High Net Worth Divorce Mediation In Wisconsin
Many couples are choosing divorce mediation due to its advantages over the traditional process. This is especially true for those with complex financial issues such as high net worth, unique investments, or family businesses. Using mediation is a non-adversarial and cost-effective process for high net worth couples to have direct control over their divorce. Divergent Family Law provides divorce mediation services to separating couples with a complex net worth. With five office locations including Milwaukee, Glendale, Brookfield, Madison, & Appleton, you can meet with a Divergent mediator in any of the major populous areas of Wisconsin.
Divorce Mediation If You Have a High and Complex Net Worth
Couples who possess a high net worth within their marriage are often told they need to hire the most elite advocate counsel to fight on their behalf in Wisconsin court. These assets can include complex business interests, significant family assets, real estate holdings, and other financial assets. While some high-net-worth cases will undoubtedly require litigation, not all need to be pigeon-holed the same way. In fact, parties may realize that running to court can only be a costly mistake in the long run.
10 reasons to seek divorce mediation with a high net worth
- SAVE TIME: Complex financial situations can take time to investigate in an adversarial manner. A neutral analysis of the entire financial picture will be more thorough and require less time. With advocate counsel, each side will present their finances in a way that paints them in the best position. This results in a lot of time wasted on posturing with the judge, who will struggle to decipher what the finances fully entail.
- FINANCIAL EXPERTS AND EXPERIENCE: Divergent’s team of mediators regularly deal with complex financial situations and helps parties evaluate and divide their assets, debts, and liabilities. Our team of mediators also regularly works with financial experts who can assist throughout the process.
- NEUTRAL FINANCIAL EVALUATORS: Mediation allows the parties to be more creative on how they divide or value their assets, including what they divide as assets. The mediator is not there to pressure the parties to come to a resolution. They remain a neutral navigator throughout the entire process.
- CREATIVE RESOLUTIONS AND UNIQUE OUTCOMES: Mediation allows for an “out of the box” resolution to the high net financial division in a divorce case. When working within the Wisconsin court system, the parties are pigeonholed into what is the most common practice, as opposed to what works best for their family during separation.
- TAX IMPACTS AND ANALYSIS: With ever-changing tax laws, high net worth divorces can be impacted greatly based on a tax analysis of the division of property. Divergent’s team of mediators helps guide you through the process and assure no unfair tax results occur that were unintended.
- ATTORNEY FEES: Mediation is far less costly than litigating a high net worth divorce. When there are multiple attorneys fighting for a client’s best interest, costs rack up quickly. This is especially true when the attorneys know you are good for it. The cost of divorce mediation, regardless of how long it takes, will be a flat rate that is known before the process begins.
- QUALITY OF THE FINAL AGREEMENT: With the help of a mediator, the parties are able to tailor the agreement’s wording to ensure its comprehensiveness. The agreement must include tax impacts on the transfer of assets, costs, processes of transfer, spousal support provisions, and any other matters unique to your high net worth divorce.
- FINANCIAL EDUCATION: Working with a mediator can help educate both parties of their current financial position and how the landscape will change in the future. In standard litigation, there is no explanation or education about finances. Each lawyer will represent their client and explain only what is needed to make a decision in the case. When a divorce is finalized, each party must manage their own individual finances, regardless of their knowledge of the process.
- PROBLEM-SOLVING ENVIRONMENT: When a divorce involves high stakes, engaging in problem-solving negotiations is of utmost importance. For determining the goals and objectives of each party, the mediator will use investigatory-type questions. Ensuring both parties are on the same page during negotiations will ensure a smoother divorce process.
- MOVING ON POST-JUDGMENT OF A HIGH NET WORTH DIVORCE: During the mediation process, both parties tend to work together and hold less hostility toward the outcome of their divorce. After all, they get to decide the final outcome of their divorce without the court’s intervention. Working together in the dissolution of your marriage can help carve a path to working together after divorce when necessary.
The Benefits of Mediation for High-Net-Worth Couples in Wisconsin
No Unknown Costs: Dealing with a high net worth divorce can become costly in a quick manner. From the onset, both parties will have to pay retainers up front ranging up to $25,000 or more! If the divorce drags out and goes to trial, the final cost can easily reach six figures. Divorce mediation’s fixed cost makes divorce budgetable and takes away the unknown of added expenses.
Less Wearing Stress: The financial aspect is just one piece of the puzzle. Having a long-drawn-out divorce can take an emotional and stressful toll on an individual, making it more difficult to part ways on amicable terms. Private mediation can save you money, hassle, and time.
Private and Confidential: Mediation has become very popular among celebrity couples and for good reason. Litigation of a divorce case is a public court record, and while things can be sealed by request, there is no guarantee it won’t be unsealed down the road. Using mediation results in the details of divorce proceedings being kept private and out of reach from the paparazzi.
Flexibility and Control: During a typical divorce process, the family court will follow standard operating procedures. It is rare the Wisconsin court will account for any special circumstances. Mediation allows the parties of high net worth to draw outside the lines of the agreement and cater to their family.