Why Asset Division is Easy and Fair with Divorce Mediation
Uncontested Divorce Mediation
Posted September 4, 2024
Dividing assets is the single most challenging part of getting divorced. Personal feelings, meaningful property, a need for stability, and the desire to get a better deal all create classic conflict when spouses seek to fairly divide assets in a divorce. This often leads to fights and having separate lawyers rarely makes the situation easier.
Divorcing spouses need a solution that can help them achieve practical and personal goals in asset division. A solution that can minimize conflict and help them achieve the real goal: Two separate and financially independent lives after evenly dividing the marital assets. The answer is Denver divorce mediation.
At Split Simple, we have a tried-and-true method to help spouses split assets no matter how complicated your portfolios or how strong your feelings. Our mediators will help you quantify, navigate, and negotiate to fairly split your assets and move forward toward a healthily complete divorce.
Why is divorce mediation in Denver the ideal answer to asset division conflicts? Let’s dive into the details.
1. A Structured Process for Asset Division
First, what often helps spouses the most is a well-established process for dividing assets. A structured approach that follows a set formula for asset division can help reduce conflicts and quickly divide all but the most emotionally charged or complicated assets down the middle. Our Denver divorce mediators are skilled at helping spouses analyze their shared properties and financial accounts and determine the optimal line of division to ensure both spouses get a fair share of both liquid and non-liquid assets.
From there, your mediator will lead you through a methodical consideration for each asset that is more difficult to divide. If you have large undivided accounts and properties, the initial assets can be used to balance the scale depending on who keeps larger assets.
2. Aligned with Colorado Divorce Law
An attorney-mediator brings the advantage of legal understanding of all Colorado divorce laws. Colorado requires that divorcing spouses split marital assets evenly. While you don’t have to split everything down the middle (good news for real estate and retirement accounts), each spouse should receive assets approximately equal in value.
This and other more nuanced divorce asset division laws are necessary to ensure your final divorce agreement can be accepted by the court. Your attorney-mediator will help you find asset-division solutions that will always be in alignment with Colorado divorce law.
3. Focus on Compromise and Trade
Divorce mediation in Denver guides spouses down a path of discussion, compromise, and trading assets instead of fighting battles over specific property. While working with two lawyers can turn asset division into legal combat, the approach is very different with mediation. Spouses are encouraged to consider what matters most and how to trade important vs unimportant assets to ensure a fair balance while helping everyone to get the specific assets or financial support they need to move forward.
Should a conflict arise over an asset that both spouses want, the mediator will lead the way through negotiations and compromise so that the matter doesn’t put your whole divorce on hold. Whatever the eventual solution, divorce mediation in Denver will help you find it through discussion, compromise, and trade.
4. Personalized to Your Lifestyle Needs
Division of assets isn’t just about splitting up money and property. The way assets are divided can help to set up each spouse for their new independent life. Both parties need a certain amount of liquid capital and can benefit from long-term assets like real estate, retirement accounts, and investments. The best way to divide these assets achieves the goal of mutual financial independence. An important example of this is ensuring that one person is not left with “the house” and no money to maintain it or pay property taxes.
Part of this is ensuring that personalized lifestyle needs are met. In addition to meeting basic financial standards, the division of assets may need to be adapted for personal needs and preferences.
5. Practical Management of Hard-to-Split Assets
What about assets that are difficult to split and weigh heavily on the scale of equal value for each spouse? Assets like these include real estate properties, unevenly sized retirement accounts, large investment portfolios, and personally owned businesses.
These assets will need careful consideration and, in some cases, a unique solution to complete the division of marital assets without harming the assets themselves. One solution is for the spouse who keeps a larger asset to pay their ex in installments over time for the buy-out price. This eases the immediate financial burden of a valuable asset without upsetting the otherwised balanced scale.
6. Adaptive Solutions for Unique Assets
Unique assets can be even more challenging. The solution to a house that you don’t want to sell is a normal challenge for a divorcing pair. But unique items require unique solutions. Your divorce mediator will take the time to understand your unique assets, their financial value, and how to effectively divide the value between spouses.
Unique assets might be a personal business or partnership that can’t be sold for liquid capital. It might be an investment property that has been managed by both spouses or something mutually inherited – bequeathed to both spouses together. These challenges can be overcome with personalized negotiations and asset management through divorce mediation in Denver.
7. Building Two Financially Independent Lives
Most importantly, your divorce mediator will be seeking to help both spouses live well after the divorce. Both spouses should have enough money to start a new life and supporting assets to help them along on their journey. This may include a house, business, and investments or simply a fair division of financial accounts and a few pieces of furniture. The key is to ensure both spouses have a fair opportunity to build separate lives without financial strife or an unsupportable asset configuration.
Denver Divorce Mediation with Split Simple
If you are looking for a way to streamline your divorce asset division for fairness and efficiency, Contact Split Simple today. Our Denver divorce mediation services will help you complete the most difficult part of your divorce through a honed process and practiced conflict management. Your divorce will be neatly divided and ready to complete in no time.
Split Simple
1624 Market Street #202
Denver, CO 80202
720-501-4600