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There are noticeable new trends in divorce that affect both the legal process and the financial strategies required to help clients move past it. These trends include an increased reliance on alternative dispute resolution (ADR) methods such as collaborative divorce and divorce mediation, increased usage of interdisciplinary teams and the emergence of divorce financial planning, a specialized application of the financial planning process. The divorce process involves to a large extent the untangling and subsequent division of assets and income. Since there are serious pitfalls and difficult decisions to be made, people going through divorce need expert financial advice. Divorce financial planning has emerged to help satisfy this need. (Click here to continue) In Collaborative Divorce, both parties retain separate lawyers and neutral financial specialists who advise them throughout the process and assist them in negotiations. Collaborative lawyers, however, are required to commit in advance to helping the parties reach an agreement and avoid judicial intervention. (Click here to continue) Divorce mediation is a process through which separating couples arrive
at a fair agreement which is acceptable to both parties. It is conducted
under the guidance of a trained professional, often a financial planner,
attorney or mental health professional, who helps the couple make their
own important decisions concerning their changing and uncertain future. (Click here to continue)
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