There are three approaches to the divorce process. The first, litigation/representational, requires extensive court involvement, as well as the greatest level of involvement by attorneys representing you and your spouse. It is also, generally, the most expensive way to get divorced. Another route is mediation, in which you and your spouse negotiate in the presence of a third-party mediator and then consult with your attorneys outside of these sessions before you sign a final, legally binding agreement. Or you may choose collaboration, in which you and your spouse agree not to litigate. Instead, you attend sessions with your attorneys, and sometimes with mental health professionals and financial planners, to work out an agreement as a team. Mediation and collaboration require minimal court involvement.
Rock A. Tate is a Financial Advisor, CERTIFIED FINANCIAL PLANNER™ at The Tate Group at Morgan Stanley Smith Barney,