Collaborative Law Can Help You Navigate Complex Divorce Financial Concerns

 Posted on July 16, 2021 in Divorce

The divorce process varies dramatically from couple to couple. A young couple who does not own significant assets and does not have children will typically have a much easier divorce than a couple with considerable property, complex assets, or contentious child-related issues. If you or your spouse owns a business or professional practice, significant retirement assets, real estate, or investments, or if your financial situation is otherwise complicated, you may want to consider a collaborative divorce.

Advantages of Using Collaborative Law to Resolve Divorce Issues

A collaborative divorce is one in which the couple agrees to work collaboratively with attorneys and other professionals to resolve divorce matters without going to trial. In a divorce utilizing collaborative law, each spouse hires an attorney sufficiently experienced in collaborative law. The spouses and their lawyers sign a “collaborative agreement” promising to:

• Freely exchange necessary information and documentation, including financial documents

• Work together toward practical solutions

• Keep the case out of court

If you want to avoid contentious divorce litigation, but your divorce case involves complicated legal or financial concerns, collaborative divorce may be right for you.

Including Financial Professionals in Your Collaborative Team

Collaborative divorce is often especially useful for couples with complicated financial circumstances because the collaborative team can include financial experts such as business valuation experts, appraisers, accountants, and tax professionals. These professionals also sign the collaborative agreement and promise to work cooperatively toward a resolution. Collaborative law can help you settle property division concerns, debt allocation, spousal maintenance, and other concerns in a pragmatic, peaceful manner. Many parents choose to settle their divorce using collaborative law so that they can stay on good terms after the divorce for the sake of their children. Unlike a divorce trial, the collaborative divorce process also allows you to keep discussions confidential.

Contact a Farmington Hills Collaborative Divorce Lawyer

If you and your spouse own a business or other complex assets, collaborative divorce may be the best way to resolve property distribution and other financial concerns. To learn more about the benefits of collaborative law and discuss whether this option may be right for your unique situation, contact the Novi collaborative divorce lawyers at Elkouri Heath, PLC.

Family law attorneys Susan Elkouri and Symantha Heath understand that divorce does not have to be a contentious courtroom battle. Our team can protect your rights and help you resolve divorce concerns without adding unnecessary contention and stress to the divorce process. Call our office today at 248-344-9700 for a free, confidential initial consultation.

Source:

https://www.legislature.mi.gov/documents/2013-2014/publicact/pdf/2014-PA-0159.pdf