When there are significant assets involved in a divorce, the traditional courtroom process will likely become lengthy, expensive and contentious.
Collaborative divorce is a form of alternative dispute resolution that keeps you out of court and allows you control, privacy and other benefits not available in litigation.
About the process
Negotiation that eventually leads to a satisfactory settlement is the key to an effective collaborative divorce. You and your spouse and your respective attorneys work together to achieve the agreement. The process is transparent; the parties share pertinent documents and exchange information voluntarily. It is not uncommon for outside professionals such as accountants, financial advisors and child welfare specialists to join the legal team as needed to assist in resolving sticking points.
Benefits of collaborative divorce
Couples of all economic backgrounds appreciate the collaborative process, which is generally much less time-consuming and expensive than litigation. In addition to the ability to control the outcome, couples with a high net worth also appreciate the privacy this kind of divorce provides. For the children of the marriage, it is less stressful than a contentious, drawn-out court proceeding.
Choice of approach
You can rely on the collaborative approach for all or only part of your divorce. It depends on whether you and your spouse have already agreed to certain aspects of your settlement agreement or are starting the entire process from scratch. Because you can set the pace, engage in open discussion with your soon-to-be-ex and basically control the outcome with some professional help, you may find that collaborative divorce is an excellent option for ending your marriage and beginning the next chapter of your life.