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Should collaborative law be used in high asset divorce cases?

The term “collaborative law” means more than just a couple that is willing to work cooperatively to settle their divorce. It refers to a legal process of ending a marriage that is different from conventional litigation.

The collaborative law process involves resolving divorce issues without going to court, which means preserving the dignity of both parties and reaching a resolution that both parties are happy with.

The out-of-court requirement of the collaborative law process is formal, and it requires the parties and their attorneys to sign an agreement stating their commitment to settling the divorce outside of court. However, if the collaborative process is unsuccessful, then the parties have the option to pursue litigation with different representation.

At this point, you may be thinking: Sure, this sounds great, but does it work? What if my divorce involves a lot of assets? Don’t I need the court involved to make sure I get what I am entitled to?

The collaborative law process does work, and it can be very effective at resolving high asset divorce cases more peacefully and less expensively. As most people know, litigation can get extremely expensive, but the collaborative law process can help the parties preserve their wealth so that there is more to go around.

Additionally, the collaborative law process has the added bonus of settling the divorce confidentially, which means your financial and personal information stays private.

Litigating in court means that most of the documents that are filed become public record. Many high-asset individuals are very unconformable at the thought of disclosing financial information as well as personal details that could embarrass the parties or their children.

Finally, the collaborative law process often involves a team approach, involving financial professionals who can make sure that marital assets are valued and divided fairly and accurately under the law. This kind of transparency helps the parties to avoid bitter court battles over valuable assets.

Keep reading to learn more about the collaborative law process in Texas.

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