Divorce Mediation Bullet Point Guide (Part 5)
Divorce is a very complicated process for many people, which requires in-depth planning and consideration. Since there’s no one-size-fits-all route to divorce, there are many different aspects that you’ll need to think about when you begin planning your separation from your partner. Over the course of many months, Darren M. Shapiro has covered some of those points in his blog.
However, for those who need a little help improving their knowledge about divorce and divorce mediation without too much reading, this bullet point series will provide a quick source of information. Here’s the fifth part of Mr. Shapiro’s bullet point series.Discussing Maintenance in Mediation
Alimony or maintenance in mediation is a critical topic that can be discussed at length with your divorce mediator. How much money a spouse should be paid, and how long they need to receive maintenance for are often common themes in this discussion.
- Some couples feel that they each person can make enough money to support themselves without extra assistance. In this case, waivers of maintenance can be provided. There are also times when it seems that one side of the relationship needs some extra help. If an agreement isn’t made naturally about maintenance, mediators like Mr Shapiro can remind couples of the guidelines commonly used in the law, based on things like the length of the marriage, or income amounts.
- If there are children under the age of 21 to consider, the payment of child support may also need to be discussed. This topic and the topic of spousal maintenance can also center around budgets and how each spouse can meet with monthly monetary obligations. Once again, the couples are not bound by statutory guidelines for child support and maintenance, but they can ask for insights into the guidelines from Mr. Shapiro if they need some extra guidance.
- Marital homes can also be discussed during a divorce mediation. For instance, Mr. Shapiro might walk the spouses through options like selling the home and dividing the net proceeds. One spouse could buy the other out of the residence, and different options can be considered regarding the timing of various real estate transactions. Mediation allows for more flexibility in these areas, whereas the courts generally jump to solutions like a sale more rapidly.
If people in a marriage are unable to find happiness in their current relationship, divorce could be the best way to get both people on the right path. Divorce mediation represents one of the most cost-efficient and least painful processes for this procedure. Divorce mediation helps people from all backgrounds to move on more rapidly with the next stage in their life’s journey. However, the decision on what to do needs to come from both people in the relationship.
- Different professionals besides a divorce mediator like Mr Darren Shapiro can be utilized in divorce mediation to help facilitate agreements that are sensible for both sides. For instance, there may be times when it is a good idea to use a financial planner, child specialist, or accountant to help address specific issues. Although it is possible to work with a mediator without using these additional professionals, they can be helpful in certain circumstances.
- With the right professionals in place to help guide and support the conversation, individuals in a divorce mediation can consider a number of crucial things, including the equitable distribution of assets. The equitable distribution of assets for retirement is a common topic that needs to be addressed in many cases. In some situations, a couple would prefer to trade assets with similar values, rather than dividing up a pension. However, some couples are happy to divide the marital aspects of all the assets, including pensions, 401ks, and IRAs.
- When discussing the equitable distribution of retirement accounts, mediators like Mr Darren Shapiro will speak with his clients about things like pre and post-retirement death benefits, the timing of certain transfers, and more. Although divorce mediation is always a flexible experience, the best mediators will need to be thorough when it comes to handling all of the various details involved. Ultimately, the settlement agreement, divorce papers, and other essential documents must be properly drafted to reflect the agreements that were met during mediation.
As well as a discussion on the equitable distribution of retirement assets, mediators like Mr. Darren Shapiro will also encourage conversations regarding other important areas with the divorcing couple. For instance, marital debt also often falls under the topic of equitable distribution.
- While many people assume that discussing equitable distribution means arranging the equal split of assets, the focus is actually on delivering what is fair. It may be that some couples decide to share their debt equally in certain divorce cases. It could also be that certain debts continue to be the sole obligation of the spouse who began that debt. Different options are available depending on what the couple needs. However, couples that want to maintain flexibility should stick with mediation, as the courts will have the right to determine what they consider to be fair for equitable distribution during litigation.
Stay tuned for more bullet-point guides to the basics of divorce mediation. If you want to discuss your mediation options with a professional, you can also reach out to Mr. Darren M Shapiro today at (516) 333-6555.