Date of Separation becomes an issue when you are litigating your divorce. It surprises me how many times men and women who were so smart to build successful businesses and accumulate wealth, invest in big law firms litigating every issue; and they don’t balance potential fees and costs or the risk of loss and the amount of gain or likelihood of any gain. Perhaps they don’t really want to divorce. Why else do they pursue years of entanglement with their spouse?
Well, for people who do not want to potentially destroy their wealth and family because of their need to prove themselves right, I recommend you contact me to consider your other options before you contact big law firms for a litigated divorce.
Litigation is about competing and taking positions and Collaborative Process is about collaborating in favor of familial and financial interests.
Emotions drive parties to sacrifice all that is important to them to prove they are right and the other is wrong. In a Collaborative process, emotions are addressed to protect and preserve all that is important to both clients without judgment or blame. Since the Judge decides according to the law, lawyers can and do hold a separate litigated trial just on the issue of Date of separation costing clients over a $100,000, without any guarantee of benefit for that expenditure.
Date of Separation can impact fiduciary duties the parties have toward each other. Under the law, Date of Separation also can impact the extent of interest in a property depending on whether the property was acquired before or after the date of separation. Property acquired during the marriage and before the date of separation is presumed to be Community property owned by both spouses; there is no such presumption for properties acquired after the date of separation; and a second possible impact is the increase in the value of property due to a parties’ efforts. During the marriage, the spouses’ efforts and earnings are community property and after the date of separation, the efforts and earnings are separate property.
In a Collaborative process, the parties are not limited by the law and division by a Judge under the law. The parties can make any agreement that provides the most benefit to both parties involved. The agreement / Judgment can be worked out with the support of our financial experts taking into account what is important to each party, different tax considerations, and what solutions will provide the most financial benefit in the division of assets and debts.
My name is Michelle Daneshrad, I am a Certified Family Law Specialist. For more information, contact my office Smart Divorce Options 8189910519.