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Is your High-Net worth divorce too complicated for mediation?

March 15, 2022 | Asset Division, Divorce, Firm News

Is your High-Net worth divorce too complicated for mediation?

If you and your spouse have accumulated significant assets during your marriage, you may dread the thought of a lengthy and possibly contentious divorce in court.

Perhaps you are considering mediation as another option, but are your circumstances too complicated for this alternative to litigation?

About mediation

A form of alternative dispute resolution, divorce mediation has gained steadily in popularity among couples of all economic backgrounds including those with considerable wealth. Couples faced with a High-Net worth divorce appreciate the privacy aspect. Sessions are confidential, they take place outside of court and no judge will be present. You and your soon-to-be ex-spouse will meet with a trained mediator. This is a neutral third party whose job is to keep the discussions on track and the atmosphere respectful as the two of you work toward a satisfactory divorce settlement agreement.

Other benefits

Even for couples with significant assets, mediation is usually a faster process than litigation. It is not unusual for outside professionals such as accountants, appraisers and investment advisers to assist in the negotiations when necessary. Because the process normally takes less time than a traditional divorce in court, it is also less expensive and altogether less stressful. Couples also appreciate having control over their own divorce rather than having to adhere to the decisions of a judge.

Communication benefit

The focus of mediation is on open communication. Both parties are free to ask questions and express their opinions. Some High-Net worth couples face a more antagonistic divorce than others; nevertheless, the mediator is able to help the parties feel at ease with the communication process. This is a worthwhile “skill” they can use in the post-divorce world, especially if they are still raising children and working toward building a new family structure.

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