If you and your spouse have decided to end your marriage and are looking for a way to settle your divorce outside of court, you may be considering divorce mediation. There is a common misconception that every aspect of a divorce will be contentious. However, this is not always the truth. If you and your spouse can work together to reach a mutually agreeable settlement, you can avoid litigation’s pitfalls, including the cost, time, and emotional turmoil. Please continue reading to learn how asset division is handled in mediation and how a determined Nassau County Divorce Mediator can help protect your hard-earned assets during this process.
What is Divorce Mediation?
Divorce mediation differs from litigation as it’s focused on fostering open communication between spouses as they work through their unresolved marital issues. During the New York divorce mediation process, both parties will meet with a neutral third party to reach an agreement on the terms that will apply to the termination of their marriage such as child custody, alimony, child support, and property division. It’s important to understand that the mediator does not take sides. Unlike a judge, the mediator does not make decisions but rather helps the parties understand each other’s concerns and interests to reach a mutually agreeable settlement.
While mediation can be an effective tool for minimizing conflict and the cost of divorce, it may not be the right option for all couples. For example, it’s generally not an appropriate option in cases involving domestic violence. Additionally, this divorce route is not ideal if there is a significant power imbalance between the parties.
How is Property Division Handled in Divorce Mediation?
There are several approaches to dealing with property division in a divorce. It’s important to understand that assets are divided according to the principle of equitable distribution in New York, meaning a couple’s marital assets are divided fairly, though not necessarily equally. If you and your spouse cannot decide on how to handle property division, the court will step in to split the couple’s marital assets. The judge will evaluate each party’s contributions to the marriage, both financially and domestically to determine a fair distribution of assets.
When a divorce is mediated, you and your spouse will retain more control over how your marital assets are divided. Through mediation, you can negotiate these matters with your spouse as you are afforded more flexibility. For example, if you want to retain the family home, you can offer another asset of equal value in exchange. The mediator will offer compromises that can help ensure you reach a balanced division and mutually satisfactory agreement.
At The Law Offices of Eyal Talassazan, P.C., we are prepared to help you determine whether or not divorce mediation is right given the unique circumstances of your case. Connect with our firm today to learn more about what we can do for you.
