When it has become clear that your love story has ended, getting a divorce is never easy. When you are contemplating a high-asset divorce, things can get complicated and you can spend a lot more money that you thought you might while trying to dissolve the marriage. If you are a resident of Fairfax County, or anywhere else in Northern Virginia, and you are planning to get a divorce, mediation is an excellent option when you want to hold on to as much of your wealth as possible. With an average household income of $115,574 and the median home price of $498,000, Fairfax couples may have many complicated decisions to make when it comes time to dividing marital assets. (Sperling’s)
Often, when we think about divorce, we have an image of a huge legal battle. When there are significant assets to split, things have the potential to get quite complicated. But divorce mediation can be beneficial for high asset couples in Fairfax County and throughout Northern Virginia for a number of reasons, such as:
- Confidentiality. Divorce litigation is carried out in a public courtroom with public filings. Your private issues and decisions are presented in a public forum. If you work in a highly sensitive field such as the government or in financial industry, where security is vital to your livelihood, mediation offers a confidential environment where both parties can be assured complete privacy.
- Time and cost effectiveness. A litigated divorce can take years, but with mediation, the parties have total control over how long the process takes to complete. Mediation costs less than a litigated divorce because resolutions can often be reached more quickly, regardless of the amount of the assets to be divided. You get a clear idea of how many mediation sessions it will take to resolve your differences, therefore giving you a better idea of how much it will cost. Ideally, by the time you reach your individual lawyers, there will be very little for them to do aside from file your paperwork.
- Self-determination. Mediation gives both parties a sense of self-determination about the outcome. With the adversarial nature of litigation, you may feel at the mercy of the judge’s ruling rather than feeling empowered to settle any disputes between you.
Some of the potentially complicated issues with a high asset divorce involve valuing and dividing family-owned businesses, partnerships and professional practices, real estate holdings, retirement and investment accounts and vacation properties. At Divorce Mediation Associates, you can work with financial advisors and CPAs or other financial neutrals as they understand how the assets can be divided, can review any potential tax problems or penalties, and offer practical ways to ensure that the businesses and properties are divided fairly. Instead of having warring experts in a courtroom you can hire one joint expert and concentrate on solutions to resolve both of your needs.
Divorce mediation allows high-asset couples to take control of their divorce, rather than feel at the mercy of lawyers and judges. At Divorce Mediation Associates, we value respectful and honest communication in a neutral mediation which creates an environment which will promote the most stable and workable options. Please schedule an appointment to learn about what services we provide by calling 703-665-7592, or filling out our contact form.