When you are considering divorce, the second financial task is to decide which legal model to use – the preferred dispute resolution model of collaborative law or the litigation model.
The collaborative law process is a way for a couple to work together with their attorneys toward resolving conflict using cooperative strategies rather than adversarial techniques and litigation. The attorneys and clients sign an agreement that they will not go to court. If the process breaks down, the collaborative law attorneys must withdraw and the clients must retain new “litigation” attorneys. In this process, the attorneys get to use their best skills – namely the use of analysis and reasoning to solve problems, generate options and create a positive context for settlement.
You might think this is not a financial decision. You would be wrong. Your choice of divorce model is very much a financial decision. Based on my experience, couples that chose the collaborative model are those who preserved a greater percentage of their pre-divorce wealth.