Money issues during separation are fairly high-stakes and often complex. At the conclusion of your divorce, the financial decisions will be legally enforced. This means your finances in the future will be affected by what you and your spouse agree on during divorce. How do you ensure that you arrive at a financial agreement that is fair and reasonable?
Divorce mediation is a good option, as it’s a process where you and your spouse can iron out money disputes while protecting both your finances with informed decisions.
Money And Property Disputes Resolved In Mediation
There are many areas in legal separation where couples may not see eye to eye, but mediated divorce has repeatedly proven effective in settling these tricky issues. Financial conflicts resolved through mediation include:
- Alimony – now known as spousal support or spousal maintenance
- Child support
- Division of marital properties
- Division of marital debt
- Family businesses
- Joint accounts
- Marital settlement
- Retirement funds
- Taxes, such as those related to property or support payments.
If you have a financial or property dispute that seems especially complicated, don’t hesitate to talk to us at Holcomb Law to see how we can help you. Over and over again, we’ve used our in-depth background in Virginia law to successfully find solutions to challenging money matters. We can help you and your spouse do this, too.
Reasons For Mediating Your Money Conflicts
Why should you choose to mediate instead of battling out your financial dispute with attorneys? Though a few cases might actually need courtroom litigation, in a vast number of divorces, mediation is recommended especially for thorny issues like money. Here are some great advantages of financial mediation in divorce:
- You make sound decisions. We cannot stress enough how important it is to be calm and rational while making financial decisions. In mediation, the emotionally-charged process of divorce is moderated, so all parties can stay sensible and avoid costly mistakes.
- You’re in control. Traditional litigated divorce typically results in court orders. This means that to resolve conflicts, the court will have to decide for you and your spouse, and both of you will have to live by those decisions that you didn’t make. But in mediation, each of you get to decide for yourself while of course factoring in the other. Your mediator will guide both of you on how your respective decisions can meet.
- You get fair and equitable arrangements. Since the goal of mediating is to find solutions that satisfy both you and your spouse, your mediator will ensure that neither of you takes advantage of the other. This is unlike divorce litigation where parties fight aggressively and the one with the better lawyer usually wins.
Why Hire A Hampton Roads Mediator?
There are many licensed mediators in Virginia, and there are also lawyers who are likewise licensed to mediate. What is the advantage of enlisting a lawyer-mediator instead of a regular mediator?
Remember that money matters are not just about counting and dividing – these issues are closely intertwined with the law when it comes to marriage dissolution. Most financial disputes during divorce hinge on legalities, whether it’s alimony, child support, or even ownership of specific items. Because of this, it’s important to have guidance on financial laws, family laws, and legal arrangements. These are crucial factors in making a divorce agreement that’s legally sound, enforceable, and fair.
It takes years of education, training, and experience to effectively tackle these legal factors. In this regard, a lawyer-mediator is best qualified to handle them. As a lawyer, he or she has close familiarity with the law and its applications; as a mediator, they can use this proficiency to show you and your spouse your best financial options.
In Virginia, lawyer-mediators are prohibited from giving legal advice to either party in a divorce. Doing so would contradict the principle of fairness and neutrality in mediation. What we can do as lawyer-mediators is to guide your discussions as a couple using our legal background. We don’t help you build a case – we help you find agreeable solutions.
The lawyer-mediators at Holcomb Mediation Center are proven competent, and are ready to listen to your divorce situation. Give us a call at (757) 509-7832 to consult for free.