DIVORCE SERVICES

Couples who are getting divorced usually want to know what is divorce mediation and how do I find St. Louis divorce mediators?

We receive many calls from business owners about how to value a business, or how a divorce affects the value of their company.

Some of their questions have to do with a business valuation, divorce financial planning or how to calculate alimony and child support.

Do It Yourself or DIY Divorce

The first process is just sitting down with each other and outlining how you are going to split everything. This is the "do it yourself divorce" approach. This could include discussing what to do going forward if only one person works, how are the bills going to get paid and who will keep the house. This seems simple, but there is no guidance from a financial or legal standpoint.

Divorce Mediation

Another option is divorce mediation – which involves another person or mediator to help you sort through all the issues. There are many ways to go about this “mediation” process. You can hire a mediator, who could be an attorney or divorce financial expert. Then if you have a business, you can jointly hire a company valuation expert. The mediator guides the couple through the difficult discussions and helps them create and agree on the plan going forward.

There is some structure, but the couple is in still in control.

Collaborative Divorce

Another option along these same lines is collaborative divorce. This process has more structure and involves a “divorce coach” who serves as the facilitator of the meetings and then each person has an attorney. There is also a financial neutral - CDFA or Certified Divorce Financial Analyst - who will help the couple understand the “numbers” or financial implications of the settlement.

The key difference in this process is that both people agree to go through the process and NOT ever battle it out court.

If the couple decides to stop the collaborative process, then all the professionals are prohibited from working with the couple in litigation. Basically you have to start over which will cost more money, time and effort. But if both people are committed to settling their divorce outside of court, collaborative divorce helps give some structure and moves people to the finish line, even when there are difficult issues to discuss. The couple is still in control and can have it go as quickly as they wish.

If there is a business involved or maybe the couple owns a few buildings - getting a business valuation expert will be important. There are ways to hire ONE expert and work through the mediation process. The video below helps you understand the way it works.

Most people who have complex financial situations may have enough money to support two households after the divorce, but they don’t want to “waste” their money on people who could help them get divorced. Here is the thing, the people you hire and the process you choose will be worth the money, because then you will both have a clear plan on how to move forward. There is no good or bad option, it really depends on the dynamics of the couple.