The Financial Benefits of Collaborative Divorce

Posted by Unknown | Mar 27, 2014 | 0 Comments

Collaborative divorce is a good option for couples who are looking to reduce contention between them during the divorce process. It is also a good alternative for couples who are willing to work together and save money. The US News and World Report discusses how choosing collaborative divorce can be a good financial decision.

Collaborative divorce is described as being an alternative to "the slash and burn route" that other divorce settlement options often take. Instead, couples work together to decide on the terms of their divorce. This includes making decisions regarding parental rights and responsibilities, splitting assets and all other aspects of a divorce agreement. The process varies from a simple kitchen table discussion, however, in that couples are assisted by a group of professionals. Both sides will be represented by their own attorney who is trained in collaborative divorce techniques as well as professionals such as financial consultants and therapists who will all work to get results that are in everyone's best interest.

In the article, the author argues that one of the biggest benefits of choosing collaborative divorce over litigation is being able to save money. The article states that the average cost of a litigated divorce is between $15,000 and $30,000. This is mainly due to the cost of attorneys' fees. In litigation, lawyers are going to court to fight for their clients meaning they will require a lot of time and resources to prepare. In a collaborative divorce, attorneys are used during the process but are not required to do any outside work beyond their initial collaborative divorce training. This can lead to lower overall attorneys' fees.

The article also discusses the length of time a divorce takes as a financial factor. In a litigated divorce there is no set timeframe and litigation can be drawn out for long as it takes; sometimes even years. Since litigation is based on contention and one party ‘winning' over the other, court battles can arise over the smallest issue requiring attorneys to bill additional hours.

A collaborative divorce, however, is usually made up of 6 to 10 meetings in which attorneys and their clients as well as financial or parenting professionals sit down to work out set goals. Though it can sometimes take longer and require additional meetings, the collaborative process allows couples to work on their own timetable. The more they are willing to work together and cooperate, the quicker the divorce process will be over with.

Finally, the article discusses how a couple's success with collaborative divorce is ultimately up to them. If they are able to work together to find solutions that are in the best interest of all parties, this divorce option can be very successful for them. In some circumstances, such as when the balance of power is uneven in the relationship or there is a lot of contention between the couple, collaborative divorce may not be the best option.

If you are considering divorcing in New Hampshire, you may want to consider a collaborative divorce. There are many benefits to this relatively new process. For more information about collaborative divorce, contact a NH family law attorney that specializes in collaborative law.

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