Collaborative Divorce - When Couples can Agree to Disagree

My colleague Don Vanarelli has a great post about what to consider when entering into a collaborative divorce.  I think of a collaborative divorce as when reasonable people have determined for whatever reason that the marriage is no longer working, and they are willing to work together to create a win-win situation for themselves in light of the changed facts.   Other advisors that will be involved include matrimonial attorney on both sides to represent each party (even though it is collaborative it needs to be fair), a financial planner to do the tire-kicking of if the split of the pie will support both parties lifestyles, and a perhaps a counselor to act in a mediator role.

My colleague Jody D'Agostini introduced me to the concept of collaborative divorce through her experience with it from the financial planning side.  She has a great interview with Fox 5 News about how this approach can save money and protect the family from devastating emotions.

For those considering a divorce, a collaborative divorce approach may work for you - or it may not. Before moving forward with anything you need to get your own independent legal advice about your situation.  This is  particular sensitive with seniors as if Medicaid deems that you have "given away" too much in the divorce, they may treat it a transfer that creates a penalty period.