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Consider meditation in a high asset divorce

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Consider meditation in a high asset divorce

| Feb 26, 2021 | family law |

If you accrued your wealth through the oil or gas industries, dividing your assets will be challenging. When the stakes are high, divorce can soon turn bitter. You can find yourself squabbling over assets. While you do not get rich by rolling over and letting someone take your money, fighting your divorce out in court might not be the best way. Sometimes, a less conflictive route can prove better for all concerned.

There are many advantages to divorce mediation

Mediation is a way to settle your divorce without litigation. You and your spouse attend a mediation meeting with your respective attorneys. An experienced mediator will host the session. Their job is to help the two of you reach an agreement. You can use it for settling child custody arrangements or child support payments as well as for dividing your assets.

The problem with using litigation to settle things is that you might lose what you most value. You ask an outsider, the judge, to make decisions about the best thing for your future. They might not understand why retaining a particular piece of real estate, or the rights to drill a specific section of land are so crucial to you. They may fail to understand the land’s full potential or the family history associated with it.

When you use mediation, you and your spouse are the ones making the decisions. You can negotiate with each other. You know what is important to them, and they know what is important to you. Of course, having this knowledge about each other could also be the cause of problems. You know precisely how to hurt each other. However, as mediation requires both sides to give and take, it encourages a more amicable attitude between you. It enables you to reach an acceptable solution for you both and can do so much more quickly and efficiently than litigation.