How does mediation help Louisville divorce cases with substantial assets? It is true that Kentucky Family Law requires an equitable division of marital assets and liabilities. How is this complicated when a case involves substantial assets, investments, retirement vehicles or the ownership of a business or professional practice?
The key to an equitable division of assets and liabilities is to establish a factual and accurate valuation of each individual asset. Not all assets of equal “value” are actually worth the same in property division. For example, you might have $100,000 worth of stock and a home with $100,000 in equity. Are they equal? One must examine the actual “basis” in the stock and the value of that investment after the sale is completed and appropriate taxes have been paid.
In other cases, one of the spouses may have more emotional attachment to specific assets. If the matter is simply placed before the Court to decide the Judge may or may not award part or all of those assets to the party who deeply desires them. What happens when both parties want a specific asset?
How can mediation help Louisville divorce cases with substantial assets and complex investments? Mediation allows each party to maintain a level of influence and control over the process. An independent third party (the mediator) should have expertise associated with the specific types of assets associated with your case. The parties may agree to an independent appraiser to establish the value of each asset.
In other cases each party may hire their own expert. Generally speaking, the valuation of experts representing separate parties in a divorce is often influenced by the interests of the person who hired the expert. It is not unusual for two experts to approach the mediation or Court with valuations which are substantially apart. Which is closer to the actual value of an asset?
Mediation structures the environment for the process and the process for negotiations. Each party has the ability to offer proposals or alternatives in order to help protect their interests while moving the process forward.
Mediation is a private, confidential venue which keeps your personal and financial information out of the public record. This is an attractive benefit for those who do not wish to have their private business published in public records which can be accessed by anyone from nosey neighbors to friends, family members or even children.
How does mediation help Louisville divorce cases with substantial assets? Mediation keeps your personal and financial information private while providing a structured process for establishing valuation, negotiations, and ultimately reaching a settlement agreement which truly divides marital assets and liabilities between the parties in an equitable manner.
We invite you to review the strong recommendations of our former clients and contact us or call 502-584-1108 to schedule an appointment with one of our experienced divorce and family law attorneys.