The Collaborative Divorce Process: Start to Finish

Signing a participation agreement

At the first meeting, the professionals and clients sign a participation agreement. This document explains client rights and responsibilities. It also protects against information gained during the Collaborative Divorce process being used against someone in the future.

Assessment

Early in the process, the team makes an assessment based on personalities, dynamics, and the matters at issue to form an overall strategy for the case.

Immediate Concerns

At the outset, some pressing problems call for rapid resolution, such as how to pay a pending bill or how much financial support to provide during the separation.

Residences and Residency

Some couples need space from each other in their own residence. Agreements can be made so as not to disadvantage the person who leaves the home. An interim plan for how to share time with the children can be made simultaneously.

Collecting financial information

Early on, the clients gather financial documents, create a budget and fill out a net worth statement.

Framework of the Law

Lawyers explain how the court usually addresses financial matters including assets, debt and support (noting that judges can vary widely in how these areas are decided).

Valuation and Separating Finances

A date is chosen for valuing bank accounts, stocks and retirement assets. At some point, the clients begin to separate their finances.

Parenting Plan

If there is a child specialist or facilitator, this person likely works with the parents to craft a parenting plan. (See schedule examples below.)

Negotiation

With all the important data gathered, clients can begin to negotiate their financial settlement (asset and debt division, spousal and child support, and extra child expenses).

Settlement Agreement

Once the negotiation is completed, a draft of the agreement is circulated for review, then revised and signed.

Filing for Divorce

After the separation agreement is signed, a lawyer prepares and submits other documents to the court so that the divorce can be finalized.

Exchange of Funds

A financial specialist or lawyer may assist clients in carrying out the exchange of money as outlined in their agreement. This may include submitting forms for a qualified domestic relations order (QDRO), which allows for divorcing couples to divide retirement assets without having to pay an early withdrawal fee.

A New Life

Once the divorce is completed, it’s time to recover and reorient toward embracing a new life. Meanwhile the Collaborative Divorce team members can remain available if issues arise relevant to parenting or to the separation agreement.