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Divorcing couples work together to increase financial stability

In Massachusetts, couples who decide to get divorced may face financial instability after their divorces are over. Some couples are taking a new approach in their divorces to make certain that both spouses will be financially stable following their divorces by working through a collaborative process.

People who are getting divorced may work collaboratively with a team of professionals, including divorce lawyers, financial planners, licensed mediators and others. The professionals work together to look at the property divisions more carefully with the people. Instead of the people concentrating on who gets the vehicles or homes, the professionals help them to consider the financial impacts of medical and automotive insurance policies and who will be protected.

By taking a more analytical look at the potential impacts of different financial aspects of their divorces, people may be better equipped to negotiate with their former spouses with the help of the licensed mediators. Working through their divorce issues in a collaborative process may help both spouses to emerge from their divorces with more financial stability and without having to engage in a long and expensive court process.

The property division in a divorce is often highly contentious. People who are ending their marriages may experience heightened emotions. Having the help of divorce lawyers who are experienced in the collaborative divorce process may help people to review their finances from a more analytical perspective. This may help them to understand the financial impacts different types of property division scenarios may have on themselves as well as on their estranged spouses. Having a clearer understanding may assist people in negotiating settlements that are fair and that won’t leave either spouse struggling after the divorces are final. Reaching settlements may also help people by allowing them to have more control over the outcome rather than leaving the decisions up to the court.