How can complicated financial issues be addressed using the collaborative process?
Discussion and resolution of difficult financial issues requires that the parties have a clear understanding of their financial information, are able to express and develop options that would resolve the issues, and then evaluate and choose the option that will serve the needs of each party individually and of the family as a whole. One of the advantages of collaborative practice is the potential for parties to work together with a financial specialist. Financial specialists, who have a background in accounting or finance, can assist the parties in gathering and understanding information concerning their assets and debts. They can also help the parties develop financial options for one or more of their financial concerns and then help the parties analyze the consequences of each option. This may include analyzing the tax consequences of certain choices and projected income and resources for each party in the future.
