Divorce and Money: Collaborating to develop a resolution

We all know divorces evoke many emotions and stress, both from the financial perspective and the heartaches of the broken relationship. Couples who may not want to endure litigation may opt to hire professionals to help them through the process of working together to reach a mutually acceptable agreement as to the divorce matters, which is referred to as Collaborative Divorce. Some couples will do this because they are aware of the large sums of money that is sometimes spent in traditional litigation, while other couples may opt for these measures because they just want to avoid the ugly confrontations, lack of privacy, and sometimes publicity of litigation and, instead, come to a solution in a manner that is best for their children and families.

More importantly, I think, according to my understanding, is that during the collaborative divorce process, couples are given the tools to communicate more effectively with each other, which helps those husbands and wives who have to continue to raise children together after they are divorced.  It is also my understanding from attorneys practicing in the collaborative divorce arena that the cost of the divorce in the collaborative model is less than that of the litigation model and there is more ability to develop creative resolutions to issues.

I recently completed the collaborative divorce training necessary to be hired as the Financial Professional on collaborative divorce teams.  The Financial Professional plays an important role in that they help identify the couple’s assets and value them, help quantify the estimated future expenses of the parties, provide scenarios as to distribution of the assets and cash flow analysis for spousal and child support.  I am looking forward to applying my 10 years of matrimonial experience [providing business and degree valuation, forensic accounting, litigation support, settlement negotiation and other consulting and expert services] in the collaborative model.

Check out these interviews by Ann Curry on the Today Show and by Phil Bayly on NewsChannel 13 about Collaborative Divorces.

Pamela Wickes
Pamela Wickes
For 20 years Pam has provided diversified accounting services, which, since 2004, have been focused in a wide variety of forensic accounting matters. Meet the Forensic Lady, Pamela Wickes, CPA, CFE, CFF, ABV.

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