Can I Use Mediation to Divide Property in a Divorce?

Michigan is an equitable distribution state, meaning that during a divorce property will be divided fairly between both parties but not necessarily equally. When a judge determines asset distribution they will generally consider each individual’s financial situation, earning capacity and potential, personal responsibilities, and more. A couple may also choose to use mediation to divide their property during the divorce which can offer more freedom and control. If you are wondering if mediation is the right choice for you and your spouse, reach out to an Oakland County property distribution lawyer for more information and experienced advice.

Is Mediation Better than Litigation?

The answer to this question varies from couple to couple. Every relationship and divorce is unique so there is no one size fits all solution. However, mediation is becoming increasingly popular and is even required in some states before a divorce can go to trial.

Mediation allows the couple to maintain complete control over decisions being made like alimony, child support, child custody, etc. It gives them the freedom to create unique and flexible solutions that fit their family’s needs.

Can Mediation Be Used to Divide Property in a Divorce?

Yes, mediation can be used to determine how property will be divided during your divorce. Traditionally, asset distribution would be decided during litigation by a judge. While this is still a viable option for many people, mediation has become a popular way to handle the decisions associated with ending a marriage, including property division.

During mediation, both parties must identify all of their assets and debts by providing financial documentation like bank statements, income statements, tax returns, retirement accounts, and more. It must be determined what assets are marital property and what assets are separate property. Only marital assets are subject to division between spouses during a divorce.

The couple, often with the help of professionals, will value the marital assets based on current market value though some assets may have sentimental or other value as well. Once the necessary information has been gathered, negotiations can begin.

The couple can negotiate amongst themselves or bring in their legal representatives to assist. Either way, the final decision on which spouse walks away with which assets is left up to the couple and the couple alone.

Once an agreement has been reached and drafted by the mediator, it will be signed and submitted to a judge who will review the document. Although mediation allows the couple to maintain authority, the agreement generally must meet state requirements of equitability. If suitable, the judge will enter it into the divorce decree.

Should I Hire a Lawyer?

If you are getting divorced you should hire legal representation. Even if you choose mediation over litigation, having a professional lawyer by your side will prove beneficial and ease any uncomfortable or concerned feelings you may have. If you want to discuss your legal rights and options do not hesitate to contact a divorce attorney at Alan B. Cooper & Associates, PLLC.