Protecting Financial Interests During Divorce Mediation

Whether a divorce is amicable or contentious, everyone wants to protect their own financial interests.  If you have an existing prenuptial agreement, some things may already be decided but even with a prenup, some things may need to be negotiated and things may have significantly changed since you first drafted the prenuptial agreement, necessitating a re-negotiation.  And, if you didn’t have a prenup, there will be more work to do to ensure your financial interests are protected. Working with a divorce mediator can help keep conversations fair and assist spouses in negotiating difficult and uncomfortable financial conversations.

Financial conversations can be uncomfortable and you may or may not have a good grasp of all your assets and debt.  Unfortunately, there are also times when a spouse tries to conceal assets.  When you work with separate lawyers, a lawyer will work to only protect the financial interests of their client but when you work with a mediator, it prioritizes equitable dissolution and amicable resolution so that both spouse’s financial interests are fairly protected.

Transparent financial conversations are optimal so mediations are conducted with all parties present unless otherwise agreed upon by both spouses. Each spouse should take it upon themselves to fully educate themselves on their individual and joint financial situation including income, expenses, assets, debt, real estate, etc. If you are still concerned about protecting your financial interests, a financial expert or investigator can be obtained.  The divorce process can be incredibly costly and working with a mediator is an easy way to save significant money during divorce, which further protects your long-term financial interests.

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