Call To Find Your Way Forward 203-583-8256

The Law Offices of James A. Cuddy, LLC

Call To Find Your Way Forward 203-583-8256

Call To Find Your Way Forward 203-583-8256

Direct, Honest And Fair Family Law Solutions

How financial mediation works

On Behalf of | May 21, 2024 | Mediation

Divorce often involves complex financial issues that can lead to prolonged conflict and stress. Financial mediation offers a focused approach to resolving these matters efficiently and amicably.

What is financial mediation?

Financial mediation is a specialized type of divorce mediation that concentrates on resolving financial disputes between spouses. This process involves a neutral mediator who has expertise in financial matters. The mediator helps the spouses discuss and settle issues related to property division, alimony, and other financial concerns.

The process of financial mediation

In Connecticut, financial mediation involves several steps. First, both parties meet with the mediator to discuss their financial issues and how the mediation process works. Then, the mediator collects detailed financial information from both spouses, such as what they own, what they owe, their income, and their expenses.

After that, the mediator looks at this financial information to find the main issues and disagreements. Next, the spouses meet with the mediator to talk through and work out their financial matters. Finally, when they reach an agreement, the mediator helps them create a financial settlement agreement, which is then sent to the court for approval.

Relevant Connecticut law

Connecticut General Statutes § 46b-53a establishes a program for mediation to resolve divorce disputes, including financial issues. By creating this program, the statute encourages mediation as a way to promote fair and equitable solutions, reduce court congestion, and minimize the emotional and financial strain of divorce.

Making financial mediation work for you

If you face financial disputes in your divorce, consider financial mediation as a viable option. This process can provide guidance, save time and money, and lead to customized solutions that meet your needs.