Michele Singletary, a columnist for the Washington Post, wrote the following column on September 11, 2024. Michelle Singletary is one of my favorite financial gurus as she delves into many of the financial problems that vex us and is very direct about how to help us help ourselves.
What I say to the first noted potential clients is that I, as a neutral financial professional, promise them they will know everything financially related to their divorce prior to any decision making. It is my job to lay out all the assets and debts and income and expenses in simple and understandable form to both clients and any mediator or attorneys. It is also my job to educate my clients about taxes, tax filing status, health and life insurance, Social Security, pension values, and the consequences of dividing assets that have tax related issues.
You have full support. Unlike in mediation, you have a lot of support and guidance throughout your Collaborative Divorce. A mediator is neutral, so he/she cannot advise you or advocate for either of you. The mediator should educate you about the law and can facilitate the conversation between you and your partner, but cannot stop you from making an uninformed or unwise decision. If you like the idea of mediation but feel that you would benefit from having your own lawyer’s guidance and support, Collaborative Divorce is the process to consider.
By choosing a Collaborative Divorce, couples are choosing an option that provides structure to support them individually and together. Even when they can’t talk to each other.
You might choose a Collaborative Divorce because you want to stay out of court, keep conflict to a minimum, and have control over the process. In a Collaborative Divorce, no one enters a courtroom.
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