Mediation is not only for couples who are on a budget. Many couples with complex financial issues, such as those with a high net worth, unique investments and family-owned businesses are choosing divorce mediation because of its advantages over traditional litigation. Mediation is an approach that is non-adversarial, cost-effective, and puts high net worth couples in greater control over their divorce settlement.
Roseann Vanella, owner of Advanced Mediation Solutions (AMS), has an extensive business and financial background and in-depth experience mediating divorces for high net worth couples. Before founding AMS, Roseann spent over 25 years working for a Global Fortune 100 firm. During her time in the corporate world, one of her specialties was negotiating complex contracts. She handles each mediation session personally, and she puts her unique skillset to work to craft win-win settlements for couples with significant financial assets.
The Benefits of Divorce Mediation for High Net Worth Couples
If you have a high net worth, your divorce can become very costly. For starters, both spouses will likely be asked to pay up to $25,000 (or more) right away for their attorney retainer fee. And if it turns into a long, drawn out litigation procedure, the overall bill can easily top six figures. The financial cost is only part of the equation, however. A protracted court proceeding can also exact a high emotional toll, straining family relationships and making it more challenging to part ways on friendly terms.
Private divorce mediation can save you tens of thousands of dollars, and your divorce can be finalized (in most cases) within just a few months. Some of the other important benefits of mediation include:
Confidentiality: A growing number of celebrity couples are choosing divorce mediation, and for good reason. Litigation is part of the public court record, and even if those records are sealed, they can still be unsealed at a later date under certain legal circumstances. We do not hear much about the divorces of Tiger Woods and Elin Nordegren, Gwyneth Paltrow and Chris Martin, and Ben Affleck and Jennifer Garner because these couples opted for divorce mediation. As a result, the details of their proceedings were kept private and out of the hands of the paparazzi.
Flexibility and Control: The family court typically bases the division of assets in a divorce on pre-set formulas. Very seldom do they account for the specific circumstances of couples that have significant and unique financial assets. With divorce mediation, you and your spouse are in control of the proceeding (under the skilled guidance of a professional third-party mediator). The financial issues in your divorce are worked out in a private setting that allows for open discussion and creativity.
When necessary, we can also bring in outside experts to evaluate the estate and help explore various asset division and support arrangements. These include:
- Financial Advisors
- Forensic Accountants
- Business Evaluators
- Real Estate Appraisers
- Pension/Retirement Appraisers
- Investment Appraisers
Spouses can even bring their own legal counsel to mediation if they so choose.
High net worth couples are increasingly turning to divorce mediation to save money, protect their privacy, and dissolve their marriage in a more amicable way. If you are looking for a viable alternative to costly and protracted divorce litigation, contact us today at 856-669-7172 for further information and an initial consultation.