When You’ve Got More to Lose: Collaborative Divorces With Significant Assets
When a marriage with significant assets ends in divorce, the splitting spouses can face an array of challenges that some other couples will never encounter. It may be even more difficult to decide between methods like litigation, mediation, and collaborative divorce. A collaborative divorce may present advantages over more traditional methods. It’s generally less stressful and less time-consuming than litigation—and it also tends to achieve a result that both parties find fair or acceptable. Not only that, but divorce coaches and financial experts are often involved, which means you’re getting well-rounded professional advice from multiple disciplines during the whole process.
Aside from the general benefits, how does collaborative divorce serve to address the particular issues you’ll find in a high net worth divorce?
It’s more private.
Executives, entrepreneurs, and other high net worth individuals may be especially concerned about the public nature of litigation. One disadvantage with litigating a divorce is that anyone can enter a public courthouse and listen in on your divorce proceedings. The collaborative divorce process on the other hand involves a series of confidential meetings held in private conference rooms. In other words, you won’t have to worry about members of the public overhearing your private business.
It’s more transparent.
When you’re dealing with considerable assets and property, the process of dividing your finances may seem daunting. Collaborative divorce allows you to bring in neutral financial experts to evaluate and appraise your assets. You can jointly retain financial planners, accountants, appraisers, and other consultants to advise and inform you on financial matters. You’ll both have to pledge full financial transparency, agreeing to disclose any and all information about the finances you own.
With professionals around the table, you’ll be better equipped to make cooperative decisions about asset and property division. In the end you’ll skip the high-conflict property division process you’d otherwise find in court, forego invasive trial tactics and requests—and leave with a series of decisions you may both find agreeable.
It’s less disruptive.
Significant assets can also often come with a high-stress lifestyle. With a busy work, community involvement, and social life, you not want to devote your time to the often unpredictable and potentially lengthy litigation process. Collaborative divorce, on the other hand, fits around you and your ex-partner’s schedule. You can generally set meetings at your own pace and focus as much—or as little—as you’d like on any particular issue. The collaborative process can also take your hectic lifestyles into account while creating a child custody and visitation plan.
When you decide to divorce, weigh your options carefully. To watch our Founding Attorney Meghan Freed’s full presentation on Choosing Your Approach to Divorce, click here. At Freed Marcroft, we have helped hundreds of people move forward to a better life and make informed choices about their divorce options. At our first step, the Goals & Planning Conference, we start by working through these questions with you to help you figure out your goals. If you decide that divorce is part of what you need to do to get you to the future you want, we can help you. If it isn’t, we will support you and help you figure out what you need to get you there instead.
Let’s keep you moving forward.
Click here so that we can send you a complimentary video where I discuss our first step at Freed Marcroft — the Goals & Planning Conference, why this process exists, plus her insights on how you can get started with us. Contact us today.