What Do I Consider When Dividing Assets in Mediation?

Mediation is an alternate divorce method that allows you and your soon-to-be-former spouse to settle your child custody, child support, spousal support, and asset division terms entirely on your own. The only outside intervention, if you can even consider it as such, is guidance from a neutral, third-party mediator. Though this alternative method is appealing, not every couple is equipped for it. But all power to you if you and your former spouse can put your differences aside for the time being to civilly negotiate a fair way to divide your marital assets. That said, please follow along to find out the factors to consider when dividing assets and how one of the proficient Clarksville property division lawyers at Fendley and Etson can potentially serve as your mediator.

What factors should I consider when dividing assets during mediation?

Especially if you and your former spouse have been married for a long time, or you otherwise consider yourselves to be a high-net-worth individual, it may be difficult to split your marital assets fairly and justly. It may not be as easy as taking turns hand-selecting which assets you wish to keep. One of you may have held a sentimental value toward a particular asset, while the other may get more use out of it in the wake of the divorce, as an example. So, you and your former spouse should consider the following factors during the asset division portion of your mediation sessions:

• Your and your former spouse’s financial contributions toward obtaining a certain marital asset.
• Your and your former spouse’s anticipated financial standings once your divorce is officially finalized.
• The tax implications in keeping a certain marital asset, and whether you or your former spouse are financially equipped for it.
• The custody arrangement you and your former spouse have settled on, and whether a certain marital asset should remain accessible to your child.

Is it possible to hire outside help during my mediation sessions?

Understandably, money matters may be neither your nor your former spouse’s strong suit. But you may still strive toward making these asset division decisions your own, rather than leaving it to the discretion of a Tennessee family judge in litigated divorce proceedings. If this predicament resonates with you, then you may benefit from hiring a financial expert for your mediation sessions.

For starters, they may conduct a proper valuation of your marital assets to ensure the split is fair and just. They may also further advise you on its financial and tax implications before you make a final decision. Lastly, they may recommend how to handle certain complex assets, such as your retirement funds.

To learn more about handling your mediation sessions, please contact one of the talented Clarksville family lawyers from Fendley and Etson. Better yet, schedule your initial consultation with our firm today.