In the Collaborative Divorce setting a consultation with a Bankruptcy attorney can help couples avoid unpleasant financial surprises.
Karina Lucid helps divorcing couples and their attorneys navigate the complexities of a Bankruptcy proceeding through targeted Bankruptcy Planing services.
Depending on your circumstances, a Bankruptcy may be more helpful to a couple if they agree to file together – before their divorce is final. Sometimes, it is better to wait and perhaps avoid a bankruptcy filing for one spouse. In fact, you may be in a position to avoid Bankruptcy completely just by making smart, informed, choices about dealing with your debt during your divorce proceeding.
- Let Bankruptcy attorney, Karina Lucid, help you understand if a Bankruptcy proceeding can help you before you finalize your property settlement agreement or make any final decisions about your domestic support obligations.
- Call (908) 350-7505 to arrange for your in-person Bankruptcy Planning meeting.
What is Collaborative Law?
Collaborative Law is a voluntary and solution-based approach to conflict resolution. Unlike traditional litigation models of dispute resolution, where the courts control the time lines and the process, Collaborative Law is client controlled. That means YOU decide how information is shared and how quickly your dispute is resolved.
The Collaborative Law dispute resolution process was developed by a family law attorney who was frustrated with traditional litigation and its destructive effects on the families involved. In the family law context, Collaborative Law is designed to preserve the integrity and dignity of families in conflict.
Karina Lucid is a New Jersey Bankruptcy attorney and Collaborative Law professional. Karina Lucid is a member of the New Jersey Collaborative Law Group and serves as a bankruptcy consultant in Collaborative divorce cases. When couples go through a divorce they often find that they are having difficulty managing their debts. As a collaborative bankruptcy consultant, Karina Lucid assists these couples in understanding how a bankruptcy proceeding may – or may not – be helpful to them both. For more information about the New Jersey Collaborative Law Group, go to: http://www.newjerseycollaborativelawgroup.com/
Benefits of a Collaborative Approach
- Save time and money
- Avoid going to court
- Helps preserve business and personal relationships
- Protects confidentiality and avoids publicity
- You are in control of the process
- Encourages mutual respect
- Provides a forum that facilitates open communication
- Uses an interest-based, problem-solving approach
- Identifies and addresses all parties’ interests and concerns
Collaborative Law is Solution-Oriented
When you choose a collaborative approach, you are choosing settlement by design.
In traditional litigation, approximately 95% of cases are ultimately resolved by settlement. Frequently, the parties are driven to settlement by the costs associated with litigation and the sheer emotional exhaustion of unnecessary and unproductive fighting.
Disputes affecting businesses, partnerships, employment, contracts, construction and probate matters are financially and emotionally disruptive for everyone involved. Litigation often adds to the problems by fostering entrenched positions that are destructive to relationships, and detract from solving the dispute itself – and which are therefore financially wasteful.
The practice of Collaborative Law provides a productive alternative.
The Collaborative process emphasizes identifying solutions, building on areas of mutual agreement. Unlike traditional litigation, participants in a Collaborative case exchange information in a confidential and non-confrontational environment designed to foster a superior settlement.
The Participation Agreement
The parties agree not to seek court intervention by committing to stay in the negotiation process and focus on the settlement by design from the outset.
At the commencement of a Collaborative case, the parties and their attorneys sign a Participation Agreement whereby each promises to
- Solve the parties’ dispute in a cooperative and private way
- Seek out solutions that promote the best interests of the parties
- Preserve key relationships
- Prevent draining, costly court battles
- Maintain open communication
- Parties will participate in good faith negotiations through in-person meetings with their lawyers and other professional advisors or experts as needed
Is the Collaborative Approach Right for You?
If you are focused on the future and you want satisfying long-term benefits including a sustainable, interest-based settlement and the ability to end the confrontation in a quick and cost-effective manner, then Collaborative may be the right choice for you!