The Advantages of Mediation in High-Asset Divorces
Experienced Northern Virginia divorce mediators offer you more control than traditional law firms
Couples who are fortunate enough to own highly valuable assets should understand that mediation is the better alternative to litigation for many reasons. High net-worth homes, bank accounts, businesses, and other substantial assets will need to be divided equitably and will be a factor in determining the amount of child support and alimony that will be required. In litigation, the spouses can spend a fortune just figuring out what assets each spouse owns and the values of the assets. Add in disputes over which assets are marital property and how the assets should be divided and the legal fees can rise exponentially.
The mediation process crafted by Divorce Mediation Associates, Ltd. is a much better alternative to litigation. Our Northern Virginia divorce mediators help spouses understand that working toward a common goal of providing for children, maximizing business income, and a fair distribution of assets can make everyone financially and emotionally more secure and able to meet the challenges of life apart.
High-value assets in a divorce
Financial professionals first begin by helping couples identify all of the tangible and intangible assets through full disclosure instead of trying to hide the assets. We review the value of the assets, sometimes with the help of appropriate financial professionals. Before any distribution is considered, we review if there are any valid prenuptial agreements and which assets are priority assets, including keeping a business in the hands of the spouse and the partners or shareholders who are currently running the business.
Some of the many assets our Northern Virginia divorce mediators review include:
- Bank accounts
- Retirement benefits
- Stock interests
- Art collections
We examine a full range of other possible assets such as foreign interests, intellectual property, boats, planes, and other items that wealthier people may have.
Advantages of mediation for spouses with substantial assets
In addition to considerable savings on legal fees, private mediation that does not involve the regular use of their independent lawyers helps the spouses in the following respects:
- The mediation is private. Litigation is open to the media, to other relatives, and to the general public. Many couples with high-value assets do not want to share their assets for many reasons, including privacy and security.
- The solutions are customized to you. In the heat of an adversarial battle, it can be hard to recognize that many times there are solutions that really do benefit both spouses. Our multi-discipline team of professionals, along with financial planners, often discuss a range of options, including trading off some assets for others, tax benefits, creating trusts, forming life estates, and many other solutions. With the assistance of our mediators, the couples themselves often can come up with their own solutions because they know their needs and desires better than any judge or lawyers.
- Divorce mediation is more efficient. Litigation can take months or even years. During this time, the assets are not being used to their full potential and the spouses are not fully enjoying the benefits of their assets. Divorce Mediation Associates, Ltd. works to achieve workable solutions in a short-time frame so the spouses and children can focus on new relationships and living their lives.
- There is a lesser chance of further disputes. Agreements reached through mediation are more likely to last and less likely to be contested than litigated decisions or even collaborative agreements.
- In the divorce mediation process the entire process is confidential. You do not have to put your issues out in a public court room.
Mediation is also beneficial to high-asset spouses because the sessions can be scheduled for the convenience of the spouses. Mediated disputes also provide a level of detail that judicial rulings rarely provide. We can also bring in your financial advisers to assist us in crafting with you a resolution which may be beneficial to both parties and utilizes tax benefits and other techniques to maximize your financial positions.
Schedule an appointment with our high-asset divorce mediators today
Take control of your divorce instead of letting lawyers and judges control it for you. At Divorce Mediation Associates, Ltd., our integrative team of professionals has the experience and skills to help you manage your assets and care for each other and for your children in a calm, efficient setting. By putting spouses first and working with professional accountants and financial experts, we can help you reach stable, lasting agreements. Please contact us for answers to your questions and to learn how divorce mediation can benefit you and your spouse. We can be reached at 703-665-7592 or through our contact form.