Though many assume that all divorces are highly contested and must proceed to court, where both spouses will argue about their finances. However, divorce doesn’t have to be this stressful. Instead, couples are choosing to undergo mediation, which can help eliminate intense emotions, as the spouses can come to an agreement without the harsh debates of litigation. When going through a divorce, understanding how to protect your finances is essential. The following blog post explores how mediation and a Monroe, Louisiana divorce lawyer can help you navigate the dissolution of your marriage.
What Is Mediation?
Divorce mediation is an increasingly common option for divorcing couples to choose, as it can help avoid a lengthy courthouse litigation process.
Generally, these are a series of meetings between the couple and a mediator, someone who is a neutral third party. A mediator does not take sides like a judge but instead facilitates conversation between both parties in order to help the spouses come up with their own resolution. Generally, you can finalize your divorce within 2-3 months via mediation instead of a year or longer through traditional litigation.
It is important to note that not all who engage in mediation will be able to come to a resolution, as this may not be the best course for all couples. In these few cases, the case will have to go to court, and a judge will settle the issues.
How Can It Benefit My Finances?
In many instances, mediation is a great way to protect your finances. To begin, mediation is significantly cheaper than proceeding to a trial, as you do not need to pay for court fees or the presence of your attorney in court.
Similarly, mediation allows you the opportunity to negotiate a decision instead of adhering to Louisiana’s community property laws. According to these rules, when a couple divorces, each spouse will receive half of the assets regardless of their financial contribution to the relationship. This means that your finances are subject to forfeiture to your spouse. Instead, opting for mediation is a great way to protect your finances, as it allows you to create a fair, but not necessarily equal, distribution of the assets.
Is Mediation a Good Option?
If you’re going through a divorce, ensuring you take the time to explore all of your options is essential. However, you may be drawn to mediation as it can help save you money during your divorce and in the years following, as it gives you greater control over the distribution of your assets.
When divorce seems unavoidable, ensuring you have a competent attorney on your side is vital. While you may not need your lawyer present for the mediation sessions, they can help you understand your rights during a divorce. At Breithaupt, DuBos, & Wolleson, we have the experience you need to help guide you through this process. Contact us today to learn more about how we can help you by scheduling your free consultation today.