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Contemplating Divorce in Today’s Economy
Like it or not, the state of our economy is often a barometer for many of the daily emotions we experience. The markets are up and we are happy. The markets are down and so are we. Our country's current economic turmoil has so many of us on an emotional roller coaster. It is hard enough for intact families and even harder for those facing marital separation and divorce.
Married couples seeking to part ways have always considered the high financial costs involved in uncoupling. Even in times of national prosperity, the high costs of divorce can make parties think twice, often delaying what for many of them is the inevitable.
Divorce Mediation is an affordable alternative to the traditional two-lawyer adversarial approach to separation and divorce. Today's harsh economic realities make mediation, perhaps more than ever, worth considering for couples who realize that their marriage has ended. Traditional divorce requires that each party retains separate attorneys. The initial combined retainers could easily reach $10,000.00, and that amount increases so long as issues between the parties remain unresolved. A traditional, litigated divorce is often protracted over a year or more, which only adds to the emotional distress which always accompanies the end of a marriage.
The Divorce Mediation process enables couples, in an environment of cooperation and respect, to negotiate the terms of their agreement as they prepare to end their marriage. Retainer fees may be non-existent, and the entire process can often be completed within two to four sessions of 90 minutes each. Free consultations are often offered to introduce the couple to the mediators and the mediation process, and to answer any questions they may have.
It is important for couples to realize that even in today's very difficult economy, there is a way to navigate the intricacies of separation and divorce at a fraction of the cost of a traditional, litigated divorce, and within a relatively short amount of time. Divorce Mediation is the way.
The New York court requires that divorcing spouses attend a preliminary conference, at which the parties try to decide occupancy of the marital home, daily care for any children and payment of expenses. At the conference, the spouses also discuss exchanging of the following information that includes net worth statements, appraisals of pensions and real estate, interrogatories (formal written questions), and the taking of depositions.
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