Collaborative divorce can be helpful for parents, business owners

 Posted on July 09, 2015 in High Asset Divorce

One of the most stressful aspects of divorce in Illinois is figuring out how to divide shared assets and property. However, deciding how to handle the expenses associated with caring for shared children can be just as challenging. A collaborative divorce can help two people approach these issues in as cordial a way as possible.

When children are at the center of a divorce proceeding, collaborative divorce can be especially helpful for a couple in specific situations. One is if the couple's kids go to college. There is no law requiring that the parents pay for the kids' higher education; however, two divorcing individuals usually agree to share these costs. The second situation is if the couple's child has special needs. Caring for the child can be complex and demanding, but through collaborative divorce, the parents can work together to handle all aspects of the child's care.

Also, if two divorcing individuals own a business, they may benefit from the collaborative divorce process. This is because they can achieve a private settlement without causing panic to clients or investors. Even though the two people do not want to stay married, they can still be respectful of each other.

When two people in Illinois decide to end their marriage, going through a collaborative divorce may help to make the proceeding easier both financially and emotionally. Appropriate legal guidance may help these individuals pursue a settlement that benefits both them and their kids. If two people cannot handle matters such as asset division on their own, a judge will have to step in and make these critical decisions for them.

Source: philly.com, "Collaborative divorce can save time and money", Debra Denison Cantor and Ann V. Levin, July 3, 2015