When a couple’s marriage is over, they will have to address the topic of property distribution. If the case goes to court, the parties will be faced with a judge that has very little knowledge of the marriage aside from financial information and the value of the assets and debt to be distributed. New York is an equitable distribution state. “Equitable Distribution” means “fair,” NOT an equal division. When a court hears a divorce case and property distribution is a factor, they will allocate assets and debts in a fair and just manner. Some people believe that they are entitled to a 50/50 division, but that is not always the case. When a couple can agree to terms outside of court, they retain control over their future and are more likely to amicably resolve the matter. If you are interested in the process of Collaborative Divorce or Mediation, you should contact an attorney with experience and a vast knowledge of both. Leslye M. Schlesinger serves Rockland and Westchester County with quality legal services regarding alternative dispute resolution. If you wish to avoid court, contact Ms. Schlesinger for a consultation.
Collaboration, Mediation, and Property Division
When a couple engages in alternative dispute resolution to address relevant issues to end their marriage, they are often making the right choice for the family. Litigation takes its toll on everyone involved. Property distribution can easily become the most contested issue of a divorce. A spouse may believe that they are entitled to a certain division of the assets, even if the other has an emotional or historical tie to the some of them. Though spouses may not agree to who is entitled to what, they may be able to agree to come together to discuss the matter in a constructive and respectful manner. The goal of alternative dispute resolution is to agree to terms that everyone can bear. With the assistance of the Mediator or Collaborative Divorce Attorney, the couple will negotiate a fair division of assets. Sometimes, the parties will hire professionals, namely a Neutral Financial Specialist and/or a Neutral Collaborative Divorce Coach whose goals are to guide the couple through their options and moderate the negotiation towards an amicable conclusion.
High net worth individuals and business owners can benefit
High net worth individuals and business owners should consider the impact of divorce on their finances. When a divorce is litigated, the couple will have to disclose financial information and assign a value to assets in order for the judge to equitably distribute the property. When discovery is underway, any discrepancies with the financial information may lead to a court-ordered forensic accounting. If the financial expert found anything that may be relevant to the Internal Revenue Service, they are obligated to report it. In a similar fashion, if a forensic accountant finds something that is out of sorts when valuing a business deemed marital property, they will tell the judge, who is a mandated reporter. Though your case started out without the involvement of the IRS, the situation can easily grow into a much more serious matter. Collaborative Divorce and Mediation avoid the prying eye of the government while reaching the same goal of a full disclosure and equitable distribution of assets and debts.
Contact a Rockland County Collaborative Divorce Attorney or Mediator in New City
If you are facing a contested divorce based on property distribution, you should consider your legal options. Through alternative dispute resolution, you can save time and money while lessening the impact of the divorce on the family. Emotional court cases can be devastating. Many couples wish to keep their financial information and personal laundry private. Leslye M. Schlesinger has been guiding clients for over 30 years. She now focuses her practice exclusively on the Collaborative Divorce Process and Mediation because she believes that everyone benefits when a couple can reach the same conclusion (or better) as a court case but in a non-adversarial, cost-efficient, and time-saving manner. If you need quality legal services from an experienced Collaborative Divorce Attorney or Mediator, contact Leslye M. Schlesinger today.