Is your collaborative attorney well trained?

When you are considering going the route of a collaborative divorce, you should start by talking with collaborative neutral professionals. We come in two flavors: financial professional and mental health professional (aka coaches). You might think you should start with talking to attorneys. That can work, but if you start with the neutral professionals, you can ask them for referrals to attorneys.

Here’s an insider tip: We neutral professionals only like working with the best collaborative attorneys. Those are the attorneys we’ll tell you about. Our reputations are on the line. When a collaborative law case goes bad, it hurts us too.

We like to work with collaborative attorneys who repeatedly attend interdisciplinary collaborative training courses. How frequent? I’d say every third year. The training courses I’m talking about are two-day interdisciplinary training courses. The best training courses include role-playing among the three kinds of professionals — attorneys, financial professionals and mental health professionals (aka coaches). The not-so-good training courses are just lectures.

You should choose a collaborative attorney who attends both the role-playing interdisciplinary training courses repeatedly over the years. An attorney I often work with, Norma Trusch, created and teaches the Collaborative Law Institute of Texas interdisciplinary role-playing course. She is a collaborative law attorney who really knows her stuff.

I have attended three role-playing interdisciplinary training courses and one lecture-only training course over five years. I am also a substitute trainer for the Collaborative Law Institute of Texas interdisciplinary role-playing course.

Collaborative law is an area that does not require licensing or credentials. There is nothing to stop a professional from saying they are collaborative when they are not adequately trained in collaborative law. This means that you, the consumer, need to ask questions and get referrals.

Spendthrift Spouses

I was recently quoted in an article on moneycentral at msn.com. Liz Weston wrote a great article about spendthrift spouses. You can read it at http://tiny.cc/6bzw4

Financial issues is one of the top two reasons couples divorce. (The other is lack of communication.) Differences in spending habits is one of the most common types of incompatible financial attitudes. And money is very difficult for many couples to talk about. So there is the double whammy of financial issues and lack of communication.

I have seen a lot of marriages tipped to divorce because of money and debt. Those couples who have chosen to divorce in the traditional litigated pattern have fared the worst. The costs of those divorces were substantially greater than the collaborative divorces of similar circumstances.

When it comes to divorcing a spendthrift spouse, the best divorce method is the collaborative law process. In this process, as the financial professional, I am usually asked to educate the spendthrift spouse about cash flow and budgeting. The couple gives me their bank statements and credit card statements for a period of time no less than three months. I pull together an accurate, detailed picture of their expenses. They are always surprised. Everyone thinks they spend less than they actually do. The spendthrift spouse and I work together to create a cash flow plan that works in their unique living situation. The spouse chooses where to cut back on spending. This is the crucial buy-in that assures the new budget commitment. It also reduces the chances that this spouse will boomerang back to the other spouse in future years to ask for more money.

Budgeting is one of the foundations of financial literacy. The AICPA (American Institute of Certified Public Accountants) and the TSCPA (Texas Society of CPAs) have been providing educational tools on financial literacy for years. You can read more about these at http://tiny.cc/sk2zz