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The Financial Benefits of Collaborative Divorce

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The Financial Benefits of Collaborative Divorce

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The Financial Benefits of Collaborative Divorce

Collaborative divorce is a way for couples to divorce in a non-adversarial environment. Unlike mediation, which employs a neutral party to help couples resolve differences and legally end their marriage, collaborative divorce involves four parties. Each spouse is represented by an attorney who has their best interests in mind and has also agreed not to go to trial.

Because collaborative divorce requires the voluntary presentation of financial information and the mutual agreement of process, property and asset division become straightforward.

If your relationship with your spouse is particularly confrontational or uncontrolled, collaborative divorce may not be the right choice. However, it is perfect for couples who want to save money on their divorce, remain friendly with each other, have a desire to keep family dynamics intact, and may have large or multiple assets.

How collaborative divorce saves time and money

The average traditional divorce in the U.S. takes about one year; those that end up in trial average 18 months. Moreover, the average cost goes up by several thousand dollars when a divorce goes to trial. The more issues such as asset division and child custody there are, the more expensive the divorce becomes.

Collaborative divorce by definition is more conciliatory and less acrimonious than traditional divorce. It is a shorter, more considerate process that does not go to trial. Although collaborative divorce attorneys rely on the expert advice of tax accountants or real estate professionals when necessary, the cooperative nature of collaborative divorce lends itself to fewer negotiations. By avoiding trial and having fewer meetings, collaborative divorce saves time and money.

Collaborative divorce attorneys

A good collaborative divorce attorney is one that practices family law with specific emphasis in collaborative divorce. The attorney should have specific training and experience in collaborative law. He or she should make you feel respected at all times, be able to foster dignity and respect amongst all involved parties, and be cognizant of preserving the family’s financial interests and protecting family relationships. This will ensure a positive outcome in the short-term and lay the groundwork for keeping the family together in the long-run.

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