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Financial Mediation
Financial mediation is the process where a mediator helps parties make decisions about dividing their assets and liabilities and making commitments to future financial responsibilities when they separate and divorce.
Financial Mediation Involves Highly Emotional Conflicts. Although financial mediation may appear less emotional than custody and visitation issues -- the “meaning” of money, the house, earned retirement accounts, etc. can arouse fear for the future and resentment for having to share which results in highly emotional conflicts between divorcing parties.
Mediation Helps "Level the Playing Field". In addition, parties often have differing levels of awareness concerning finances. One person may have been responsible for paying all of the household bills, thus having a clear understanding of the monthly expenses, or the responsibility for making the major financial decisions. Mediation can help “level the playing field” so that parties are more comfortable they can make their own decisions about their property, instead of relying on the court to decide how property should be equitably distributed.
Full Disclosure is Essential for Success. In order for financial mediation to be successful, it is imperative for the parties to provide all information concerning their assets and liabilities to the mediator. (i.e. monthly account statements, tax returns, etc.) Full disclosure is essential for a successful financial mediation.
Ms. Hipple is a Certified Mediator with specialized expertise concerning financial matters. She has an M.B.A. and extensive prior work experience in the financial services industry. As such, she has experience with valuation of many types of complicated financial assets, such as small businesses, investments and retirement assets, etc...
Please feel free to call or e-mail us if we can be of assistance.
CHICAGO
(773) 625-2200
(773) 625-2220 FAX
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SUBURBS
(847) 426-2900
(847) 426-2907 FAX
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