Although mediation has advantages over litigation for many people planning to divorce, it can be an especially good fit for older couples.
If you and your spouse are facing later-in-life divorce, mediation is an option that might suit your circumstances better than standard litigation.
Career longevity and assets
The longer the career, the greater the compensation. There will likely be retirement accounts and perhaps a pension. There may also be units of restricted stock, an executive compensation package and ownership in subsidiaries or companies. Each of these has a certain value, and together they constitute assets to divide in a divorce.
You may also qualify to collect Social Security from your spouse’s earnings. However, your marriage must have lasted at least 10 years. There are other requirements and limitations that you can discuss with your attorney or mediator.
Mediation and savings
Older couples often prefer mediation over litigation because this process saves time. A traditional divorce in court can last for months, even a year or longer. Mediation allows you and your spouse to control the outcome of your own divorce and arrive at a satisfactory settlement agreement much more quickly. As a rule, mediation is also less expensive than litigation, which benefits both of you in terms of post-divorce finances.
In mediation, the focus is on communication as you and your soon-to-be-ex work together to create your settlement agreement. Older couples are often interested in maintaining a civil relationship after divorce. In this respect, the communication skills you use during the mediation process will serve you well as you enter the next phase of your life.