On behalf of Kathryn Wayne-Spindler & Associates, PC posted in Property Division on Thursday, April 2, 2015.
For most Michigan residents, getting divorced is just as much of an emotional event as it is a financial one. When two individuals decide to dissolve their marriage, they may be at a loss regarding how to proceed with the division of assets in as harmonious of a way as possible. For those who wish to avoid the potentially contentious nature of divorce litigation, collaborative divorce may be a wise option.
During a collaborative divorce, the goal is for two divorcing spouses to work together to reach a settlement that pleases both sides. This is different from litigation, where each party is primarily focused on what he or she can get out of the divorce. In addition to involving legal advisors, the collaborative divorce process also involves other team members who can help a couple to sort out issues, including accountants, real estate professionals and even psychologists.
Collaborative Divorce can be less stressful
In addition to being less stressful, a collaborative divorce can be more cost efficient than litigation because parties often have joint experts. For instance, instead of the wife and the husband hiring their own separate accountants to value a jointly owned business, they can rely on one accountant on whom they both agree. A financial expert who takes part in a collaborative divorce can help spouses to see how various financial arrangements may play out in long term as well.
The word “divorce” often carries a negative connotation because of the conflict and stress typically associated with this type of family law proceeding. However, a collaborative divorce can make the marital dissolution process more seamless for Michigan couples, especially when assets need to be divided. Understanding one’s legal rights during a collaborative divorce may help one to make decisions with his or her spouse that will be mutually beneficial for years to come.
Source: dailyrecord.com, “New way to divorce taking root in NJ“, Lorraine Ash, Feb. 22, 2015