For many, the idea of getting a divorce is an extremely emotional decision. Not only can it feel as though your world is shattering, but it can also take considerable time to finalize, especially if high net worth individuals and complex assets are involved. As such, exploring your options is critical. You may not have considered how mediation can protect your finances during these challenging matters. As such, it’s in your best interest to keep reading to discover why you should connect with Los Angeles high net worth divorce attorneys to determine if mediation is right for your needs.
What Is Mediation?
Mediation is an alternative option to litigating a divorce. Instead of pursuing a contentious and costly court battle, the couple will work together to determine the best outcome for their circumstances.
Meditation also includes the use of a neutral third-party entity, which serves to facilitate the conversation and help the couple work together. This person is known as the mediator, and their role is not to take sides or provide legal advice, but rather to help you both reach an agreement.
How Can Mediation Protect My Finances?
When you go through a traditional divorce in California, the courts will split your assets according to the state’s community property laws. As such, this often leads to one party believing their spouse is getting more assets than they deserve, especially if they are a high net worth individual responsible for providing a majority of the assets. However, during mediation, you can negotiate with your spouse to reach a more fair agreement about how you will split marital property.
In addition to granting more control over the division of property, mediation also allows you to save time and money. When you go through the courts, you must often appear for hearings, which can take time away from work and increase your legal fees. However, you can go to mediation on a schedule that works for both of you, helping to save time and money.
If I’m Interested in Mediation, What Should I Do Next?
If you and your spouse have decided mediation is the best course of action for your specific needs, understanding how to proceed is critical. The first thing you should do is contact an experienced lawyer. Even though you are not going through the courts, having legal representation during this time is critical.
When working with the mediator, ensuring you have an attorney to review the agreement before signing is critical to ensure you fully understand the terms of your divorce, the terms are fair, and the terms in the document reflect your mediation discussions.
At the Zitser Family Law Group, APC, our dedicated team of attorneys understands the complexities of this matter. That’s why we will do everything possible to assist you through these challenging times and help you find the best course of action for your divorce. Connect with us today to learn how we can guide you through this process.
