When individuals pursue a divorce, there are many terms they might not be familiar with, including “equitable distribution” or “collaborative divorce.” Another common term spouses hear is the “established standard of living.”
How can you prepare for a collaborative divorce?
Getting a divorce does not necessarily mean having to go to court. Fortunately, there are now several options that spouses have to resolve their divorce outside of court, such as a collaborative divorce. Collaborative divorce is a process whereby the parties agree in writing not to litigate their case in a court of law, but rather agree to resolve the marital issues through an open process often involving multiple sessions and meetings between the spouses, their attorneys, and other agreed upon neutrals such as a financial expert, divorce coach, and others helpful to the process of resolution and collaboration.
My dad left me the money, isn’t it mine?
When two people walk down the aisle, they don’t anticipate going from “I do” to “I don’t.” Still, divorce happens and absent a pre-nuptial agreement (and sometimes, despite one), asset division can and does often become contentious.
