Collaborative law can lower legal costs
As collaborative law professionals, we see that a collaborative approach to divorce can result in all kinds of benefits, from decreased emotional strain to more practical advantages like minimizing cost. Most recently, financial publications have been drawing the public’s attention to the money side of collaborative law, giving evidence that it can be the most cost effective route for a divorce.
Last week, Geoff Williams from US News Money wrote, “For couples ready to part ways, a collaborative divorce is a strategy taken by those who want to avoid the slash-and-burn route that divorces often take. It’s the concept that you were partners – even if not good ones – throughout your marriage and you should be able to end it together as well, deciding how to split assets and how the co-parenting should work out in a way in which neither party feels too disappointed when it comes time to sign the divorce papers.”
Successful collaboration must include committed professionals
Williams goes on to talk about the potential for thousands of dollars in savings if the collaborative divorce is successful, but stresses that the lawyers involved need to be committed to the process and also have the knowledge and experience to achieve a resolution. Sometimes attorneys will agree to a collaborative approach, but don’t necessarily have the skills needed to be successful.
David Rasner, co-chair of the Family Law Group with Fox Rothschild LLP in Philadelphia, said, “Lawyers are either cooperative and goal oriented or not.”
At Collaborative Practice Toronto, we provide resources for collaborative professionals, ensuring and they are properly equipped to guide families through this process towards resolution.
Wealth doesn’t have to mean court
The New York Times’ Paul Sullivan recently wrote about how affluent families should consider collaborative law as a way to avoid lengthy and expensive court proceedings.
Sullivan writes, “‘Spouses are assisted in coming up with their goals,’ said Tracy B. Stewart, a certified public accountant in College Station, Tex., who works on collaborate divorces. ‘They agree on the value of all the property. Then, we generate options for each piece of property and brainstorm how best to divide these things so they both end up with a secure financial future.’”
It is a misconception that collaborative law is only for simple divorces that don’t involve large amounts of financial planning. No divorce is simple. It’s an emotionally trying time and working through this process with as little conflict as possible is, in our experience, beneficial.
If you would like to learn more about this legal method, please visit: What is collaborative practice? We’ve got a great selection of experienced professionals from all over the GTA.
