Why mediation is the sensible choice.
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Divorce not only terminates a marital union, it also abolishes an economic partnership between the two parties.
In unraveling the marriage, the court requires you to settle the following issues:
Ending a marriage can be an emotional and overwhelming experience. Most people who have been through divorce litigation will tell you that the experience was emotionally stressful, adversarial, dictated by the schedules and procedures of the legal system, prolonged, and prohibitively expensive.
Divorce mediation, on the other hand, gives you a structured process to get a divorce that avoids the unnecessary expense and emotional turmoil of divorce litigation.
Working with mediator Ide at Hudson Valley Divorce Mediation, you are provided with a safe and private environment to work, and issue-specific guidance as you and your spouse sort things out.
Getting started
To get started, mediator Ide would want to know more about you, your circumstances, and your goals for mediation. Is there already some degree of common understanding between you and your spouse? What worries you the most as you move forward with the divorce?
If you have children, you will make plans for their care and support, as described in Child Custody Mediation.
Money issues worry most couples. To begin to unravel your financial affairs, mediator Ide guides you in collecting information on what you own and what you owe, so that a complete picture of your financial situation can be constructed.
What needs to be done?
In order to obtain a judgment of divorce in court, you and your spouse will need to present a financial (net worth) statement and an equitable division of your marital assets and liabilities. If you have children, you will also need to have a detailed plan of your shared parental responsibilities, including child support obligations. If spousal support (alimony) is agreed upon, this will be fully described as well.
On the personal side, you may feel the financial impact of the divorce. The family income that had previously provided for one family unit now has to support two separate households. You and your spouse may both need a new spending plan and a realistic budget to see what you can afford and what lifestyle adjustments have become necessary.
How a New York divorce treats marital property
In New York, marital property is divided based on the idea of “equitable distribution.” An equitable division does not necessarily mean an equal share split down the middle, but rather an allocation that is considered fair and just, in the context of the couple’s overall circumstances.
Mediating the division of marital assets and debts
Full disclosure of financial information is expected of each spouse.
To calculate your net worth (your assets minus your debts), everything that you own and owe is listed. A dollar value is given to each asset. Some assets are simple to assign a value, such as cash in a bank account or in a 401(k). Financial account statements are readily available for verification.
Other assets will require an expert’s opinion in order to set a value, such as your house or your business. A real estate appraiser can be engaged to see how much your marital home is worth, and a financial professional may be hired to value, say, your landscaping company.
After your financial picture is complete, you and your spouse start the important conversation on what you each need now and in the future. What assets you value and what can be offered for trade-off. You decide what is fair and how best to balance inequity. The mediator Ide assists you in your conversation, and helps you negotiate a fair division of your marital property and debts, and appropriate child and spousal support amounts if required in your situation.
A summary of the steps to take:
Information you and your spouse will review:
Making informed decisions
During mediation, you and your spouse are encouraged to consult appropriate experts and use relevant professional services when necessary so that you can make good, informed decisions. For example, you may need real estate appraisal services, tax professionals, experts who valuate pensions and business interests, child psychologists, and a consulting attorney whom you could ask questions with legal implications.
Expert opinion, however, need not always be determinative. It is for you to enter the mediation session armed with solid information, so that you can weigh your options and choose the best course of action.
The negotiated agreement is not considered complete until both you and your spouse find it acceptable and satisfactory.
The Memorandum of Understanding
The outcome of divorce mediation is the creation of a Memorandum of Understanding, or MOU, which records the agreements arrived at during mediation, and which will serve as a basis for your legal divorce settlement or Separation Agreement. Mediator Ide at Hudson Valley Divorce Mediation recommends that you and your spouse each have a consulting attorney review the MOU to ensure that you have not agreed to anything that is against your own interest.
If both sides, after legal consultation, take no issue with the terms of the MOU, a neutral attorney who collaborates with Hudson Valley Divorce Mediation is available to draft and file your legal documents so that the court can grant you a divorce. Alternatively, you can have your own attorney prepare the legal papers.
Also see Frequently Asked Questions for more information.
This information is provided by Hudson Valley Divorce Mediation as a free educational resource, and does not constitute legal advice. You should obtain legal advice from a qualified attorney who is familiar with the facts and circumstances of your situation.