Collaborative Divorce on CNBC
CNBC recently published an article on their website about Collaborative Divorce – “Collaborative divorce can ease emotional, economic stress” by Deborah Nason. It cites several Collaborative professionals, including Ross Evans, President of the International Academy of Collaborative Professionals (IACP).
The article included several interesting research findings, including that 58% of Collaborative cases settle in less than 9 months, and that the average cost of a Collaborative case runs between $17,800 and $25,600. Costs for litigated cases were estimated to run three or more times that amount.
“Working within complete transparency can minimize the legal fees because it makes your expectations realistic,” said financial advisor Lisa Gresham, founder of Equitable Divorce Solutions. “You’ve removed the unknown, and you’re more effective in your negotiations and your use of time because you’re not going back and forth.”
I also liked a quote about the difference Collaborative process makes for clients post divorce:
“You can tell who’s gone through the collaborative process vs. litigation,” said Amy Wolff, certified financial planner and owner of AJW Financial, who specializes in the financial issues associated with divorce. “The clients who have used the collaborative option emerge from the process more ready to focus; they can bounce back more quickly.” Wolff, who splits her time evenly between being a traditional financial advisor and what’s termed a “financial neutral,” added that “the ones who went through litigation seem worn out and exhausted; they often need a year or so to recover before they’re able to focus.”