It’s a common saying that marriages are made in heaven, but why then in most cases they culminate in divorce. In accordance with the U.S. divorce statistics, separation rate in the nation is very near to the dreadful figure of 50 percent. While it’s true that a whole lot of marriages are unsuccessful these days, not all marriages fail for the similar reasons. One of the biggest issues in the lives of married couples that finally result in separation is “money”. The craze for money is at the root of all types of evil, and it’s undoubtedly the main reason behind quarrels, fights, and divorce filings. Impulsive spending habits and frequent arguments over money may lead to misapprehensions and poor communication between married couples. However, the fact remains that unscrupulous use of credit cards and impulsive shopping can easily lead a couple into a sea of credit card debts. Under such circumstances, a collaborative divorce process could be used to get rid of your debt problems.
Divorce is mostly an emotional procedure filled with perplexity, legal hassles and court dates. It might also prove to be financially exhausting for both the partners involved. In a majority of the cases, couples can jointly agree to conditions without the expense and time a divorce court procedure requires. This is a court procedure in which a divorce agreement is settled out of the court. There’s a separate legal counsel for each of the parties, and instead of a judge deciding the terms, both the parties take a decision over a jointly agreeable resolution.
Using the collaborative process for resolving complicated financial issues
In order to resolve their difficult financial problems, both the parties need to understand their financial position, are capable of expressing and developing alternatives that would solve the problems, and then select the option that’ll serve the requirements of each party separately and of the family as well. When it comes to collaborative practice, one of the big advantages is that, both the parties work together with a financial consultant. Financial experts who have experience in finance or accounting can help the parties in collecting and comprehending information about their debts and assets. They may also assist both the parties in developing monetary options for their multiple financial anxieties and then help them analyze the outcomes of each alternative. This could comprise exploring the tax consequences of some preferences and expected earnings and resources for each party in the upcoming days. If required, other experts might also be involved to offer assessment services, business evaluations, or other exceptional services that’ll facilitate both the parties, their financial consultant and collaborative attorneys recognize and value their resources. Once the parties get sufficient information regarding their economic situation and the choices on hand, their collaborative attorneys will help them in negotiating a suitable resolution plan.
Ethical considerations
The International Academy of Collaborative Professionals offers a regular set of values, ideologies and principles to guide decisions and behavior for collaborative experts. Each of the collaborative attorneys is supposed to maintain certifications necessitated by their profession. Also, collaborative professionals need to keep their clients informed regarding the privacy necessities and practices in the collaborative procedure which require open declaration among the collaborative professionals.
