According to Forbes, the collaborative divorce process avoids one of the biggest drawbacks of a traditional case, which are the financial pitfalls that come along with a contested litigated divorce.
One of the things that clients struggle with the most during their litigated divorce is how to make good financial decisions when emotions are running high. In a litigated case, you can feel behind the eight ball if one spouse is surprised by the divorce and the other spouse has been planning the separation for a period of time. An untimely court filing can leave the opposing spouse in a wake of emotional turmoil. This emotional turmoil impacts the ability to make solid and rational decisions regarding issues that would otherwise be straightforward to the court.
According to Forbes, the collaborative divorce process can avoid the risk of financial ruin that can be caused by litigation. The process is more dignified, private, and less costly than a litigated divorce.
In a collaborative divorce, spouses negotiate an acceptable agreement with professional guidance and support. The parties utilize a trusted team of experts to assist the couple in making good financial decisions, while minimizing emotional turbulence in the divorce process.
Good financial decision-making and raw emotions rarely mix well, which is why the collaborative framework is so valuable. The collaborative process sets spouses up for success by providing them with trusted experts to help them make good financial decisions and help them manage their emotions in an open and supportive environment.
To read the entire Forbes article on how collaborative divorce avoids the financial pitfalls of divorce, please click here.
By: Angela Lennon, Partner at Koenig│Dunne, PC, LLO at www.koenigdunne.com.