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How Does Divorce Mediation Handle Asset Division?
Dissolving a marriage can present many difficult issues to resolve. One such issue is determining how your assets will be divided. Property division is one of the most challenging aspects of any divorce. As such, many couples wonder whether they can use divorce mediation to handle asset division. Please continue reading to learn how you can use Ocean County Divorce Mediation to divide property and fight for your entitled share of the marital estate.
What is Divorce Mediation?
Mediation is a non-adversarial alternative to litigation. Through this alternative dispute resolution method, a natural third party will help you and your spouse resolve your disputed issues to reach a settlement agreement. In New Jersey, mediation can be a voluntary or court-ordered process. It’s important to understand that the mediator will not impose a solution, but will listen to both of your concerns and help you reach an amicable decision regarding the terms that will apply to the termination of your marriage. For mediation to be successful, both parties must be willing to work together. If you cannot cooperate and compromise, you will need to battle it out in a courtroom.
Can I Use Divorce Mediation to Divide Marital Assets?
When it comes to dividing property during a divorce, it’s important to understand that New Jersey is an equitable distribution state. This means that assets will be divided fairly, though not always in an equal manner. Essentially, all marital property is divided in a way that the court considers to be fair given the unique circumstances of a case. When a divorce is litigated, the court will listen to arguments from both sides and then issue a ruling based on the facts provided. However, couples can choose a mediated divorce to retain more control over the division of their property. If mediation is successful, the agreement will be submitted to the court and that will become part of the final divorce order.
Many divorcing couples find it beneficial to use an experienced divorce mediator to divide marital property. Through mediation, each spouse will be responsible for compiling a list of their assets and debts. Unlike traditional litigation, which assigns a fixed value to assets, mediation promotes flexibility. A mediator will guide spouses toward a fair and balanced distribution of assets. The mediator will help them express their wishes regarding certain assets and propose compromises to achieve a settlement that is satisfactory to both parties.
If you are considering a divorce, you need to be as proactive as possible to protect your rights and interests. Connect with the Law Office of Sarina Gianna, LLC, today to discuss your legal options.
