Is mediation a good option for your high-asset divorce?

Divorcing couples with a high net worth often dread litigation for several reasons including the public scrutiny that accompanies court proceedings.

If you and your spouse can work together to create a viable divorce agreement, consider mediation, an option that affords privacy among other benefits.

Advantages

Divorce mediation takes place outside of court. It is a process that has gained in popularity for couples of every economic level. The parties meet with a trained mediator who will ensure that they communicate with respect and remain focused on resolving any conflicts that arise. During mediation sessions, parties can work out major issues including property division, parenting plans and child custody arrangements. This form of alternative dispute resolution reduces the anxiety associated with divorce as well as the expense and length of time required in litigation. Studies show that mediation is also less stressful than the traditional court process for the children of the marriage.

Drawbacks

Mediation is not recommended for every couple. If there is a history of violence in the marriage or if there are addiction issues, the traditional court process is the better option. Also, if couples find they cannot communicate effectively or compromise on major issues, their attempt at mediation may fail, resulting in litigation and added expense.

Next steps

Interest in mediation is on the rise as courts continue to have limitations on in-person hearings and trials. If you and your spouse value your privacy and believe you can develop a divorce agreement with the guidance of a neutral third party, mediation may be the best way to end your marriage and begin the next chapter of your lives.