Financial Neutrals in Litigation, Divorce Mediation and Collaborative Law
As an experienced divorce lawyer, collaborative attorney, and certified mediator, Mr. Darren M. Shapiro Esq. is vigilant in maintaining the highest standard of education in all areas associated with family law. However, despite his commitment to constant education, even Mr. Shapiro notes that it can be helpful to acquire insight from additional professionals during a collaborative law or mediation. Many couples in the midst of a divorce don't understand the rights they have regarding financial matters, or struggle to understand the implications they might have to face when approaching certain settlements. Because of this, a financial neutral can be particularly effective in offering insight and advice during a complicated time.
In cases involving parenting time and child custody, child specialists can help couples to navigate various complexities concerning the care and future of the child. In the same way, a financial neutral can work in divorce cases to provide answers on how both sides can continue to manage and secure their finances when making the transition from one household, to two separate homes. In most circumstances, these professionals are jointly hired by the couple engaged in a collaborative or a mediation case. As a "neutral" party, the expert will then assist both clients at the same time, as well as meeting them independently when required to go over financial concerns. Mr. Shapiro, and many other attorneys can recommend financial neutrals that their clients can speak to, particularly for individuals who might be worried about how they will be able to allocate finances as a single person.
Mr. Darren M. Shapiro frequently advises his litigation clients, mediating couples and those involved in collaborative cases to seek out additional help from professional independent parties. For instance, many clients in mediation will use review attorneys who may be able to offer a better insight into the agreements being drafted, and help parties to understand their rights. Just like review attorneys and child specialists, there is nothing stopping mediating couples form accessing other professionals when it comes to achieving the best outcome for everyone involved. After all, as Mr. Shapiro reminds his clients, litigated cases often order and retain experts from outside of the court to help a case progress.
There are a lot of concerns to think about when a divorce takes place. The couple involved not only has to deal with the difficulty of dissolving a relationship, and the emotional turmoil that can occur as a result, but they also need to think about how they're going to prepare for the future. One of the biggest concerns that Mr. Shapiro has noticed within his clients, is the worry of how to manage money as a single person without additional support. For instance, in many marriages, one partner within the relationship maintains control over the majority of the finances, which leaves the other partner lacking experience and understanding when approaching their own money management concerns. A financial neutral in a mediation or divorce case can work alongside the couple, and other team members, in order to deliver clarity and offer suggestions on how to manage money in the future.
Importantly, the purpose of a financial neutral is not to state what the law requires in regards to divorce, maintenance, and equitable distribution - rather, clients can speak to lawyers like Mr. Darren Shapiro for that purpose. Instead, financial neutrals are helpful in offering additional guidance to parties as they move through the negotiation of their divorce. Financial neutrals offer a wide range of assistance to divorcing couples, such as helping them to fill out net-worth statements or financial disclosures that will prove beneficial as the case progresses. Once a financial statement has been completed, most clients find that they instantly have a better understanding of their financial situation, and the financial options of the other client too.
What's more, a financial neutral can help in the process of budgeting, by assisting each spouse to understand how they will need to use money in accordance with existing and future expenses. These experts can also offer additional education for individuals who are unsure about how they might need to proceed in regards to various financial and tax issues like child support, property division, maintenance, retirement plans, and debt reduction. In some circumstances, financial neutrals working alongside Mr. Darren Shapiro might also suggest the need for couples to speak with additional experts that apply specifically to their case, such as real-estate appraisers, business evaluators, mortgage brokers, and pension specialists.
Once negotiations have come to a close, the parties involved in a mediation or collaborative law case with Mr. Darren M. Shapiro can request that the financial neutral prepares financial reports, which outline the information required by the courts, such as a list of liabilities and assets, income, and family expenses. These reports can then be added to the documents that attorneys use to draft a settlement agreement. Because divorce is such a complicated process, financial neutrals - like many other accessible experts in legal cases, can provide a range of unique benefits to both parties involved. Often, during a mediation or collaborative procedure, the presence of a financial neutral can even help divorcing parties to focus more appropriately on both of their needs, so that they may be able to come up with plans on how to manage their financial future properly, for the good of themselves, and their families. The presence of a financial neutral can also help to generate a creative space wherein financial solutions can be generated, and a more positive of image of the future might be constructed. By offering fair, and neutral insight into the finances involved during a divorce, a financial neutral helps both parties to address their needs and find solutions for the future.
To learn more about working with Mr. Darren M. Shapiro in a litigation, settlement negotiation, divorce mediation or collaborative case, please contact us at your earliest convenience for reliable, informative advice. Mediating couples can attend the office together for their free consultation at their earliest convenience, while individuals may have their free initial consultation themselves. Contact can be made either through the online form, or phone at: (516) 333-6555.