In 2026, mediation is a negotiation process assisted by a neutral who helps parties reach their own agreement, and it is typically nonbinding until a written deal is signed and approved. Arbitration is different because the Dispute Resolution Act defines arbitration as referral of a dispute to a neutral for a decision based on evidence and testimony. That means arbitration can feel more like a private trial, and depending on how it is set up, it may be binding and harder to undo. Mediation is usually better for flexible solutions and preserving co-parenting relationships, while arbitration can be useful when the parties need a faster decision on narrow issues. Both processes work best when parties exchange financial information and prepare proposals in advance. A lawyer can help you choose the best tool and draft agreements that clearly state whether the result is binding and how it will be submitted to the court.