Divorce is a difficult and often painful process, but it can be harder for those with more assets. High-asset couples have so much more to fight over that their divorce proceedings can become protracted messes.
Mediation has become a popular divorce solution in many jurisdictions, and high-asset couples can potentially benefit from a mediation approach rather than a litigated one. Why do some high-asset couples decide that mediation is the way to resolve the issues from the dissolution of their marriages?
Mediation offers more say in their financial future
With a traditionally litigated divorce in Missouri, the judge is the one who eventually has to make decisions about how you equitably divide property with your ex.
People find it disempowering to not have a say in whether they stay in their family home or what assets from their marriage they get to keep.
In divorce mediation, you can focus on retaining the assets that matter the most to you, whether you want to keep your family cottage on the lake or your individual retirement account.
Mediation is confidential
There is an expectation of confidentiality for all mediation records. What you say to the mediator or to your spouse won’t become part of public record, like your testimony in court potentially could.
The confidentiality of mediation allows you to address issues like your spouse’s drinking habits or infidelity and how those matters should affect the outcome of your divorce without potentially damaging either of your reputations or your relationships with the kids.
You waste less money and time on the past so you can focus on the future
High-asset couples litigating major property division matters could diminish their marital estates by thousands of dollars by fighting in court over who gets what.
Although mediation does involve bringing in another professional beyond your individual attorneys, that expense up front might save you more money in the long run. The less your resources go toward court costs, the more you will have set yourself up for a brighter future after the divorce.
Exploring all of your options regarding the dissolution of your marriage can help you employ the best solutions possible for your current situation.