What is Financial Mediation?
Financial mediation in divorce involves a qualified neutral attorney mediator meeting with both parties to a divorce in a non-binding confidential process to assist the parties in reaching a mutually acceptable agreement. The role of the mediator is to assist in identifying the issues, reducing misunderstandings, exploring and clarifying the parties’ respective interests and priorities, and identifying and exploring possible financial solutions that will satisfy the interests of all parties and thereby facilitate resolution of issues in dispute that may include:
- Child support and/or spousal maintenance
- Complex financial scenarios
- Complex employee benefit plans
- Division of stock options, restricted stock units, deferred compensation, retirement plans, and pensions
- Ownership of a business
- Division of assets, liabilities and debts
- Recognizing tax considerations
A mediator’s duty is not to the individual, but to both parties’ goal of reaching an agreement while avoiding court.
This prevents the mediator from serving as an advocate for either party. While courtroom proceedings are open to the public, mediation is a confidential process that will help protect your privacy.
Discussions and disclosures in mediation can also be protected from disclosure in future litigation. Couples attending mediation are encouraged to seek independent counsel with an independent attorney to review any agreement reached in mediation.
Have questions about financial mediation?
Contact our firm to inquire about financial mediation with Margaret Bennett and for further information on the mediation process.