Is it possible for wealthy couples to have an amicable divorce? Of course a lot depends on the facts and circumstances of the particular situation. But if the factors are favorable, mediation can prove to be an effective, less costly and more private approach to divorce than litigation.
Through mediation, high asset couples may better preserve their wealth and their privacy. But you must remember that mediation may prove challenging in high-conflict divorce in which the couple may not be willing to work together.
Negotiations, attorneys and a mediator
Divorce mediation is an approach that can allow you and your spouse to end your marriage peacefully and efficiently. This includes productive negotiations, full disclosure of your finances and keeping the interests of your children at the forefront.
In this process, each spouse is present with their respective attorneys in a non-courtroom setting – typically a conference room at the mediator’s office.
A clear understanding of the complicated matters at hand
A big challenge for wealthy couples going through divorce is dividing marital assets. The presence of complex assets such as stock options, trust funds and real estate investments along with a variety of income sources can make it difficult to determine the income of these high earners.
An effective mediator has a clear understanding of each spouse’s position, the complicated matters that threaten a settlement and is aware of the complex forms of income within the union.
With the guidance of a mediator and their respective attorneys, the divorcing couple can stay organized and on task. The initial focus remains on resolving questions related to the value of the assets, while not getting overwhelmed by the details of those complicated assets.
Benefits of divorce mediation
Here are several wealthy couples may benefit from divorce mediation:
- The likelihood of less stress and conflict: Some couples may want to air their dirty laundry in the courtroom and seek revenge against the other spouse. In mediation, you hope to have two mature adults – guided by their attorneys and a mediator – seeking a fair resolution.
- The privacy factor: Litigation tends to undermine a family’s privacy. Many wealthy couples want to maintain that privacy as they often hold significant and prominent roles within their communities, their industries, their families and through their philanthropic endeavors. Mediation keeps curiosity seekers – such family members and the media — at bay in a way that litigation does not.
Savings of time: Not only does mediation minimize intrusion in your private life, but your divorce may happen much more quickly. You are working on your schedule, not a judge’s and you know the matters that must be addressed.
- Savings of money: Mediation actually represents another way to preserve wealth. Litigation is costly by comparison.
In short, divorce mediation may be the most cost-effective way to resolve a high-asset divorce.
A more amicable way to end a marriage
For couples seeking divorce – and this includes wealthy couples, the chances of securing a satisfactory and workable divorce agreement may greatly improve through mediation. This approach not only ca provide a more confidential and ost-effective way to get a divorce, but also may even prove to be more amicable way to end a marriage. But each spouse must have faith in the process for a mediation to succeed.