The breakdown of the relationship and the decision to end the marriage through a divorce can open a floodgate of emotions. Besides dealing with an avalanche of emotions, you also need to make crucial decisions regarding the division of marital property.
If you have worked hard, acquired wealth and made a life with your spouse, it is almost impossible to divide everything without letting anger and resentment stand in the way. However, instead of leaving your property division to the court, you can discuss this subject and reach a settlement out of court through mediation. But how can this benefit the divorcing couple?
Mediating property division
Mediation is the process where you involve a neutral third party to help you settle various aspects of the divorce out of court. The overall goal of mediation is to reach a settlement that does not only address the interests of both parties but is also acceptable to the court per Florida property division laws. Done right, mediating property division can offer the following benefits:
- Unlike litigation, mediation is a quick process. While the court process is subject to the court’s calendar among other factors, which can lead to months of litigation, mediation generally takes anything from days to weeks to resolve.
- Mediation is also cost-effective. Thus, if you are already strained financially, mediation can be an excellent option for settling your property division case.
- Mediation is also private. In other words, you can resolve your property division matter away from the public eye. No court records, and no publicized litigation.
- Mediation allows for an informal and friendly approach to resolving property division.
Dividing marital property is anything but a walk in the park. It is not uncommon for the divorcing couple to cling on to certain assets. Learning more about collaborative divorce and Florida property division statute can help you better prepare for property division mediation.