Can Mediation Protect My Finances During a New York Divorce?

couple sitting at table with man holding document

When going through a divorce, there are many things you’ll need to consider, from how you will split your property to who will get primary custody of your children. Many assume these concept matters can only be handled during litigation, which is far from the truth. In reality, opting to mediate your divorce has many benefits. Mediation can help protect your finances, keep your divorce private, and help you and your spouse work out the details of your divorce. Keep reading to learn more about the benefits of this process in relation to your finances and discover why it’s in your best interest to connect with divorce attorneys in Nassau County to explore your legal options.

What Is Mediation?

Mediation is an alternative divorce option that allows a couple to determine the outcome of the dissolution of their marriage without court intervention. Unlike litigating a divorce, meditation allows both parties to work together and discuss what they would like.

The couple will meet with a neutral third party, known as the mediator, who will help facilitate a conversation between both parties. The mediator is not there to provide legal advice but to help move the conversation along and help the parties find a common middle ground.

How Does Mediation Protect My Finances?

One of the benefits of mediation is that it can help protect your finances during a divorce. In New York, when a couple decides to end their marriage, all marital property is split according to the state’s equitable distribution laws. Essentially, this means assets are divided based on each spouse’s contributions to the marriage, so it may not be a 50/50 split. As such, some spouses may not be happy, as they feel their contributions are not weighed as heavily by the courts. Mediation allows you to explain these feelings and advocate for a more fair property division.

In addition, when you are going through mediation, you may find that you’ll be under significantly less stress because of the more relaxed setting of mediation. As such, you can keep a more focused mind, allowing you to make better decisions regarding your finances.

Finally, going through mediation can help ensure that the agreement is fair and does not favor one spouse, as the mediator is there to ensure the outcome represents the best interest of both spouses.

If I’m Mediating a Divorce, Do I Need an Attorney?

Though you may assume you do not need an attorney because you are mediating the divorce, it’s essential to understand that you should still obtain legal representation. Your lawyer can help you understand your rights during this process and ensure the final agreement is fair before you sign it.

At Barrows Levy, we understand how complex divorces can be. As such, our dedicated legal team will do everything in our power to assist you through these challenging and overwhelming times. We can help handle the legal complexities of this process so you can focus on healing and moving on to the next chapter of your life. Connect with us today to learn more.

Contact Us Today!
  • This field is for validation purposes and should be left unchanged.