Back to top

Jones & Company Blog

Click here to go back

What is Collaborative Divorce

Posted by Traci A. Malik Posted on Oct 20 2016

Collaborative divorce is a relatively new legal option that meets the needs and desires of many divorcing couples and their counsel and is an increasingly popular approach to handling your divorce or legal separation. When spouses or domestic partners get ready to file for divorce or legal separation, they may negotiate an agreement with professional help.

How does Collaborative Divorce Work?

This process is designed to assist the parties in working out their disputes rather than litigating them. When parties elect to utilize the collaborative divorce process, they can avoid some of the stress and emotional challenges of conventional litigation, with a team designed to minimize conflict and develop respectful and equitable resolutions.

In a collaborative divorce process, you and your spouse or domestic partner negotiate an agreement with professional help. You each hire specially trained collaborative lawyers who advise and assist you in negotiating the settlement agreement.

You meet separately with your own lawyer, and both clients also meet together regularly. Sometimes you and your spouse or domestic partner can bring in other people, like child custody specialists or accountants, to help you settle your case without having to go in front of a judge in a contested case.

Why Couples Choose Collaborative Divorce

Collaborative divorce is becoming more popular for couples who choose to end their marriages without the conflict and emotional anguish that can accompany more traditional divorce proceedings. It can also be a more cost-effective option for couples looking to minimize the financial impact of divorce. In addition, where children are involved, this simpler process can help minimize the emotional impact that more turbulent divorces can have on the children in a family.

What is the Accountant’s Role in Collaborative Divorce?

The collaborative team financial specialist works with the couple provide on-going, practical financial guidance, planning, support, and budgeting advice throughout the divorce process. They make sure that both parties have a thorough understanding of their current financial situation, and assist by gathering and organizing documentation and information relating to the parties' incomes, expenses, assets, and debt. The financial specialist will also educate the clients regarding the short and long-term economic consequences of settlement plans being considered so as to enable them to make fully informed decisions and choose what is most appropriate for their situation.

If you would like more information or a on collaborative divorce, contact Jones and Company CPAs P.A. at 727-845-4166 or visit online at www.JonesCPAs.com.