When it comes to divorce, finances can be a major point of contention. However, with the help of professional mediation services, it is possible to reach a mutually agreeable solution in a respectful and cost-effective way. At Barclay Devere Family Mediation Chelsea, we specialize in helping families navigate the complexities of separation and divorce, including financial matters.
Mediation is a form of dispute resolution that involves both parties coming to the table to discuss their concerns and come to an agreement. A neutral third-party mediator facilitates this process, helping both parties to have their say and find a mutually acceptable solution. Unlike going to trial, mediation allows couples to maintain control over the outcome of their case, and is often less stressful, less costly, and less time-consuming.
1. Identify All Assets and Liabilities
One of the initial steps in the mediation process is identifying all assets and liabilities. Depending on the complexity of your financial portfolio, this could involve a deep dive into bank accounts, property, investments, debts, and more.
2. Determine the Value of Assets
Once all assets and liabilities have been identified, the mediator will work with you and your partner to determine their value. This step can involve bringing in outside experts, such as real estate appraisers or forensic accountants, to ensure a fair and accurate valuation.
3. Consider Tax Implications
When dividing assets and liabilities, it is important to consider tax implications. For example, certain investments may have different tax implications when sold, or some assets may lead to increased tax burdens in the future.
4. Create a Financial Plan
Once all factors have been considered, the mediator will help you and your partner create a financial plan that works for both parties. This may involve dividing assets and liabilities equally or proportionally, establishing a payment plan, or coming to some other arrangement that works for your unique situation.
5. Review and Finalize
Once your financial plan has been established, the mediator will work with you and your partner to review and finalize the agreement. This will involve ensuring that all factors have been considered, and that both parties are satisfied with the terms.
At BarclayDevere Family Mediation Chelsea, we pride ourselves on providing compassionate and comprehensive mediation services to families. Our experienced mediators have a wealth of knowledge about financial matters related to divorce, and are committed to finding creative solutions that work for both parties. We understand that every situation is unique, and will work with you to find a solution that meets your specific needs and goals.
If you are considering divorce or separation and have financial concerns, mediation can be an excellent option. With the help of a professional mediator, you can work through these issues in a respectful and cost-effective way, and come to an agreement that works for both parties. At Barclay Devere Family Mediation Chelsea, we are here to help. Contact us today to learn more about our services, and find out how we can assist you in moving forward.