Can a mediation work in a high-asset divorce?

On Behalf of | Nov 23, 2018 | High Asset Divorce |

Divorce usually calls up specific images of financial stress and emotional misery, especially if a couple has been together for a long time and built a solid life together. The process can be difficult, but it does not have to be awful if partners can agree to mediate their differences.

  • What is mediation in a divorce scenario?

Mediation is fast becoming a popular alternative to the contentious nature of court actions. The process begins with both parties to a dispute agreeing to allow mediation to take the place of the lawsuit for divorce between the plaintiff and defendant. (That more traditional legal option still remains if a mediation does not result in an agreement.)

  • Can a high-asset divorce be mediated?

Any dispute can theoretically be mediated. The complexity of divorce and family law, including real estate division and asset assignment, often drove people to litigation in the past to resolve their differences. Now that more divorce specialists are entering the field of mediation as either an advocate or a mediator, however, mediation is more common and more types of divorce may be successfully mediated.

  • What makes the result of a mediation different than a court order?

Both are binding once they have been issued. In a courtroom, the judge has a lot of power to determine the fate of assets and real estate. A mediation puts the power and the responsibility in the hands of the parties because they must work along with the mediator toward any final agreement.

  • Do I need a lawyer during a mediation?

Legal representation is recommended during mediation for high-asset divorce issues. An attorney can help recognize and protect your interests just as they would during a litigated divorce.