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Collaboration Might Equate to Financial Sense

Collaboration Might Equate to Financial Sense

For those attempting to avoid a “slash-and-burn” divorce a collaboration strategy for splitting assets and figuring out co-parenting might be key.

“Most people can agree that litigation is a terrible process for a family to endure,” says Jacqueline Newman, the managing partner of Berkman Bottger Newman & Rodd, LLP. “The collaborative process is one of the most productive ways to divorce when it works.”

Even when collaborative divorce works it doesn’t necessarily mean it’s pleasant.

Defining the Collaboration Process in Divorce

The collaborative divorce process, which has become a bit of trend – most recently popularized by Gwenyth Paltrow’s announcement of her ‘conscious uncoupling’ from Coldplay lead singer Chris Martin – is the process in which a team of professionals that include attorneys, therapists, and consultants, works together to help a couple end their marriage in as peaceful a way as possible.

Collaboration Might Not Be for Everyone

Collaborative divorce might not be a solve for every couple. There are nuances that you should be aware of. As with traditional divorce each party has its own lawyer. Both clients and lawyers will then meet in order to reach a harmonious settlement. So you’ll still be required to meet with your ex-spouse.

Divorce by mediation resembles a collaborative divorce. This is when a soon-to-be divorced couple has one professional (often a mediator or mediation service) work with them to end their marriage. You’ll want to understand the differences between mediation v. collaborative divorce so you know which path will work the best for you.

Why Collaboration Might Make Financial Sense

Because there are fewer attorneys involved collaborative divorce can mean the couple saves money sometimes even thousands of dollars. At the same time it’s important to remember that emotional and legal complexities can end up costing some couples far more than they bargained for – sometimes resulting in a return to a standard divorce process when the collaborative process fails.

For advice on divorce and property division and all it’s aspects, you need the expert law firm of Korol and Velen, certified family law specialists. Schedule a consultation today.

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