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Using Mediation for Property Disputes in an Illinois Divorce

 Posted on October 23, 2023 in Mediation

Untitled---2023-11-09T163228.424.jpgProperty 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. 

Family-Owned Businesses

When a family-owned business is part of the marital estate, dividing its assets can be particularly difficult. Mediation allows couples to explore various options for the future of the business, such as co-ownership, buyouts, or restructuring. Mediators with experience in business and family law can help guide the discussions, ensuring that both parties’ interests are considered, and that the best possible outcome is reached for the business and the divorcing couple. 

Personal Property

Disputes over personal property, such as furniture, vehicles, or sentimental items, can be emotionally charged and highly contentious. Mediation provides a safe and structured environment for couples to discuss and negotiate the division of personal property. By focusing on the underlying interests and priorities, rather than getting caught up in the emotional attachment to specific items, couples can often find creative solutions that satisfy both parties.

Contact a DuPage County, IL Divorce Attorney

Property disputes can be among the most time-consuming and contentious topics during a divorce. Mediation can provide an excellent way to work through such disputes in a productive manner. To learn whether mediation is right for you, discuss with our experienced Wheaton, IL divorce lawyers at The Stogsdill Law Firm, P.C.. Call 630-462-9500 for a private consultation. 

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