There is a recent article from the Reuters news service that discusses the growing need for professional financial advice during the divorce process, specifically in the Collaborative and mediation processes. The article is directed to financial advisors as a potential niche service to new clients. What's really interesting is how divorcing couples are beginning to use financial advisors during the process. The article refers to the concept that the financial advisor has to look at the … [Read more...]
Jewish Divorce and Collaborative Law
Religious Jews, like Catholics, face a unique problem when divorcing: a civil divorce alone does not release them to remarry. The parties require a release by a properly constituted religious body before they are free to enter into another marital relationship. It has been the conventional wisdom in the past that these are matters of no concern to the civil courts; that the doctrine of church-state separation forbids intervention in these areas that are essentially of a religious … [Read more...]
Top 5 Mistakes in Refinancing During a Divorce
Because equity in a house is often one of the largest assets acquired during a marriage, that equity often becomes the focus of attention by both parties who are trying to favorably divide up their assets. In some cases, there will be little cash available to the parties unless they can find a way to pull out some of the house equity, and that's not always easy. As the parties and their attorneys and financial advisors research the possibilities, they often run into problems that require … [Read more...]
Taking the Time to Make Sound Decisions
Recently the Wall Street Journal ran an excellent article titled, "Splitting Up Nest Eggs." The caption read: "Battles over retirement assets increasingly are the most contentious - and error filled - part of divorce." The article is a good read. It is an interview with a prominent Atlanta divorce attorney. The attorney gives illustrative examples of the biggest mistakes of splitting up retirement accounts. But the most fascinating point is when the journalist describes how the division … [Read more...]
Why a Collaborative Case Starts Slowly
By the time a Collaborative case seems ready to start because both sides have agreed to use the process and both have hired trained Collaborative lawyers, the parties start to get anxious to get the case moving. This is a natural reaction to the discussions that preceded the commitment to use Collaborative Law. Those discussions almost certainly emphasized the positive aspects of the process and how they fit the special needs of the parties. With expectations set high, the parties are … [Read more...]
How a Collaborative Divorce Can Be a Gift of Love
Valentine's Day is upon us -- and for some couples, that's not necessarily good news. This article from Divorce Magazine points out that February 15 is one of the busiest days on a divorce lawyer's calendar. That should come as no surprise, given that Valentine's Day and its image of happy, romantic couples puts extra pressure on those couples who are no longer happy and romantic. As people begin to face the reality of getting divorced, they realize that it is not a simple process. The shared … [Read more...]
You Don’t Have to Be Crazy to Need a Mental Health Professional in a Collaborative Divorce
If you or your spouse is crazy, you probably need all the help you can get. But most people going through a Collaborative divorce aren't crazy -- choosing Collaborative is a very rational, sane decision, after all! Actually, almost everyone going through a divorce could use some professional assistance, but some need it more than others. In a Collaborative divorce, the parties experience the same emotions that are experienced in a litigated divorce, although hopefully less intensively. In … [Read more...]
Can a Lawyer Wear Two Hats?
In litigation, there is always a tension between trial and settlement. One of the biggest strategy challenges a lawyer faces in the litigation process is trying to be a diplomat and a battle leader at the same time. Essentially, it's trying to balance a diplomat's hat and a war general's hat on the attorney's head at the same time. In the litigation process, even if the parties are intent on settlement, the lawyer still has to in some fashion keep his or her "war general" hat on. One of the … [Read more...]
Dealing with Family Businesses in Divorce
We wanted to make sure this didn't escape your attention: Collaborative Law Institute of Texas board trustee Tracy Stewart, a financial professional and CPA based in College Station, wrote a great article for the AICPA Wealth Management Insider last month entitled "Family Business: Avoiding Divorce Disaster." The article details some key dos and don'ts when a family business must be factored into the financial equation for a divorce settlement. This can be a tricky aspect of divorce … [Read more...]
Collaborative Divorce: It’s Not Mediation or Arbitration
For many people, when they first hear about Collaborative Law, they think it must be similar to arbitration or mediation, two other processes some people have heard of. Although they are all three considered disputes resolution processes, they are very different. An arbitrator hears both sides and makes a decision, instead of letting the parties come to an agreement. It is very similar to litigation. A mediator is a neutral person working with both sides to try to reach an agreement. In … [Read more...]
