Financial Pros and Cons of Divorce Mediation
If you want to keep your divorce out of the courtroom as much as possible, mediation can be a great option for efficiently working through the process while maintaining control over the decisions being made regarding the issues.
Like any divorce method, there are some pros and cons to divorce mediation that you should carefully consider before determining the path you will take forward. This includes some specific pros and cons related to financial matters.
Here are a few examples:
PRO: You can complete the case faster.
Faster settlements means fewer legal fees associated with the process. It behooves everyone in mediation to get through the process as quickly as possible.
PRO: There are many savings associated with opting for mediation over other methods.
While you can retain an attorney to work with you in your mediation, you will not have to pay nearly as much in legal fees as you would for litigation, which is much more attorney-involved and is drawn out over a much longer period of time.
Spouses will also split the mediator’s fee in most mediations, which also helps you pay far less money than you would have had you gone to court with your divorce.
CON: It’s not the cheapest method available.
While there are significant savings involved with mediation over litigation and several other options, it’s not the cheapest option you can find. Simple DIY settlements minimize costs and are the fastest way of resolving a divorce. However, these are very rarely a realistic option, as they basically require couples to have very few assets and very little in the way of disagreement over how they’ll settle the issues of their divorce.
You’re better off paying extra for mediation to ensure you have professional guidance as you work through your divorce.
For more information about the benefits of choosing divorce mediation, contact an experienced Long Island lawyer at Solutions Divorce Mediation.