For many couples going through divorce proceedings in Illinois, financial issues are often controversial and can cause a lot of contention. In today’s economy, money matters can impact many facets of an individual’s life and as such many divorcing spouses feel as though they have to fight in order to get the assets they feel belong to them.

In an attempt to alleviate some of the disagreements caused by financial issues during a divorce, Cook County its mediation rules include financial mediation. In the past, Cook County required divorcing couples to undergo mediation for issues regarding children, such as parenting time, allocation of responsibilities and removal. Cook County now encourages couples to also seek court-appointed mediation for contested discretionary issues.

Financial issues that may require mediation

The mediation services in Cook County go beyond the parenting-related issues that are covered by Family Mediation Services. Discretionary mediation may be ordered by a judge for issues including the following:

  • Property division
  • Maintenance
  • Child support
  • Financial Discovery

The court will consider the financial ability of a couple to pay for mediation services for financial issues, since the couple is required to pay the mediator’s fee. 

The benefits of financial mediation 

When it comes to effective alternative solutions for divorce, mediation has been a long-standing choice for some time. Couples who want to avoid an adversarial process that ends up in litigation often choose to use a mediator. When a couple chooses to use financial mediation, they are often better able to control the outcome of their divorce proceedings. The courts in Cook County have found that couples who receive financial mediation are better able to come to an equitable and fair conclusion that is often easier to swallow that a court order.

The role of a mediator 

The professional chosen to serve as a mediator for a divorcing couple can be assigned by the court or may be selected by the couple. The mediator is to serve as a neutral third party who can provide legal information and educated recommendations to help encourage a settlement. During a divorce, spouses often question the claims of the ex-spouse in regards to finances, but with a mediator some of the issues that would have caused a case to go to litigation can be resolved through financial mediation.

Cook County’s rules for mediation does allow for attorneys to attend services. Obtaining legal counsel may be beneficial for spouses who have been ordered to obtain financial mediation in order to ensure that any resulting settlements are fair to both parties.

Should you have any questions about financial issues regarding mediation or would like to schedule a free initial consultation, please contact Waltz, Palmer & Dawson, LLC at (847)253-8800 or contact us online.

Waltz, Palmer & Dawson, LLC is a full-service law firm with various areas of service to assist your business, including: Employment Law, Intellectual Property, Commercial Real Estate, Litigation and general Business Law services. Individual services include Estate Planning, Wills and Trusts, Probate, Guardianship, Divorce and Family Law, Collaborative Divorce & Mediation.

This article constitutes attorney advertising. The material is for informational purposes only and does not constitute legal advice.