Collaborative Divorce: The Benefits of Neutral Financial Experts

While divorce in typical situations entails contentious and often difficult court processes, a collaborative divorce allows both parties to avoid the courtroom battles, choosing instead to work together towards a lasting and effective settlement. With the aid of their respective lawyers, the collaborative process can help couples avoid judge-imposed orders and emerge from the process with a more equitable and personalized agreement.

There are a wealth of benefits that go along with the collaborative divorce process—many of which we have detailed in previous blogs—but one of the most important may be the potential to utilize neutral experts. Collaborative law allows the parties involved to hire experts in specific subjects like finances and child psychology to help them make well-informed and fair decisions regarding their divorce settlement.

In a traditional divorce, both parties will call their own experts who will voice opinions meant to sway the judge in their favor. In collaborative divorce, the experts will be neutral and working to achieve the most equitable resolution to the disputes for both the divorcing spouses and their children.

Amongst these neutral experts, a neutral financial expert may play the most important role.

Who Is A Neutral Financial Analyst?

The couple can hire a neutral, unbiased financial analyst to helping resolve the impending divorce’s financial matters in a peaceable manner. Generally, couples will choose from a list of dependable financial experts provided by the attorneys. To ensure neutrality, the proposed financial expert must have never worked with either spouse, nor can they work with them at any point in the future.

Roles and Benefits of the Analyst in Collaborative Divorce

A neutral financial analyst is tasked with creating valid financial reports concerning the couple. He will prepare a list with all their assets as well as their liabilities, usually in two different documents. He will analyze both current and anticipated expenses for each party as well as their children (if any).

Furthermore, the analyst can serve as the link between the family and any external financial experts including pension experts, real estate appraisers, and mortgage brokers.

He or she can also help ensure both parties are equally knowledgeable about their finances. In some families, one spouse may handle all the finances, meaning the other spouse will be at a disadvantage in making financial decisions when a divorce occurs. The financial neutral can help ensure the less knowledgeable spouse fully understands the implications of all financial decisions made in the collaborative divorce process.

By utilizing a neutral financial expert, divorcing couples can help minimize battles over the financial aspects of their divorce, resulting in much more fair and reasonable outcomes and less resentment over financial determinations that tend to be inherent in traditional judgments such as court-imposed alimony.

If you are interested in learning more about the collaborative process, or you think Collaborative Divorce—along with the services of a neutral financial expert—could be right for you family, contact Landerholm Law today.

Written by Collaborative Divorce

Collaborative Divorce

Our passion is helping individuals like you resolve your divorce and family law challenges with as little stress as possible. We understand that this is a difficult time in your life and we strive to give you predictability and peace of mind throughout all legal proceedings. One of the key ways in which we deliver that experience is by customizing our approach to fit your exact needs.