The Collaborative Divorce Process allows families to control their own outcome while staying out of court in navigating through their divorce. Working together as a team, each party hires their own family lawyer, preferably collaboratively trained, to assist them during the process. In addition to the Collaborative lawyers, the team can also include a neutral financial professional and a neutral mental health professional to guide the team through the financial and emotional aspects of the divorce process. The Collaborative Process is fully out-of-court and focuses on the interests of the parties and the future of the family after the divorce is final.
Few people enter a marriage with the anticipation that it will end in divorce. There are many reasons to protect assets and income in the event of divorce or even death. A Prenuptial Agreement can save time, money and stress if a divorce should occur. In negotiating the terms of a Prenuptial agreement, both parties should hire legal representation to ensure the validity of the Agreement. Both parties must be open and honest with the exchange of financial disclosure. Negotiating the terms of a Prenuptial Agreement can be very emotional.
The Collaborative Process addresses all of the components above. The Collaborative Process provides for both parties to be represented by independent attorneys; the team will hire a neutral financial professional who will gather all of the financial information to be presented to both parties; and a neutral mental health professional will be available to deal with the emotional aspects.
If a couple is already married, a Postnuptial Agreement may be a way of avoiding an immediate divorce. Utilizing a Postnuptial Agreement, couples can decide on a divorce agreement that will go into effect if the marriage does not continue. A Postnuptial Agreement, while keeping things in place in the marriage, can save couples time, money, and stress if they enter into the divorce process in the future.
For all of the reasons set forth for utilizing the Collaborative team for Prenuptial Agreements, it works equally for the negotiation of the terms of a Postnuptial Agreement.
Now, more than ever, people are choosing to live together without getting married. They even decide on raising families without being married. Where there are laws in place providing for the rights and responsibilities of married couples, there are very few laws protecting individuals who live together, but do not get married. The only laws would relate to dealing with children from such a relationship. Therefore, Cohabitation Agreements are highly encouraged to provide legal protection to all parties involved. Without a signed written Cohabitation Agreement in place, parties are finding they have no enforceable rights, even based on verbal promises that may have been agreed upon.
Cohabitation agreements deal with what happens in the event of an actual separation. The agreement deals with dividing accumulated assets and the payment of accumulated liabilities that may only be in one of the party’s names. Although there are no technical requirements, it is advised that both parties are represented and for there to be a full disclosure of financial information during the process. And because of the nature of the situation, it can get emotional in negotiating the terms. This is simply another life planning agreement that would be best with all of the components of a Collaborative Team being in place for negotiations and even upon separation.
