With the availability of various divorce methods today, separating parties thoroughly contemplate which approach to take. Reasonably, divorce parties with multiple high-value assets put extra thought into which approach would best protect their property rights.
Which of the two would be better: Traditional litigation, which offers the court’s involvement, or mediation, which provides cost and time-efficiency benefits?
Mediation: A rising star in divorce
Nowadays, many parties opt for mediation to handle their divorce issues because they have more control over the agreement terms. During mediation, parties can negotiate who gets which property, considering each party’s involvement, attachment, or placement of sentimental value on the assets. For example, parties can settle to have one spouse keep the family home while the other keeps the vacation house.
Bringing a high-asset divorce to court would mean the parties let the court decide how to divide the properties between spouses. Accordingly, the court’s property division terms may not be to the parties’ liking.
There is no one correct way
Though mediation is a rising trend in divorce, it does not mean it is automatically the best option. There is no one correct way of settling divorce issues. Instead, each case’s unique facts and circumstances will determine which divorce method would yield the best possible outcome for the parties.
All part of the process
It is common to get confused with the divorce process. Parties can feel overwhelmed, especially when their case involves high-asset issues. Nonetheless, it is all part of exploring and finding the practical and suitable solution for each case.