Divorce causes serious financial, emotional and family strain. When two people divorce, the lives of the couple divorcing, and anyone connected to the couple, are uprooted. When there are high assets involved in the divorce, it can be in the best interests of everyone, if a collaborative divorce approach is utilized. Such divorce filing is possible in Texas.
Collaborative divorce is not available in every state, but it is growing in popularity. Collaborative divorce is different from traditional mediation because it allows the parties to meet and work out their differences with a trained third-party before the court proceedings. This can help to ease the tension of the arguments that often happen in court. With regard to the finances, this type of collaborative law could help divvy up 401k’s, savings, or any debt currently owed by the couple.
Collaborative divorce law was put into effect in 2009 by the Uniform Law Commission. It’s intent was to make it easier for parties to discuss each side of the argument with an unbiased third party who is there to mediate and give advice. This advice should guide the parties and their lawyers to a swifter resolution. The law helps the mediator focus on breaking down walls between the parties, instead of just on the law itself.
Although divorce can be complicated and stressful, there are options for couples looking to part ways. Collaborative divorce is a great option, especially for monetary disagreements regarding money. It is important for a person to do research on their finances when preparing for a any divorce negotiation.
Source: Inquisitr, “Collaborative divorce continues to spread in the USA- welcomed by stress ridden divorcees,” June 29, 2014