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Can Divorce Mediation Help Me Protect My Finances?

If you are planning on getting a divorce in the state of New Jersey, there are different routes that you can choose from. That is, you may pick from litigation, arbitration, collaboration, or even mediation. Of note, one of the claimed benefits of divorce mediation is that it may protect your finances. Continue reading to learn more about this and how one of the experienced New Jersey divorce attorneys at Haber Silver Russoniello & Dunn can help you in attaining this.

What is divorce mediation?

First of all, mediation is a divorce option that allows you and your former spouse to negotiate all your divorce-related terms, such as asset division, spousal support, child support, and child custody. Such negotiations occur in the presence of a neutral third party, otherwise known as a mediator.

Notably, the mediator is responsible for listening to both positions, suggesting resolutions, and offering guidance on how a New Jersey family court will likely rule on the issues at hand.

How can divorce mediation protect my finances?

With all things considered, you and your former spouse will have more control over your settlement agreements than if you left it in the hands of a New Jersey family court in litigation proceedings. In other words, you and your former spouse will have more control over your asset division settlement agreement during this time.

In addition, a mediator will work in your best interest and may lead your and your former spouse toward better financial decisions. With this, your financial agreements will likely end up being fair and equitable.

What’s more, divorce mediation is known to be less costly than litigation. This is because attorney fees and court fees are not necessary. Therefore, your finances will be protected from an expensive divorce.

What are the other benefits?

In addition to protecting your finances, divorce mediation offers many other benefits. They are as follows:

  • Mediation may be more confidential than if your proceedings were to take place in a courtroom.
  • Mediation may be speedier than if your proceedings were to go through litigation.
  • Mediation may be a healthier process to go through than a contested divorce, especially if you and your former spouse share children.
  • Mediation is a voluntary process that can be started or stopped at any time, versus following a court’s schedule.

If you believe that divorce mediation is the best fit for you and your former spouse, then you should reach out to our Morris County divorce and separation law firm. One of our skilled attorneys is ready and willing to serve as your mediator. We look forward to working with you.

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