Can mediation be used by divorcing couples of high net worth?

Much general understanding of divorce comes through glimpses in the media, snippets from friends and reading occasional biographies. As divorce is something that most people don’t think will happen to them until they are already in the whirls of it, no one takes the time to find out about it and often people have very generalised and incorrect notions when they start out.

The problem is that there are many, many divorces happening that we hear nothing about. The high press coverage of celebrity divorce cases and the exaggerated stories of our friends will never give us a true picture of the average divorcing couple.

One common misconception is the use of mediation in divorce. It is often recommended as a way of saving money and the best way for parents to decide on matters of child custody. Therefore divorcing couples of high net worth and large assets to divide often overlook it. However, mediation comes with many benefits for couples with high worth assets and it can be a far better method for deciding on the divorce settlement than going through the courts.

Mediation provides greater privacy

Unfortunately, the media in the UK loves nothing more than a juicy story about wealthy people having emotional and financial troubles. If your divorce case is being battled out in the courts then reporters can sit in. How much they are allowed to report will depend on the orders of the overseeing judge, but you may still be photographed and mentioned in the papers.

This is not something that anyone wants to go through during a traumatic time in their lives. Mediation sessions provide a much greater privacy than the courts and you won’t have the added pressure of being judged and possibly ridiculed in the press.

Strong legal support

At Grant Stephens Family Law in Cardiff we have handled many cases of high net worth, through both mediation and the courts. Choosing the mediation route does not go against having excellent legal support. A divorce lawyer can support you and help you to fight your corner and know how to claim what is rightfully yours through mediation, just the same as through the courts. The main difference being that mediation is a lot easier to understand from a non-legal background and you have a lot more influence over the final decision.

Reach the best possible outcome

No matter how good your legal team and how the dynamics of your marriage have worked, and even if you have a strongly worded pre-nup, during a divorce your assets will be divided. In the eyes of the law a stay-at-home parent brings just as much to the table as a six figure salary.

Letting a judge decide on how your assets are divided is a very high risk business.

During mediation you can take a realistic approach to your situation and divide your assets for the best possible outcome for you and your ex. It isn’t nice to take a step down the financial ladder, but it is better to take the step yourself than be pushed.

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