DISTRIBUTION OF ASSETS AND LIABILITIES


 We believe that divorce is not the end, rather a transition to a new beginning. We would be honored to help you and your family with the compassion and dignity you deserve.


Don't Litigate. Mediate TM


Stephen E. Felman - President


Distribution of Assets and Liabilities

During the divorce process, it is necessary to distribute assets and liabilities when dividing marital property.  It does not necessarily indicate equal division, but fair division. Instead of a strict 50/50 split in which each spouse receives exactly one half of the property acquired during the marriage, the distribution is used to look at the future financial situation of each spouse after the termination of the marriage.



This is a flexible system; however, it is difficult to predict the actual outcome of the distribution, which is decided by the state courts. Some factors taken into consideration when dividing property during equitable distribution are subjective, making prediction unfeasible.



Call Today

Benefits of Divorce Mediation:

  • Confidential: Secure your privacy in a neutral forum without the stress of a trial or judicial proceeding.
  • Quick: The entire process can be completed in as little as one month, and takes (on average) two to three sessions, whereas contested litigation can take years to resolve.
  • Less Stress: Each party is allowed to direct the process on their own terms, reaching a decision that works for both parties. This approach allows us to move at a comfortable pace, improves your post-settlement relationship, and reduces the negative impact of the divorce on the parties involved.
  • Cheaper: The average cost of a litigated divorce in New York State is around $35,000. Mediation is a fraction of the cost!






During the mediation process, our divorce mediator will help you make decisions about:



  • Parenting Plans: Our team will help you form a parenting plan. We know that every situation is different, which is why we will help to customize an agreement that will take everyone's needs into consideration, especially your children's.
  • Child Support: There is very little discretion by the court when determining which factors to use when calculating child support. We will work with both sides to discuss your circumstances and help you develop a suitable plan.
  • Alimony and Spousal Support: Discuss the presumptively correct amount and tax implications of alimony/spousal maintenance.
  • Distribution of Assets and Liabilities: Decide how to best distribute your assets, liabilities and division of debt.
  • Other issues: Pets, extended family visitation, special needs, and health issues.



Benefits of Divorce Mediation:

  • Confidential: Secure your privacy in a neutral forum without the stress of a trial or judicial proceeding.
  • Quick: The entire process can be completed in as little as one month, and takes (on average) two to three sessions, whereas contested litigation can take years to resolve.
  • Less Stress: Each party is allowed to direct the process on their own terms, reaching a decision that works for both parties. This approach allows us to move at a comfortable pace, improves your post-settlement relationship, and reduces the negative impact of the divorce on the parties involved.
  • Cheaper: The average cost of a litigated divorce in New York State is around $35,000. Mediation is a fraction of the cost!






During the mediation process, our divorce mediator will help you make decisions about:

  • Parenting Plans: Our team will help you form a parenting plan. We know that every situation is different, which is why we will help to customize an agreement that will take everyone's needs into consideration, especially your children's.
  • Child Support: There is very little discretion by the court when determining which factors to use when calculating child support. We will work with both sides to discuss your circumstances and help you develop a suitable plan.
  • Alimony and Spousal Support: Discuss the presumptively correct amount and tax implications of alimony/spousal maintenance.
  • Distribution of Assets and Liabilities: Decide how to best distribute your assets, liabilities and division of debt.
  • Other issues: Pets, extended family visitation, special needs, and health issues.



Child Parenting Plans

We'll help you and your spouse decide on one of several custody agreements. You can opt for sole legal custody, where one parent has all of the legal rights to the child, and can make decisions without informing the other.


You can also look at both physical custody, which determines where a child lives, or developing a shared parenting plan, which decides who gets the kids during what time periods.

Read More

Child Support

In WNY, both parents are financially obligated to support their children. Child support is typically set on a case by case basis, and is financial only.


The other types of support a parent may provide - emotional, intellectual, and physical care - are not touched on. Family mediation can help address this concerns.

Read More

Alimony and Spousal Maintenance

Judged on a case to case basis, it may be the legal responsibility of one spouse to provide financial support to the other. This is done to ensure an economic balance between the two parties, and avoid unfair financial ramifications during the divorce process. Note that alimony is usually at the discretion of the state court.

Read More

Separation

In a separation, the partners remain legally married. However, the legal agreement sets out the rights and responsibilities of each party. This may include (but is not limited to) child custody and support, property division, and spousal maintenance.

Read More

Uncontested Divorce

In an uncontested divorce, our divorce mediation services are responsible to help both parties reach an agreement before going to trial. An uncontested divorce can move quickly - and it costs much less than a divorce that goes to trial.

Read More

Distribution of Assets and Liabilities

During mediation, we will help you distribute both property and debt. Note that distribution in divorces that go to trial is rarely a 50/50 split, and it's difficult to predict what a state court may do.

Read More

Contact Us Today about our Family Mediation Services

Please contact

Divorce Mediation Services of Buffalo
and we will help answer all your questions.

Contact Us
Share by: