometimes, divorce mediation is a better way to handle things. One matter that you might want to address through mediation is asset division. It’s not always going to be an easy process, but our divorce mediation attorneys near you in Morristown are ready to guide you and your spouse through it.
Can Mediation Be a Good Way to Handle Asset Division?
If you and your spouse come into these sessions with a good attitude, mediation can be a great way to handle asset division. It can be tough to put aside all of the issues you have with your soon-to-be ex, but if you can do that and approach these sessions with maturity, you can get a lot done.
Of course, you are not the only people involved in these meetings. The mediator is a neutral third party who is crucial to the process. Their goal is to foster conversation and help you come to a mutual understanding. After a few sessions, you should be able to decide on a deal that works for both of you, even if you both didn’t get exactly what you wanted.
When you and your spouse enter mediation, you are staying in control. Nothing is legally binding until a Memorandum of Understanding is signed at the end. If you go to court, you are leaving some big decisions in the hands of a judge. You could end up with a deal that neither of you are happy with. An asset division agreement reached through mediation might seem more fair.
What Kinds of Assets Can Be Divided Up During These Sessions?
All types of assets can be split up in mediation. Your sessions can address things like:
- The family home and other shared real estate assets
- Joint bank accounts and retirement accounts
- Expensive belongings, like cars, jewelry, and electronics
- Life insurance policies
- Business assets
It can be tough to let go of any of your marital property, but at least you can try to maintain more control over the asset division process when you opt for mediation.
Are There Other Reasons to Consider Mediation for Asset Division?
Mediation can also be preferable because it tends to be less expensive than litigation. Plus, family court dockets can fill up quickly. You could end up waiting and waiting for your day in court, stressing out about the process the entire time. It can be easier to schedule mediation sessions.
The key is the collaborative environment though. In a court, divorcing couples are basically at each other’s throats. You have to work together in mediation though. That doesn’t just help with asset division, but it can also help you maintain a more cordial relationship post-divorce. This is especially important for parents who will still need to be able to talk about important issues with each other.
Talk to Our Legal Team
If you’re ready to find out more about mediation and other alternatives to litigation, we want to hear from you. Contact Lazor Rantas, PC to schedule a consultation. We would love to tell you more about how our lawyers can be of assistance.
