Property disputes are a common and often contentious aspect of divorce proceedings in Illinois. In Illinois, couples have the option to use mediation as an alternative to traditional litigation for resolving property disputes. Mediation offers a collaborative and solution-oriented approach that can effectively address common property disputes. If your divorce involves property disputes and you are looking for a way to solve them, discuss with your divorce lawyer if mediation is a process worth pursuing.
Dividing Marital Assets
One of the primary purposes of mediation is to facilitate the fair division of marital assets. Mediation allows couples to discuss and negotiate the division of property openly, including real estate, investments, retirement accounts, and personal belongings. With the guidance of a neutral mediator, couples can work together to create a customized distribution plan that takes into account their individual financial situations, contributions to the marriage, and future needs.
Valuation of Assets
Disputes over the value of assets can often arise during divorce proceedings. Mediation provides a space for couples to present their respective valuations and engage in constructive discussions to reach a mutually agreeable value. The mediator can help facilitate the process by providing information and resources to assist in the valuation process, ensuring that both parties clearly understand the value of the assets in question.
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