While spouses in high net worth marriages might have the resources to pay for extensive divorce litigation, fighting about financial issues in open court is not necessarily the best option. Many high-asset couples in Nassau and Suffolk counties elect to attend divorce mediation sessions, recognizing the advantages mediation offers over resolving disagreements in family court.
During a divorce, spouses must fill out multi-page financial affidavits disclosing everything from their various sources of income to their valuable personal property and financial obligations. Many successful couples and those benefiting from generational wealth prefer to avoid forced, public disclosures regarding their current financial circumstances.
The mediation process is confidential, as are any communications between each spouse and their attorney. Couples have an opportunity to discuss the unique nuances of their marital estate in a closed setting. Doing so provides an opportunity to reach an amicable arrangement without exposing the details of their wealth to outsiders.
High-asset couples can also benefit from the control they can exert over the final outcome of their divorce when they use mediation. Moreover, a negotiated agreement affords parties the flexibility they need to reach consensus regarding complex financial portfolios.
When a court has to intervene on one or more issues, it will usually revert to certain standard rulings. Those rulings are not necessarily nuanced. They are designed to work for a broad array of families, but that means they do not leave much room for unique family dynamics or preferences. Couples who craft their own custody plans, spousal support and property division agreements are typically more satisfied than those who let the court decide how things will play out.
Successful divorce mediation results in an agreement that may require compromises from each spouse. They formalize the agreed-upon terms with a written, signed settlement. That document is the only aspect of the mediation process that becomes part of the court record. Spouses considering divorce mediation often need guidance to understand the process ahead and protect themselves.
Bryan L. Salamone and Associates P.C. has experience handling private divorce negotiations, mediated divorces and divorce litigation when mediation is not successful. Long Island residents concerned about preserving their privacy and retaining control during a divorce can schedule an initial consultation by calling 631-388-6009 or contact us online.