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Complex Divorce Cases
Divorce as a life event represents a significant emotional and spiritual process that often includes strong emotions like anger, fear, and resentment. As a legal process, its complexity can vary. In some cases, spouses have no trouble reaching an agreement on some of the most crucial issues related to divorce, such as child custody, marital property, debts, etc. However, it is far more often that a dispute arises exactly around those and several other issues. That demands a complex legal procedure involving spouses, their attorneys, and numerous experts from various fields. For a divorce to be complex, it usually must include a high net worth of marital estate, large family businesses, significant debts, and child custody issues in case of combative behavior of spouses. In general, the marital estate includes assets and liabilities acquired during the marriage. Bearing that in mind, it is worth noting that not all assets acquired during the marriage fall into the category of the marital estate. There are exceptions such as gifts, inheritance, and property gained before the wedding. But that’s when things get more complicated. Firstly, the process of tracing the original property value can be tangled and require the help of property valuation experts. Namely, the value this property has gained throughout the marriage is also part of the marital estate. When it comes to real estate and commercial property, determining the fair market value is essential. Establishing the net worth of the property requires the deduction of any outstanding liability on the property. Of course, this also requires the involvement of property valuation and financial experts. The same applies to cases of business interests valuation in jointly held businesses by the spouses. Determining who contributed more money and energy into a closely-held family business can be time-consuming and financially draining. Additionally, there are complex debt issues involved that require the assessment of debt distribution and tax implications. That is vital in the case of assets and investments in other countries. Resolving complex divorce disputes is usually entrusted to a judge and a jury in litigation. On the other hand, there are alternative methods such as mediation. Both procedures have their pros and cons. Often, the choice between the two is up to the disputing parties and their preferences. One of the reasons why mediation is a better alternative is that various aspects of personal and financial life become public in litigation. Contrarily, a mediation procedure guarantees confidentiality in that regard. In either case, when dealing with complex divorce, it is crucial to seek a lawyer knowledgeable and experienced in high-end divorce cases. Divorce specialists’ expertise is decisive in handling various business, property, and tax issues typical for high net worth divorce cases. Besides, coordinating between numerous experts and their case valuations requires in-depth knowledge from various fields of expertise. Understanding complex tax issues, business value assessments, and forensic reviews are critical for representing the client involved in a complex divorce case. For that reason, choosing a complex divorce specialist is an indispensable precondition for a successful and painless divorce.
Mediation and Arbitration
The methods of alternative dispute resolution (ADR), including mediation and arbitration, have become an increasingly popular alternative to lawsuits, given the constraints, time, and resources associated with court cases. These methods allow the disputing parties to reach a mutually agreeable settlement without the uncertainty and stress of formal litigation. Mediation and arbitration come with numerous other benefits, including complete confidentiality of the process, facilitated discussions, the cost-saving factor, and the ability to achieve a settlement in a matter of hours and days instead of months or years. For these and other reasons, mediation and arbitration clauses are integrated into various contracts, including employment contracts, construction agreements, manufacturing agreements, and other contracts where parties give priority to mediation or arbitration processes or waive the right to trial by jury altogether. Although many individuals use the terms mediation and arbitration interchangeably, there is a distinct difference between these two. It is essential to understand this difference to choose the most effective way to settle a dispute and make the best use of each of these methods. Mediation Unlike arbitration or litigation, mediation is a non-binding process of settling disputes facilitated by a mediator. A mediator represents neither of the parties and participates in the process with the sole purpose of facilitation. Contrary to arbitrators, mediators do not make any decisions in a dispute. They cannot force either of the parties to come to an agreement. Instead, mediators help parties understand the consequences of their choices and consider the legal position and arguments of the other participants. Mediation allows for a more informal process while providing for complete confidentiality. Most often, the parties who agree to mediation and make a sincere effort to settle their claim are able to reach a settlement in a short time at a fraction of the cost of litigation. Finally, if the parties don't come to an agreement through mediation, they may proceed to litigation. Arbitration The arbitration is the process resembling a lawsuit in which the parties present their case to the panel of arbitrators who have the final say in the dispute. In binding arbitration, the participants are bound by the arbitration panel's decision and cannot proceed to trial. In non-binding arbitration, the parties get the decision from the arbitration panel, but they can move the case forward and try their chances in court if they choose to. Most often, the arbitrators are lawyers with extensive experience in the area of a dispute. The arbitration process comes with the value of having the panel of professionals review and settle the case instead of resolving it in front of a judge or a jury. The arbitration also offers complete confidentiality and is much cheaper than a full-blown lawsuit. Summary Mediation and arbitration clauses are included in many contracts and provide an effective means to dispute resolution while keeping the dispute itself confidential. These methods for alternative dispute resolution provide cost and time saving and offer the participants a more informal setting, facilitating the discussion and settlement. Those interested in alternatives to a formal lawsuit would benefit from the services of professional mediators and arbitrators, possessing extensive experience in the area of the dispute and well-versed in alternative dispute resolution through mediation or arbitration. Consider visiting with Torres Mediation for an assessment with one of our experienced mediators at (321) 821-9995.
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