Collaborative Divorce: A Less Combative and Stressful Approach to Divorce

Divorce planning, while not a pleasant topic, is one that cannot be ignored. The statistics show that 45-50 percent of first marriages and 60-67 percent of second marriages are expected to end in divorce. No one wants to be one of these statistics, but if you should find yourself in that position, it is important to take care of yourself both emotionally and financially.

Many people are not aware of a new type of divorce option called Collaborative Divorce; an approach used to make divorce less combative and stressful. Collaborative Divorce is a way for you and your spouse to dissolve your marriage amicably outside of the court system.

Divorce doesn’t have to be hostile arguments and fighting over property. In a Collaborative Divorce, you and your spouse each hire your own attorney and rather than both of you also hiring your own financial advisor, you would both work with one un-biased financial advisor. By working with the same advisor, that person can keep both of your best interests in mind, thus helping to eliminate the competitive nature that comes with having two separate advisors.

More specifically, your financial advisor gathers, analyzes and evaluates financial data that has been provided to him or her by all the parties involved and helps them reach a settlement that makes the most financial sense.

Mutual respect, civil communications, and mutually acceptable solutions are fundamental to the collaborative approach to divorce. When respect is given and received and when the parties approach the dissolution process looking for a “win-win” solution, then negotiations are more productive and agreements can be reached more easily.

If you or someone you know would like more information about all of your options related to this topic please contact me at (813) 908-2701 or at jeannie.holliday@investmentcenters.com. As a Certified Divorce Financial Analyst, I am qualified to answer all of your questions.

The top 5 reasons for hiring a Certified Divorce Financial Analyst (CDFA™) during the divorce process:

1. Financial analysis conducted early in the divorce process can save time.
2. A CDFA™ can help their client save money during the divorce process
3. A CDFA™ can help their client to avoid long-term financial pitfalls related to divorce agreements
4. A CDFA™ can assist their clients with developing detailed household budgets to help avoid post-divorce financial struggles.
5. Using a CDFA™ can reduce the amount of apprehension and misunderstanding about the divorce process.

The author of this article is the co-owner of Independent Financial Services in Land O’ Lakes. With over 100 years of combined experience among its dedicated staff, Independent Financial Services provides a variety of financial services to its clients, including comprehensive financial planning, ongoing active money management and investment management. The all-women firm specializes in four key areas: women and investing, retirement planning, divorce planning and small business solutions. Visit www.independentfinancialservices.net for more information.

Due to regulatory constraints, we are unable to accept online comments on this article. However, if you have any questions or would like to discuss issues brought up in this article, feel free to call or e-mail Jeannie directly.

Investment Centers of America, Inc. (ICA), member FINRA/SIPC and a Registered Investment Advisor, is not affiliated with First National Bank of Pasco or Independent Financial Services. Securities, advisory services and insurance products offered through ICA, and affiliated insurance agencies are *not insured by the FDIC or any other Federal Government agency *not a deposit or other obligation of, or guaranteed by any bank or their affiliates * subject to risks including the possible loss of principal amount invested.