Experience, Accessibility And Proven Results

Attorney Banner

How can mediation help me work out my financial future?

| Jan 4, 2021 | Mediation |

The common reason divorcing couples go to mediation is to save money and end a marriage without the stress and acrimony that comes with a court fight. You might find mediation attractive for these reasons. In addition, mediating the end of your marriage may result in a better financial future for you once the process is complete.

Your divorce settlement will divide up your marital property. Your share of the marital assets will help support you in your post-marriage life as you seek to regain your financial footing. As U.S. News and World Report explains, going to mediation may be a bigger help than divorce when it comes to working out your financial future.

The stress of a court battle

People commonly know divorce court as a place for spouses to hash it out over their marital possessions. However, waging this kind of fight can financially and emotionally drain you. You might decide at some point to concede battles over property if it means the ordeal will end and you can get on with your life. This might not leave you in the situation that you had hoped for following your divorce.

The encouragement of mediation

The lower stress environment of mediation may help you think more clearly about your future. Without court battles to worry about, your mind could gravitate towards how to forecast your financial needs, such as the income and expenses you will likely have following your divorce. If you know you will live by yourself and on your own income, you will need to know how much you require from your marital assets to keep yourself financially afloat.

By doing your financial homework, it leaves you with an asset or monetary amount that you can negotiate towards. In the heat of a court fight, you might pick an amount without knowing for sure if you require it for your living situation. With a well researched financial goal, you may demonstrate to your spouse that you have a compelling case for your argument and reach an agreeable solution.