Many people who are going through a high-asset divorce have to determine how they are going to handle the legal aspects. There are two primary ways to get this done. One of these is going through the mediation process with your ex. The other is to go through a divorce trial.
While each has specific times when they are the best option, the choice may come down to personal preferences. Thinking about the following points might help you to decide which one is the best for your case.
How much privacy do you need?
One positive aspect that most people in a high-asset divorce appreciate about mediation is that it is totally private. These sessions are closed to the public and they aren’t part of the public record. This keeps conidential the record of assets and the method in which things are split between you and your ex. When you go through the court, the matter becomes public record unless the court agrees to seal the record. If you aren’t willing to take that chance, you may consider trying to work out the terms of the split with your ex.
How much control do you want?
In mediation, you and your ex compromise on the final terms of the divorce. This gives each of you some control over what happens. Make sure that you’re being realistic about what’s possible and what you want to walk away with. The settlement must be equitable. You don’t have that when you use a divorce trial to end the marriage. The court will decide who gets what during the trial.
How fast do you want the divorce done?
Typically, divorces that go through mediation are resolved faster than those that use litigation. In Georgia, the waiting period is 30 days from when the respondent is served with the paperwork. You might have to wait much longer than this if you opt to have the court settle the divorce instead of using mediation.
No matter how you opt to resolve the divorce, ensure that you’re taking steps to protect your own interests. Your divorce team is central to this since each person on the team can focus on their specific area. For example, the forensic accountant can double check the financial records of a family-run business and see if there are any hidden assets to consider. Even though you want to be done with the divorce quickly, don’t rush so much that you make mistakes.