Distribution of assets and liabilities
Dividing assets and debts in a New York divorce means a fair division, which is not always an equal one. In mediation, the two of you decide together how your property and debt are split.
Fair, not necessarily 50/50
Instead of a strict split in which each spouse gets exactly half of what was acquired during the marriage, the division looks at each spouse’s financial future after the marriage ends.
Why a court is hard to predict
In divorces that go to trial, the split is rarely 50/50. Some of the factors a court weighs are subjective, which makes the outcome hard to predict. In mediation, you decide.
What you can divide
- The house and other property
- Debt, including joint credit cards
- Retirement funds and pensions
Why couples mediate it instead
- Confidential
- Keep your privacy in a neutral setting, without the stress of a trial or court proceeding.
- Quicker
- Two to three sessions on average, and the whole process can be completed in as little as one month. Contested litigation can take years.
- Less stress
- You set the terms and the pace, and reach decisions that work for both of you. That helps your relationship after the divorce, too.
- One flat fee
- It covers the mediation sessions, an attorney for the legal work, the paperwork and the court filing.
Call with any questions. We will explain the process and set up a time to sit down with a mediator.