Welcome to the sixth episode of Divorce and Your Money Podcast. Your host, Shawn Leamon, MBA and Certified Divorce Analyst, focuses on using arbitration to get divorced. Arbitration occurs when you and your spouse hire a private judge to make a binding decision on the issues relevant to your case.
The major benefit of arbitration is that it is very private, quick, and usually less expensive than other methods for getting divorced. The most significant disadvantage of arbitration is that it is final. The decision cannot be appealed unless you can prove fraud. Both spouses need to agree on the process, and you also need to be aware of your state’s particular laws, as some states don’t allow it.
Key Learning Points:
- Arbitration involves a private judge.
- A judge makes a binding decision on the issues relevant to your case.
- Decisions are private and binding.
- Arbitration is private, quick, and usually less expensive than litigation.
- Some states do not allow arbitration to get divorced.
Thank you for listening to the Divorce and Your Money Podcast. We hope the show helps you through one of the most difficult periods of your life. Shawn Leamon is also author of Divorce and Your Money: The No Nonsense Guide. One-on-one divorce coaching services are available at www.divorceandyourmoney.com.
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