Financial disputes and stress are a leading cause of divorce, and studies show that “financial well-being, financial disagreements, and perceptions of financial inequity are associated with the likelihood of divorce.”
If couples sign a prenuptial agreement before getting married, then money conflicts during divorce may be promptly solved. However, if this is not the case, the task of dividing assets between divorcing parties can be a stressful one.
If divorcing couples worry about estate division after a divorce, they may want to consider using a mediator instead of a lawyer. Generally, mediation is a better alternative if it is a viable one — that is, if both parties want to resolve their disputes amicably. Mediation is more cost effective, less emotionally taxing, more private, and often better for families.
What are the Benefits of Having a Mediator for a Divorce?
Mediators take on the task of evaluating and assigning the value of assets. They are then able to help the couple agree on a division of those assets, in light of considerations like each party’s financial situation before the marriage, financial contributions to the marriage, current situation, lifestyle, and the children (if any). Mediators can be a better option than court for many reasons.
Cheaper: Court cases will take longer and require more evidence, documentation, and hours from an attorney. They are, therefore, significantly more expensive than mediation.
Less Emotionally Taxing: In amicable divorces, the parties might prefer using a mediator to curb the potentially draining emotions that come with a divorce. Mediation encourages the parties to agree rather than start over in court.
Private: Decisions made in a courtroom are generally public, whereas mediation agreements can remain private. Thus couples who want to keep their lives or family’s lives out of the public eye may prefer using a mediator.
Child Support: Mediation can help parties where children are involved. As well as being emotionally easier on children, mediation can ensure that children have their needs met. This process can play differently depending on how much money is at stake — how do you determine the bare necessities of the child of rich parents? Mediation can help parents make mutual decisions for their children.
Do I Need a Mediator if I am not Wealthy?
Richer or poorer, divorce can be difficult for couples of all means and mediation can help. When it comes to equitable division, wealth is relative. Each case is going to value assets differently, and each person is going to have practical and emotional values for assets that a court might not see. Mediation can help any divorcing couple come to a conflict-reduced divorce.
Do You Need Mediation for Your Estate Dispute in a Divorce?
If you find yourself in an estate dispute with your divorcing partner, Gaslowitz Frankel LLC are experts in estate mediation. When you contact our law office at 404.892.9797, you’ll be in touch with the premier fiduciary litigators for the state of Georgia.
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Gaslowitz Frankel LLC is the Southeast’s premier fiduciary litigation law firm. Our legal team specializes in all aspects of fiduciary disputes with over 30 years of experience representing individuals, executors, trustees, and more in complex fiduciary disputes involving wills, estates, and trusts.
