If you are facing a high-net-worth divorce, you would probably prefer to keep it quiet. After all, divorce is a private matter between two people.
When you opt for litigation, you go to court, and your divorce proceeding is open to public scrutiny. However, mediation may be an option for you and your spouse, and privacy is one of its benefits.
The litigation process
Many divorcing couples go into litigation thinking that this is the logical, traditional way to end their marriage. But in New Jersey, there are several parts to the process.
First, the petitioner must file a document with the court requesting a divorce, and the other party may file a counterclaim. “Pendente Lite,” meaning pending litigation, comes next, and this period may last from nine months to two years. Then you enter the discovery phase in which you and your spouse seek information from each other, and the final hearing follows.
The mediation process
Mediation takes place in an office environment outside of court. In this process, you and your spouse can work together to develop a divorce agreement satisfactory to you both. A trained mediator will be on hand to guide you over any conflicts that might arise.
You and your spouse control the outcome of your own divorce, and you settle the usual issues such as asset distribution, child custody and parenting time.
The advantages of mediation
Mediation typically reaches a conclusion with much less expense and in much less time than litigation requires. Through the teamwork that mediation requires, you will learn how to communicate, an effort that will serve you well in the post-divorce era, especially if you and your soon-to-be-ex are still raising children. You and your spouse are much more likely to
As for privacy, mediation has it and litigation does not, a bit of good news that can help make your high-net-worth divorce easier to manage.