There are many reasons why you and your spouse might choose divorce mediation instead of the legal battles in a courtroom. Not only is divorce mediation a much more cost-effective way of ending a marriage, but it also allows both parties to come to mutual agreements without court interference. While every divorce is unique, these are the five most common issues discussed in mediation.
The first issue discussed is usually child custody. Many divorcing parents can decide on a custody arrangement that works for both them and their children. When the court does not have to get involved, you are also able to adjust these arrangements when it is appropriate or necessary.
Current Income and Debts
Most people these days are not without debt. These debts need to be considered, especially because these debts often belong to both parties. One factor in this is the current income of both spouses. Income can also be used to arrange for alimony or child support.
Many couples own their own home, and this is an important mediation point when going through a divorce. Mediation can help you decide whether the property should go to one party, with the mortgage debt considered, or the home should be sold and the equity shared.
Property with Significant Value
The family home may not be the only property with significant value. Other property can include cars, recreational vehicles, jewelry or even art and coin collections. Your divorce mediator may ask for appraisals on any property that was shared in the marriage.
Future Financial Assets
There are many ways to save and invest for the future. This could be through IRAs and other retirement accounts, annuities and even pensions. Throughout a marriage, both parties usually contribute to these future financial assets, and they have planned to rely on them for retirement or even unexpected financial burdens. The value of these accounts will usually be considered as the mediation process continues.
While divorce mediation can prevent costly court proceedings that take much more time, you may still benefit from legal representation. The right divorce mediation attorney can help you understand your rights as a spouse and parent, as well as your responsibilities. Before beginning the process of mediation, call Thomas Rowsey at (770) 993-5317 to discuss your case.
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295 W Crossville Road,
Building 100, Suite 110,
Roswell, GA 30075
Phone: (770) 993-5317
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