How Does Division Of Assets Work Through The Mediation Process In Florida?
The importance of mediation is that it is a function of what two people can agree upon. If they cannot agree, the judge might order them to sell their assets, pay their debts, and split what is left. In that situation, everybody loses. In a mediation, the exact opposite occurs. It’s not what someone else tells the people they need to do; it’s what the husband and wife can agree upon for themselves. It is more flexible than a court situation and there can be differential tradeoffs between tangible and intangible assets. It’s not strictly about dividing everything equally, as might be the case in court, but about arriving at an equitable solution that is acceptable to both. For instance, if one is in need of available cash moving forward immediately following a divorce with regards to establishing themselves in a new residence and getting through a period of adjustment, they might prefer to have more cash in lieu of an equal distribution of particular property or assets. In mediation, it’s up to the couple to decide what works best for them.
How Is Marital Responsibility For Bills And Debt Decided Through Mediation?
A mediation process is based on the agreement of both parties. If they can’t reach an agreement, the option always remains with either party to determine that it’s not working out and that it’s time for a judge to make a decision. Short of that, the responsibility for any distribution of marital bills or debts rests solely between the choices of the two parties. One party may decide to take on a greater portion of a debt by virtue of the fact that he or she may have a greater amount of income and cash flow.
How Long After Mediation Is A Divorce Actually Final?
In Florida, the question of how long after mediation a divorce is final depends on the county. It’s not that the law is different, it’s that the waiting list for a hearing date is different. The final hearing in a mediated settlement is usually a five-to-ten minute hearing. It is not a trial by virtue of the fact that there is nothing for the judge to decide. A complete mediated settlement allows the court to confirm who the parties are and to confirm that everyone agreed without intimidation or threats.
For a pro se divorce final hearing, currently the waiting list in Orange County, Florida is several months. In the surrounding counties, the time from filling until the final hearing can be as little as three weeks.
For more information on Division Of Assets Through Mediation, a free initial consultation is your next best step. Get more information by calling (407) 834-5800 today.
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