Among the members of Collaborative Divorce Houston are Neutral Financial Professionals. They are Certified Public Accountants (CPA), Certified Financial Planners (CFP) and Certified Divorce Financial Advisors (CDFA). They are all trained in the Collaborative Divorce process. Where possible, Collaborative Divorce Houston prefers to utilize the multi-disciplinary team approach. In this approach you and your spouse in your divorce hire a Joint Neutral Financial Professional to help you both understand and make informed financial decisions. Of course, always you will rely upon the legal advice of your Collaborative Divorce attorney.
By using a Joint Neutral Financial Professional, financial information is gathered efficiently. It is shared in a transparent way. Both you and your spouse possess the same information about your finances and can receive guidance on the options to divide the financial estate.
In litigation oftentimes the parties to the divorce do not save money. In fact each side hires his or her own financial professional. The financial process is duplicated on both sides. Understandably, this dramatically increases the expense. Unlike litigation, the financial process in Collaborative Divorce is not a battle of experts. Rather, in it the parties trust a qualified neutral financial professional to help them maximize the outcome so that both sides can win – meaning both sides get more of what they each want.
As a result of a trial in a litigation divorce, a party receives an award from the judge as to the property he or she receives. What the party exiting the divorce does with that property award is that party’s post-divorce homework. Until the litigation ends, a party does not know what assets he or she will be receiving. So, during the divorce, how can each party make a financial transition plan going forward as a single person?
In Collaborative Divorce your Joint Neutral Financial Professional will assist you in budgeting and cash flow analysis. You will be more likely to be prepared to make it financially after the divorce because, during the Collaborative Divorce process, a plan will be formulated that works for you to the extent possible.