Using Collaborative Law Techniques Might Save Money
A divorce in British Columbia is not unusual. In fact, around 40 percent of all marriages in this country end in divorce. However, the specifics of each divorce are unique, because no two marriages are exactly the same. That being the case, there is more than one way for a divorce to proceed. For those who can, using collaborative law instead of litigation might be a time and money saver.
Time spent in a courtroom can become expensive. Not everyone can avoid it, but those who can may find they have saved money and frustration. By working together, two spouses may be able to sort out issues like asset division more quickly and with a more satisfactory result than might come out of a judge’s ruling.
For those with medium to large amounts of assets, arguing over their value can also be a waste of time. Professional appraisers can do the job with accuracy, allowing the two parties to more easily go about dividing the assets. Taking time to learn which assets are marital and subject to division is also a time saver.
Often, prenuptial agreements are signed before getting married, especially by those with greater than average personal worth. Generally, the agreement will be adhered to, but it could still be challenged by either party. A judge could set the agreement aside if a couple’s financial situation has changed significantly for the better or worse since the marriage began.
Life won’t be the same after a divorce, but it doesn’t have to be unrecognizable. Using collaborative law techniques to settle issues might leave more money to divvy up, and leave each person with a more agreeable slice of the marital pie. A lawyer familiar with alternatives to litigated divorce in British Columbia can help a man or woman through the process.
Source: The Globe and Mail, “Note to wealthy people considering divorce: Stay out of court“, Danielle Boudreau, March 20, 2017