The community property law in Texas requires marital assets to be divided equally in a divorce, which can make negotiations difficult when the assets involved include business holdings, investment portfolios and art collections. Determining what these assets are worth and how they should be divided is rarely easy, and experts like appraisers, financial planners and forensic accountants are often called in to help resolve these matters.
Alternatives to court
Divorcing spouses who cannot reach an agreement at the negotiating table can take their case to court and let a family law judge decide how much spousal support should be paid and how assets should be divided, but that involves airing grievances in public that most people would prefer to keep private. Mediation offers divorcing spouses a less adversarial venue to resolve their differences, and it is often ordered by judges when cases are complex and likely to take up a lot of the court’s time.
Collaborative law is another alternative to settling high-asset divorce cases in court. During collaborative law sessions, both parties are represented by an attorney, but these lawyers have to step aside if an agreement is not reached. This gives collaborative law attorneys and incentive to work hard to find a solution, and it is one of the reasons why this cooperative approach produces an amicable resolution so often.
Saving time and money
Litigation is expensive, and one or both parties will likely leave the courtroom unhappy. Alternative approaches like mediation and collaborative law are designed to help divorcing spouses find common ground, and they can save them both time and money. Litigation remains an option for spouses who cannot reach an agreement during collaborative law negotiations or do not like a mediator’s recommendations, so they really have nothing to lose by giving these approaches a chance.