Unlike the traditional divorce process, mediation allows spouses to come to a settlement agreement outside of the courtroom. While more and more divorcing spouses are turning to mediation, there are still various misconceptions about the process. Some people believe that mediation doesn’t work for high-net-worth couples or couples with complicated financial situations. However, this is far from the truth. Mediation has helped countless divorcing couples effectively sort out their finances through the divorce process. Are you considering hiring a mediator? Our knowledgeable law firm can provide all the information you’ll need. Continue reading this blog to find out how one of our Mediated Divorce Lawyers in Mansfield, MA can provide individualized legal counseling today.
ARE MY FINANCES PROTECTED DURING DIVORCE MEDIATION?
Many legal professionals and divorcees agree that mediation can be helpful in protecting your finances. Mainly this is because both you and your spouse will have control of your own assets throughout the process. The mediator will have both spouses’ best interests in mind, and they can use their expertise to guide divorcing spouses to a reasonable financial settlement.
WHAT ARE THE BENEFITS OF MEDIATION?
Here are the different ways that mediation can help you protect your finances:
- You and your spouse are in complete control of your settlement agreement
- You don’t have to worry about a judge making final decisions for you
- The mediator will ensure the agreement is equitable, so you won’t need to worry about a biased judge
- You and your spouse won’t need to hire separate divorce lawyers
- You’ll most likely be able to make better decisions because you’ll be under less stress
- You will likely have fewer conflicts with your spouse
WHAT DO I NEED TO CONSIDER?
Part of what makes the financial process of divorce so complicated is that there are many different factors that you’ll need to consider for the settlement agreement. A mediator can help you work through each consideration, including:
- How marital property, assets, and debts will be divided between spouses
- Whether alimony needs to be paid and how much the payments will be
- Whether child support needs to be paid and how much the payments will be
- What happens to any family businesses
- How joint and shared accounts will be handled and divided
- What happens to shared retirement plan funds
- How taxes (especially property taxes) will impact your divorce settlement
If you’re considering filing for divorce in Massachusetts, you deserve a trustworthy divorce attorney who can guide you through the often complicated legal proceedings. Thankfully, our highly experienced legal team is here for you every step of the way! Contact the Law Offices of Cynthia L. Hanley today for an initial consultation.