Divorce Mediation Orange County Firm Alternative Divorce Solutions discusses how to create a global settlement through divorce mediation
Considering Divorce Mediation in Orange County? Learn how to create a global settlement through divorce mediation.
How to Create a Global Settlement Through Divorce Mediation:
In divorce mediation, we have the benefit of looking at your assets and debts much differently than a judge would if you went to court. Many of our clients have different kinds of assets that range from real estate to retirement and investment accounts. As we all know, not all assets are created equally. Sometimes, assets have different sentimental value and different practical uses than other assets. For example, an investment account will never have the warmth that the family home can offer. Due to the differences in these assets, court may not be the right option.
When you enter into the divorce mediation process, you should think about your overall intention first. What do you want the outcome to be on a high level? Do you want everything to be split 50/50? Does that mean you want to divide each and every asset? If you want an overall 50/50 outcome, but you don’t want to cut every asset right down the middle, a global settlement may be right for you. In that process, we look at everything you own from a holistic point of view. This means we look at your real estate, savings accounts, stocks, bonds, investments, pensions, etc. and determine what the value of each asset is. Then, we figure out what is important to you. For example, you may not care as much about an investment account as you do about having some liquidity after the divorce is final. In that case, it may make sense to trade some cash for the investment with your spouse.
When we negotiate these kinds of settlements, we often work closely with your accountant and financial advisor. If you or your spouse do not feel comfortable with the professionals you currently have, our firm can provide referrals to professionals that can assist us in making sure that there are no negative tax or other consequences to your decisions. The bottom line is this – our firm will help you take care of the details. Your role is to openly communicate what is important to you. Fairness is a very subjective thing. What feels fair to one person may feel completely unfair to the next. That is why we take the time to listen to our clients and determine their needs.