Collaborative Divorce is a new ‘no court’ divorce solution for couples who have decided to separate or end their marriage without having to litigate the case. The collaborative process creates a safe environment allowing the couple to express, negotiate and resolve conflict without having to go to Court. The system is designed to help you work through difficult property, support and child-related issues in an efficient, streamlined manner, while at the same time protecting your rights.
Collaborative divorce focuses on settlement. It has many advantages including you and your spouse will control all of your decisions, your time and energy will be utilized more effectively, potential to have a better co-parenting relationship in the future and help conserve emotional and financial resources. In addition, the collaborative process is more private than the litigation process, less destructive for family owned businesses and often times creates a better atmosphere for creative brainstorming. By creating an atmosphere of open communication and cooperation, the Collaborative Law process allows both parties to preserve their dignity while they work toward a settlement that works for everyone involved.
The Collaborative process allows both parties to retain their own Attorney. The parties enter into a participation agreement that serves as a contract ensuring the lawyers will act solely as settlement counsel. The collaborative process primarily entails informal discussions and joint meetings for the purpose of settling the issues. The process utilizes informal discovery, such as the voluntary exchange of documents and the engagement of agreed upon neutral experts and other collaborative professions. A Collaborative divorce is usually made up of a ‘collaborative team’. Besides the Attorneys, the team may include a mental health professional, a child specialist and a financial expert.
Lara & Weidman Forensic CPA’s P.A. are retained as neutral financial experts in the collaborative process. We have the specialized skills, education and training to assist both parties with unbiased financial advice.
As financial experts many of the assignments we may complete for you include:
- Preparing a balance sheet, this includes a comprehensive schedule of your assets and liabilities as of a certain date
- Creating a standard of living or lifestyle analysis
- Preparing alimony and child support calculations
- Calculating the value of a business interest(s)
- Preparing each spouse’s available income
- Trace various accounts for non-martial and marital assets including retirement and 401(k) accounts
Our assignments or calculations are often in the form of various charts, graphs, spreadsheets or flowcharts.
The financial expert in a collaborative divorce has many benefits such as conserving cost for both parties, educating all parties on financial issues, allow for practical solutions and resolve financial matters leaving both parties satisfied.