Peaceful Parting

By Tracy B. Stewart, CPA, CFP, CDFA

Reprint from Today's CPA, May/June 2005

While she was traveling, Marilyn's husband, Jeff, canceled her credit cards. He also filed child endangerment charges against her. When she returned, authorities put her in a mental health care facility to protect her child. Marilyn was not insane, nor was she a danger to her child. Jeff was filing for divorce, and was legally positioning himself for control of their finances and custody of their young child.

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What is Collaborative Law?

The collaborative process is a form of dispute resolution which removes the “win at all costs” approach to traditional litigation. With the collaborative process, parties and their attorneys contractually agree at the outset to settle their disputes without going to court. Parties avoid lengthy—and costly—“discovery” by agreeing to disclose and exchange all information required to make sensible and fair decisions. Potential result: a less expensive, less emotionally destructive, and more dignified resolution for both parties.

When disputing parties enter into the collaborative process, they agree to

  • Communicate honestly
  • Focus on important issues
  • Discuss issues only in a conference setting
  • Arrive at a final settlement out of court
 

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