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Mediation may be a good choice for property division issues

| Aug 15, 2018 | Firm News, Property Division |

After years of marriage, it is highly likely that you have accumulated a significant amount of assets with your spouse. When it comes time for the property division portion of any divorce proceedings, you may find that mediation provides you with certain advantages. More Kentucky couples end up satisfied with their settlements when they retain control over the content.

Negotiating a settlement can take some time depending on the assets you acquired during the marriage and those you intend to retain as separate property. Perhaps you have retirement accounts, multiple pieces of real estate and multiple vehicles, among other things. Relying on the court to divide these assets for you could result in you not receiving what you want. When amicably negotiating, your future ex-spouse may be more amenable to trading assets.

This could come in handy if there is a marital asset you want and another you are willing to give in return. The important part is to make sure that each of you provides full disclosure and does not attempt to hide assets. An investigation could confirm that the other party is fully disclosing all assets or not. Even if he or she attempted to hide something, it does not necessarily mean that you need to go to court. It may become a negotiating tool.

Mediation can provide several ways to resolve property division issues that may not be available in a Kentucky courtroom. Even if there is not total agreement between the two of you, dissension does not necessarily rule out this method of resolving your disputes. For more information on how mediation could help your situation, you may want to contact a family law attorney with experience in using this method to help couples resolve their issues.

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