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Divorce has a rightfully earned reputation for being an extremely stressful time for two individuals. The dissolution of a relationship can cost both parties involved an enormous amount of strain on an emotional and financial level. What many don’t realize is that professional and commercial investment partnerships can also be affected by divorce. There is a tendency during a dissolution of a relationship to sleight the opposite party or best them in some way. This is an emotional response to the break-up of a partnership and it inevitably leads to years of litigation and divorce proceedings, posing an extraordinary risk to the security of each party’s investments. Real estate represents a major factor that may be at risk in a divorce. It is a complicated issue due to real estate usually holding a high value on paper, but being a tangible asset, it is difficult to liquidate and Equitable Distribution may not make it entirely equal for each party. This can be avoided by exploring an exciting new approach: collaborative divorce.
Joryn Jenkins is a family law attorney with over 35 years of experience as a trial attorney. However, she stepped away from her background in litigation and pioneered the concept of collaborative divorce. As an alternative to conventional divorce proceedings, a collaborative divorce allows both parties to avoid trial and the costs associated with it by removing the courtroom atmosphere and strains of litigation. Open communication between the two parties is emphasized to “produce solutions that meet each parties’ needs” (Joryn Jenkins).
- 50% marriages end in divorce
- Spouse can be greatest investment risk; Equitable Distribution entitles spouse to roughly 1/2 of property and assets
- Conventional divorce can be costly and time consuming, taking between 1-3yrs and costing up to $100k in fees for each spouse
- Collaborative divorce proceedings take roughly 6 months and costs each party appx. $15k in fees
- Collaborative divorce can serve as a safety net for investments and financial future in the event of a dissolution of partnership
- Collaborative divorce aims to preserve the assets of each party and to mitigate costs of divorce
You can reach Joryn at http://openpalmlaw.com/