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How Collaborative Helps: Financials

Every financial situation is different, and a team of collaborative professionals can help you navigate the process to reach the best possible conclusion for your family. We answered some of the most common financial concerns below so you can feel confident moving forward with collaborative practice. 

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What do I need to do to protect myself right after my separation?

Talk to a Collaborative lawyer for legal advice.  Every separation is unique.  Remember, if you do something like cleaning out the bank account, then your spouse will be upset and not trust you.  This will make it difficult for your spouse to want to understand and help you. 

What happens if we reconcile?

Congratulations!  Every reconciliation is a little different.  Your Collaborative lawyer will advise you on the legal effect in relation to parenting, money and property.

What if my spouse is hiding assets?

Before you make any decisions, you will have all the financial information you need.  Spouses do not hide assets in Collaborative separations.  Collaborative professionals are not going to help your spouse to hide assets.

What if my spouse gets paid in cash and does not declare all of their income?

There is nothing wrong with getting paid in cash.  Not declaring that income is wrong and illegal.  Collaborative professionals are not going to help your spouse break the law.  Your spouse has agreed to a Collaborative separation and has promised not to hide undeclared income from you and the Collaborative professionals. 

Ready to get started with the collaborative process?

It all starts with finding a professional near you and reaching out for a consultation. You’re taking the first steps towards reaching a smart settlement to your seperation. 

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Financials

Learn how the Collaborative Process can help you easily navigate your family financials after separation.

Property

Understand the ways the Collaborative Process allows you to handle property & assets.

Pre-Nups

Collaborative Practice allows for couples to arrange a cohabitation agreement or marriage contract.

Parenting

See how Collaborative Practice is the best option for protecting your children's best interests.

Time & Cost

Collaborative Practice has the benefit of a reduced time commitment and lower expenses.

Ready to get started with the collaborative process?

It all starts with finding a professional near you and reaching out for a consultation. You’re taking the first steps towards reaching a smart settlement to your seperation. 

Find Members Ready to Help

Frequently Asked Questions

No.  You do not need a home inspection when you buy a house either.  You do not need a lawyer when you separate.  Those are two of the most important decisions you will make in your life.  Like a home inspector, the lawyer will look at your situation and help you come up with solutions.  You should get good advice and have your Separation Agreement written by a professional. 

Yes. Collaborative Practice Sudbury is available for all people in families who need help.  

No.  Only lawyers, financial professionals and family professionals specially trained who sign Participation Agreements can help you.  

These professionals have training recognized by the Ontario Association of Collaborative Professionals.  Our members commit to continuing education and we meet regularly and attend seminars and conferences.  

No.  Lawyers need Collaborative training to understand that it is very different than law school training and the courtroom.  Real Collaborative lawyers sign Participation Agreements to stay out of the courtroom.  Any lawyer that does not sign a Participation Agreement is not a real Collaborative lawyer and you are not in a Collaborative separation. 

Your family professional helps you and your spouse. Separating is tough.  Collaborating makes it easier with a family professional.  Your family professional will help you have positive conversations with your spouse that lead to an agreement. Your family professional helps you and your spouse deal with the emotional issues from your relationship when you are separating and collaborating. Depending on the needs of your family, the family professional may want to speak to your adult child.

By collaborating. 

By understanding your emotional issues with the family professional. 

By understanding the financial issues with the financial professional. 

By understanding the legal issues with the lawyers. 

By understanding your spouse and your spouse understanding you. 

By collaborating. 

Only a judge can give you a divorce.  You can deal with money, property, children, and other concerns in a separation agreement prepared by the Collaborative lawyers.  Then, after the separation agreement is signed, you can ask your collaborative lawyer to get a simple divorce. 

You need two people to agree to get married.  You only need one spouse to want a divorce or separation.  If you or your spouse is having a hard time accepting the separation, then the family professional in the collaborative separation can help you.  There is no team to help you if you choose to go to court.

If one person “wins” in a separation, then it will lead to problems in the future because the “loser” will never accept the “loss”.  In Collaborative, we want both of you and your children to feel heard, understood and helped.  No one should feel like he or she has “lost”. 

Cohabitation Agreements and Marriage Contracts (what some people call “Pre-Nups”).

This is a new choice and the Collaborative method keeps expanding.  Collaborative might be a good choice for your issue.  Ask a Collaborative professional.

Collaborative Practice Sudbury seeks to help separating couples find a resolution without needing to go to court. Collaborative professionals are trained to keep conversations respectful and productive while working towards solutions that are the best for children and families.  

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