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Will collaborative divorce work for a high-asset couple?

Perhaps your marriage has lasted for many years, but growing differences have caused you and your spouse to consider divorce as the only solution for your unhappy union.

However, you may dread going to court for various reasons. If that is the case, why not consider collaborative divorce?

Collaborative divorce explained

With the guidance of your respective attorneys, you and your spouse will collaborate in arriving at a divorce agreement that is satisfactory to you both. You and your attorneys will meet in a professional office environment outside of court. Once you reach an agreement, the legal procedure is simple and straightforward without the need for litigious hearings.

A look at the benefits

In a collaborative divorce, you and your spouse will exchange all information voluntarily and agree on a procedure that will simplify your divorce and cut down on the expense. This kind of approach allows you and your soon-to-be-ex to negotiate a mutually satisfactory settlement using legal guidance and support.

It is not uncommon for couples to bring in outside professionals. For example, in a high-asset divorce, you may benefit from the expertise of an accountant, a financial advisor and a child custody specialist. As part of the collaboration involved, you and your spouse will develop a process for making post-divorce decisions, especially with respect to raising your children.

A good foundation

As compared with litigation, collaborative divorce is a private process, which is important to many people. If you and your soon-to-be-ex feel you can work out your differences together and avoid litigation, collaboration presents a sound and civilized way to approach divorce. Even if you have significant assets, this may be the best process by which to end your marriage, minimize stress for the two of you and your children, and make the adjustment to a new stage in life easier for everyone concerned.

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