Posts Tagged ‘divorce litigation’

Should You Mediate Or Litigate Your High Net Worth Divorce?

Sunday, June 25th, 2017

You are thinking of getting divorced and you and your spouse are considered high net worth individuals, should you mediate or litigate your divorce? Although mediation is often more attractive than litigation due to the fact that it can save a lot of time, emotional energy and of course, money, it also requires a semi-functional relationship between the spouses in order to even be able to mediate. In addition, most high net worth divorces often are riddled with complicated assets, which are very difficult to solve in mediation.

Because of how much money is often at stake, each party wants to come away with the greatest amount, and limit the number of assets that are divided. However, regardless of whether you are the high net worth party or the spouse, there is legal entitlement on both sides to all marital assets. Maintaining the lived lifestyle prior to divorce will also be considered.

Mediation, even if it doesn’t result in a final divorce settlement and judgment, it can at least get you a legal separation, and moreover, it isn’t as emotionally taxing as litigation and keeps more of the decision-making power between the parties as opposed to litigating in court.

Ultimately, litigating is the more sensible option when the marriage has gotten to such an irreconcilable place that working together in mediation is unlikely to result in positive results if any. Also, consider the complexity of the assets, and if they can be decided fairly and accurately in mediation.

If you need a divorce attorney who has the experience in handling high net worth divorces, call 212-826-9900 to set up an appointment with Paul E Rudder, Esq., a top-rated divorce attorney in NYC. Call today!

When Is Divorce Mediation Considered An Option?

Thursday, October 13th, 2016

An alternative to taking your divorce to trial is divorce mediation, which is where you and your soon-to-be-ex-spouse will decide how the marital assets are divided and other aspects of dissolving the marriage that a judge would usually preside over. In doing so, you save a ton of money, you can control the outcome, and if there are kids involved, you have more say in their fate.

When you litigate your divorce, you are going to spend a lot of money, no question about it. The combined attorney’s fees alone will be upwards of $25,000 because you’re paying for things like discovery, delays, trials and numerous over-the-phone conversations between lawyers. However, if you mediate, the total fees, which include the review by the consulting attorney, as well as paperwork perpetration could be $5,000 max.

One thing I like about mediation is that it allows the parents to remain in a desired amount of control when it comes to the outcome. Because it is you and your spouse that are presiding over everything, there isn’t a feeling of helplessness that can come with having a judge making every final decision.

Which leads into a subject that strikes a chord with every caring parent, and that is that with mediation, you and your spouse can determine, together, what is in the best interests of your kids. If the case goes to court, and custody is contested, the court will probably appoint a lawyer for your children, who almost never listen to either parent and like to propose invasive psychological evaluations of everyone in the family. Not only is it a scarring and troubling experience, but it also polarizes the family at the worst possible time.

Mediation is only a possibility if the spouses can communicate in an efficient way, and aren’t out to get the other one.