Any divorce that involves one or more persons with a large amount of wealth can add a significant amount of additional complication to the financial settlement, which can in turn cause lengthy delays and hefty additional expenditures to be incurred for legal representation.
Financial Mediation Leicester was developed for the express purpose of resolving such difficulties and settling any issues in the most expedient and amicable manner possible. This makes it feasible for progress to be made and reduces the need for divorce attorneys to fight each party’s case in court.
This is crucial in any high net worth divorce, including those involving two parties with relatively comparable income or financial position, but it is arguable that it is much more critical in cases when one party’s income is considerably higher than the other party’s.
Why are divorces involving high net worths so difficult?
The fact that there is a greater amount of money in the marriage account is not the only factor that contributes to the difficulty of high-net-worth divorces. Individuals with a high net worth also typically have a tendency to have their financial situations handled in more complex ways.
For instance, your marriage finances may contain any one of the following (or all of them):
- A fusion of one’s private and professional holdings
- Property located both on land and at sea
- Substantial private pension contributions
- Wealth obtained through inheritance and trust funds
- Assets that can be touched and seen, such as luxury real estate and vacation residences
It is crucial for both parties to have a clear understanding of what they are entitled to, such as a prospective claim on your partner’s private pension funds, and what they are not entitled to, such as some assets that were entirely held by one person prior to the beginning of the relationship.
How exactly can the process of Financial Mediation Leicester assist in the resolution of high net worth divorces?
Within the context of high-asset divorces, the process of addressing the partition of funds and assets might benefit from the instant framework that Financial Mediation Leicester provides.
In the event of any disagreements, trained and experienced mediators are good at offering assistance in a compassionate but not patronising manner, which assists in maintaining emotional control and provides clarity to the situation.
As its name implies, Financial Mediation Leicester places an emphasis only on the financial aspects of the marriage. This focal point helps to steer the dialogue free of personal complaints surrounding the termination of the partnership and keeps the spotlight squarely on finding a financial settlement that is mutually acceptable to both parties.
Finding a financial compromise that works for you is important.
Because mediators are neutral and objective, the solutions that are agreed upon are more likely to be in the best interests of all parties and dependents affected by the conflict. In contrast, a settlement reached in court is likely to assign blame and make a financial award that favours only one party.
Financial mediators put in a lot of effort to come up with an agreement that is actually tailored to the client’s needs because there is no one solution that is universally applicable to all divorces. This is especially true in the more difficult cases of high net worth divorces.
It is also possible for you to bring your Independent Financial Advisor (IFA) or Pensions Advisor with you to your Mediation Leicester sessions in order to guarantee that you receive the necessary guidance from all relevant perspectives.
If you believe that having your divorce attorney there during the Mediation Leicester sessions will help you feel more at ease, we also have an option called Hybrid Mediation, which comprises of Mediation Leicester sessions in which the divorce lawyer is present.