Is mediation an option for wealthy couples? Granted, mediation is not for every parting couple. And with an abundance of complex assets, high-asset couples often experience an increased chance of disputes.
However, in certain cases, mediation represents an ideal way to pursue divorce. Among its prime advantages – especially for wealthy couples – is that mediation will help couples preserve wealth and, just as importantly, their privacy. Working together toward resolution is critical with mediation.
A reliable and resourceful mediator
Once you have agreed with your spouse to consider mediation, you must find a knowledgeable and resourceful mediator who understands the specific details as well as the big picture related to your divorce.
This includes comprehending the position of each spouse, the potential entanglements that threaten a settlement and the union’s complex forms of income such as stock options, trust funds and real estate investments. A reliable mediator also does not let the numerous complicated assets overwhelm him or her.
Preserves privacy and wealth
Divorce mediation provides certain benefits for wealthy couples. They include:
- More privacy: Litigation is not synonymous with privacy, but mediation is. Privacy is important to people who have prominent roles within their respective communities and industries. They do not want the details of their divorce settlement available to curiosity seekers.
- Preservation of your wealth: Litigation more often than not turns into a costly and heated experience for both parties involved in divorce. The mediation approach is more effective and a lot less costly.
- The high probability of less conflict: You are not meeting in a courtroom, where drama and revenge may potentially arise. Instead, each spouse along with their respective attorneys – meet with the mediator who is level-headed yet assertive in getting things accomplished.
As long as tensions remain under control, certain levels of respect remain in place and the spouses remain focused on the same goal of a divorce settlement, mediation should work.
Experiencing mediation’s benefits
Each spouse must have a certain commitment to the mediation process for it to work. As long as each person understands this, they will experience the many benefits that comes with mediation.