From Marion Korn’s blog http://marionkorn.com/index.php/financial-stability-is-top-of-mind-in-grey-divorce/
At the time in life when incomes start to shrink and retirement is approaching, divorce costs are likely not in the budget. A lifetime of planning for the future can be deeply undermined if emotions get the better of good sense.
Divorce among couples in their 50’s and 60’s is on the rise. Whatever the cause, the effect is that a new strategic financial plan is needed. Additional living costs will be a certain result. And postponed retirement may be another.
Luckily there are good options that can control the cost of settling all the details in a “late in life” divorce. Gone are the days when divorce meant court and the delays and expense that entailed.
Collaborative Practice (also called Collaborative Law) is a popular choice among separating couples who want to work out their futures with respect for one another. They also recognize that preservation of their assets is key in ensuring that they can both look forward to financial stability.
The collaborative process is about management. The well trained lawyers manage the negotiations by making sure their clients are well informed and that they have the time they need to fully understand the effect of the choices they make.
The financial outcomes are also managed by the financial professionals who can translate the clients’ thoughts and choices about their futures into numbers that illustrate the realities.
Managing the costs of separation is the first step in re-establishing a plan for the future.
Call Marion Korn at 416-915-7000 for more information about Collaborative Practice and how this approach is well suited for late in life divorce.