While the world is experiencing an unprecedented time due to the COVID-19 virus, many things in our life have stayed the same – we are still dealing with our other daily life issues such as family, health, financial, emotional struggles and marital dissolutions that were present before the lockdown from the novel coronavirusm and which may be heightened during this time.
Many courts throughout the United States are closed and, due to their closing, litigated divorce cases have slowed or been put on hold.
If you and your spouse wish to move forward in your separation and do not prefer to wait until the all-clear sign is given and the courts are re-opened, there is another, better divorce option for both of you to explore: the collaborative divorce process.
When you and your spouse enter into a collaborative divorce, you both agree to stay out of court and work with your collaborative professionals to assist you with dividing the time each spousal spends with your children, support, the division of your assets and liabilities, and drafting your divorce agreement. A benefit of the collaborative divorce process is all meetings can be done virtually through video and phone conferencing.
In addition to each spouse having their own attorney representing their interests, another professional that may be on your collaborative team is a neutral financial expert. Neutral financial experts work with you and your spouse to help you understand your asset, liabilities as well as income division, along with any tax implications. They can discuss how each option will affect each spouse’s financial future, and they will assist you and your spouse by creating financial options to arrive at financial agreements.
A collaborative team has many benefits, and having a neutral financial advisor will help the murky financial waters become clear.
The accounting professionals at Los Angeles Collaborative Family Law Association (LACFLA) are experts who add value to the collaborative process in terms of specialized knowledge and increased efficiency.
Divorce is a difficult chapter in your life, but it can be a more respectful and peaceful process utilizing the collaborative divorce process. Contact LACFLA today to find out how collaborative divorce can help you during your separation and divorce proceedings.
Please stay safe and healthy!
Note: This information is general in nature and should not be construed as legal/financial/or tax advice. You should work with your attorney, financial or tax professional to determine what will work best for your situation.