Role of a Financial Professional in Collaborative Divorce
Once the Collaborative Divorce team has been selected the attorneys will know of any issues that require immediate attention; such as a temporary parenting plan or the desire of one party to move out of the marital residence. Resolving these issues without a six-way meeting will be explored but if that meeting is needed it will occur.
Gathers financial documents
If there are no immediate issues to be resolved, or they have been resolved, time will be taken for both parties to locate and give all the mandatory disclosures required by the state to be delivered to the financial neutral.
The neutral will use this information to prepare an asset spreadsheet. S/He will prepare the parties separate financial statements and prepare budgets for each party’s household.
When this has been accomplished the first six way meeting will be held. This practice assures that all the needed documents will be at hand for use by the parties and professionals.
Attends all meetings
The financial professional attends all meetings and adds their expertise to the negotiations. Additional spreadsheets will be prepared that illustrate the different settlement proposals suggested by the parties and their attorney’s.
One party is usually ’more savvy’ when it comes to finances and the financial professional will educate one or both of the parties regarding their financial position.
The financial neutral will prepare all financial documents that relate to child support and financial exhibits that will be attached to the completed Separation Agreement.