How can a collaborative divorce help protect my finances?

How can a collaborative divorce help protect my finances?

collaborative divorce couple signing papers

Going through a divorce is often challenging and costly. Couples often face certain financial issues that make them hesitant to dissolve their marriage. However, many alternative divorce options can help them protect their finances when pursuing a divorce. Many couples that are willing and open to mediation tactics may decide to pursue a collaborative divorce. Please follow along to learn more about this type of divorce process and how a seasoned Nassau County Divorce Attorney can help you today. 

What is a collaborative divorce?

Essentially, a collaborative divorce is a legal process that allows couples to negotiate all the terms of a divorce without litigation. Couples work together to resolve their disputed issues. When couples choose to pursue a collaborative divorce they will use mediation and other negotiation methods to reach a mutual agreement on the terms that will apply to the termination of their marriage. This type of divorce process helps couples avoid drawn-out divorce proceedings which ultimately saves couples time and money.

How can pursuing this type of divorce help me protect my finances?

By choosing to pursue a collaborative divorce, couples protect their finances because they give themselves full control and power over the terms that will apply to the termination of their marriage. When a couple faces the tedious and long process of litigation, the judge has control over how marital property will be divided during the process of property distribution. New York is an equitable distribution state which means any assets accumulated during the marriage will be split fairly between both parties, not necessarily an equal split. When a couple does not have control over the division of assets, it can lead to an unfavorable conclusion. One spouse may end up with way less than they believe is fair. When divorce is imminent, a couple should consider a collaborative divorce as it can help them protect their finances and overall financial security.

Is this type of divorce right for me?

It is imperative to understand that every divorce is unique, so some couples may benefit more from a certain divorce process than others. However, if a couple is willing to work together to reach a mutual agreement on the terms that will apply to the termination of their marriage, they can benefit from choosing a collaborative divorce. Understandably, it can be difficult for couples to put their difference aside. However, in the long run, pursuing a collaborative divorce can help couples avoid significant legal fees. When pursuing any type of divorce, it is important to have the right legal representation. An experienced attorney will help you decide which divorce route may be the best option for your specific situation.

For more information on collaborative divorces, speak with an adept Nassau County divorce attorney. Our firm is committed to helping our clients protect their hard-earned assets.


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