How Can Mediation Help Us Divide Our Property and Debts in a Divorce?

 Posted on February 25, 2022 in Property Division

In a marriage, “mine” and “yours” often become “ours.” Disentangling one spouse’s property and debts from the other spouse’s property and debts during divorce can be quite complicated. This is especially true if the spouses disagree about who should keep what. Fortunately, disagreements about the division of marital assets in a divorce do not destine a couple for divorce court. Many couples are able to negotiate the terms of their property division settlement during divorce mediation.

Reaching an Agreement on Asset Division Through Mediation

Texas courts follow community property laws when dividing marital property. However, divorcing couples are free to divide their assets as they see fit - without the court’s involvement.

Mediation can help a couple discuss exactly how property should be divided. Understandably, many divorcing spouses struggle to communicate effectively. They may be holding onto old hurts or resentments that make it hard to discuss property division without getting emotional. Many spouses are simply overwhelmed at the sheer number of decisions they must make during the divorce process and are unsure of where to start. This is where a neutral third-party mediator can help. The mediator’s job is to help you discuss property division concerns and make decisions that both spouses agree to. An experienced mediator will know how to break down the process into smaller steps and guide the couple as they explore their options.

Divorcing spouses may use mediation to decide:

• Whether they should sell certain assets to pay off shared debt
• Who will continue living in the marital home
• How they will address a family business
• Whether the spouses will divide retirement funds or not
• Who will keep the family pets
• How to split assets so each spouse can maintain the same standard of living after divorce

Benefits of Mediation in a Texas Divorce Case

Couples who can resolve divorce issues like property division during mediation can avoid the stressful, expensive litigation process. Furthermore, mediation puts the decision-making power in the spouses’ hands. Instead of a judge making decisions based on Texas law, the spouses will make their own decisions based on what works best for them and their children. Mediation is also a confidential process whereas court proceedings are public.

Contact a Plano Property Division Mediator

If you are getting divorced, consider using mediation to address property division issues. Collin County attorney-mediator Sharon M. Easley can help you decide on the provisions to include in your property division agreement, which can become part of your legally binding divorce resolution. Call 469-406-4320 for a complimentary consultation.

Source:

https://guides.sll.texas.gov/divorce