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Why an Uncertain Economy Has Increased Collaborative Divorce’s Popularity

The popularity of collaborative divorce has seen a dramatic rise in the last few years for several reasons: its goal is to take less time than traditional litigation, it allows for certain levels of creativity when addressing sensitive issues such as alimony and splitting of marital assets, it provides confidentiality to the divorcing couple, and perhaps most important, it can be less expensive than other methods of divorce.

While divorcing couples disagree on many issues, they usually agree on the need to keep the costs associated with divorce to a minimum. Couples today are searching for a divorce process that is not only resolution oriented, (while still allowing their respective attorneys to be strong advocates for their clients) but also allows them to keep more of their assets in their pocket. For many divorcing couples, collaborative offers them the best chance to accomplish both goals!

Here are just three reasons why collaborative may cost less than traditional divorce:

  • Emails, texts and phone calls are often used as means of communication (instead of traditional mail correspondence) to expedite the process.
  • In cases where business holdings need to be evaluated, one forensic accountant can be used to create a condensed valuation report; this, along with only needing one neutral (vs. two advocates), can result in tremendous savings.
  • In cases where selling the marital home is not an option (e.g., when the mortgage is greater than the home's market value), collaborative law allows the attorneys to get creative; for example, nesting is a concept where the couple alternate parenting time in the marital home with another residence (small apartment/condo/elderly parent). Nesting saves money, time and most importantly, protects the children from additional disruption.

As financial professionals who focus on the collaborative divorce process, we have seen, first hand, how today's uncertain economy has increased collaborative's popularity by offering divorcing couples a way to end their marriage while minimizing conflict, maintaining confidentiality and saving money.

Rochelle Forster and Craig A. Hyldahl, CDFA offer securities through AXA Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC, offer investment advisory products and services through AXA Advisors, LLC, an investment advisor registered with the SEC, and offer annuity and insurance products through AXA Network, LLC. AXA Advisors and its affiliates and associates do not provide tax, accounting or legal advice or services. You should consult with your own tax and legal advisors regarding your particular circumstances. Individuals may transact business and/or respond to inquiries only in state(s) in which they are properly registered and/or licensed. R.I.C.H. Planning Group, LLC is not owned or operated by AXA Advisors or AXA Network PPG-91848(03/14)(exp.03/16)

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