Having survived the initial impact of a separation or divorce, it is important to look at unraveling some of the more tricky aspects of financial obligations and splitting of assets. The longer parties have been together and the more entangled their assets have become, the harder it is to come to a mutual agreement.

That said, there are several different ways to approach splitting of financial resources, including: 

• Sitting down and working together to determine how to split assets
• Engaging lawyers to ensure a just and equitable split
• Using a mediation service to help both parties come to an agreement 

Out of these options, working together to come to a resolution is the most cost-effective and timely choice. Sadly, this is not always possible as both parties may still be emotionally charged or have different perspectives on what is fair and what they deem to be an equitable share of the assets.

It is also important to understand your rights when it comes to asset splitting. Engaging a lawyer in the proceedings is the most effective way to do this.

Finding a lawyer, however, is not always a breeze. Some lawyers may promise a high percentage of the assets to get you to sign up. The pursuit of getting the promised number might lead to a financially and emotionally draining legal battle that can stretch for years. So, you need to be aware of these strategies to avoid unnecessarily stressful legal battles.

This brings us to the third option: hiring a mediator. They view the separation and the preceding and subsequent proceedings from a holistic angle. It means they consider the entirety of your relationship, not just the painful end, preventing immature decision-making due to feelings of heartache, fear, resentment, and revenge. 

Engaging a mediator can help you understand your rights, reach a mutually agreeable financial settlement, and navigate the emotional turmoil of the situation.

If you and your partner can work with a mediator, it can save you a great deal of time, money, and energy while giving you the best opportunity to move on with peace of mind.