The “Marital residence” is a term used in divorce law to refer to the property where the couple resided together before the breakdown of the marriage. Since the marital residence is often the most valuable asset and a mortgage is often the largest liability, deciding which party keeps the marital residence can be one of the most difficult decisions a couple will make in a divorce. Unlike a bank account, a house cannot be divided in half. For this reason, we often pay special attention to structuring how the marital residence is accounted for in equitable distribution. In a divorce,...Read More
Tag Archives: Mediation in Divorce
The Benefits of Mediation in Divorce
It is universally agreed that when possible, allowing parties to make their own decisions that impact their own financial outcome with the assistance of a mediator is much better than having a judge tell everybody what to do. The mediation process, because it is a negotiation, gives the parties a chance to seek a win-win resolution or to come up with alternative resolutions that benefit everyone involved. Litigation, while necessary in certain cases, is indeed a win-lose proposition. In effect, there can only be one “winner” or “loser” in trial. Trial is an exercise of loss of control by the...Read More