How Can Divorce Mediation Help With the Division of Assets?

 Posted on December 03,2020 in Distribution of Assets

Many divorcing couples try to avoid the time, cost, and stress of a trial by pursuing an uncontested divorce, in which they come to an agreement on many important decisions. However, this can be easier said than done, and in many cases, it helps to seek the assistance of a qualified divorce mediator. Mediation can be especially beneficial when attempting to resolve the often complicated matter of dividing marital assets, property, and debts.

What Is the Role of an Illinois Divorce Mediator?

Unlike a divorce attorney, whose role is to represent the interests of one of the parties, a mediator remains neutral and seeks to guide negotiations between spouses to allow both perspectives to be heard, minimize conflict, and identify opportunities for agreement on the way to a finalized resolution. While there is usually some financial cost for divorce mediation, it is often lower than the expenses that the two parties may face if the divorce goes to trial.

Even if you and your spouse are committed to a resolution that meets both of your needs, you may find that you are too close to the process to think clearly about all of the details of the division of property. A mediator may be able to help you see a bigger picture view of your marital assets, and their neutrality allows them to consider both sides, which may help in reaching a compromise.

Property Division Matters that Can Be Resolved Through Mediation

Some property division decisions that can benefit from the guidance of a third-party mediator include:

• Possession of the marital home: If it is important that either you or your spouse keeps the marital home after the divorce, a mediator can help you consider alternative solutions that allow this to happen, like compromising on other properties or maintaining joint ownership until your children are grown.

• Equitable division of retirement assets: You may be able to avoid the sometimes complicated process of dividing retirement accounts if you can reach an agreement through mediation in which you each retain the accounts in your name. If you do need to divide accounts, a mediator can help you reach a fair agreement.

• Handling of marital debts: Dividing debt in a divorce can be challenging, as it is often important to be sure that you will not continue to be held responsible for debt assigned to your spouse. Mediation may be able to help simplify the process if you can reach an agreement that offsets a greater share of debt with a greater share of assets.

Contact a Lombard, IL Divorce Mediation Lawyer

At A. Traub & Associates, our qualified legal team features certified divorce mediators as well as qualified divorce attorneys, so we can assist with a variety of approaches to your divorce. We can help you reach an agreement on the division of property and all other aspects of the divorce process. Call our tenacious DuPage County divorce mediators today at 630-426-0196 to arrange a confidential consultation.

Source:

https://www.ilga.gov/legislation/ilcs/documents/075000050k503.htm