Q: Mediation and our marital home
We bought our home during our 8 year marriage. Documentation does not have my name on it as owner. To save money, we opted to try to settle with a mediator we still need to get. My husband suggested buying out my equity in the home and paying off my car for me by dipping in his 401K in lieu of alimony (still offering child support). I don't have the means to move let alone buy/rent a place at this time and he knows this. This suggestion feels fishy and/or like he's trying to get over on me.
A: A mediator helps the two spouses reach a settlement outcome that both spouses agree is fair, or at least tolerable. But if each spouse is not fully informed of their potential rights and all the implications of the settlement, then that spouse might be at a disadvantage in agreeing to a mediated outcome. The mediator might not advise about all the rights a spouse has and various alternatives. Saving money by not having an attorney represent you might cause you to lose out financially. Having your spouse pay you the home equity and pay off the car, compared to receiving spousal support, might or might not be the best for you financially. Use the Find a Lawyer tab to consult a local Family Law attorney who can review various alternatives and answer your questions so you are fully informed in the mediation. Many attorneys offer free consultations.
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