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A business-minded approach to asset division can help

In a number of ways, divorce is similar to a business dissolution where assets, liabilities and wealth are divided. In addition, there are understandable emotions commonly involved in the divorce process. Though divorce can be a process complicated by emotion, focusing on the business-like aspects of it can help divorcing couples remain focused. In doing so, they can minimize the emotional and financial costs of divorce.

There are different alternative dispute resolution options to consider for the divorce process including mediation and collaborative law divorce. Certain divorce processes may be better for different situations and different couples so it is helpful to have trained guidance and a careful understanding of what option is best in each circumstance. Whatever option is selected, or a combination of options such as mediating some divorce-related issues like asset division and litigating others, a business-minded approach can help minimize divorce-related stress.

Being solution-oriented is beneficial for both parties to reach a divorce agreement that both parties can live with and will abide by in the future following the divorce. When the couple is focused on working together to reach shared resolutions, they end up with more control over the outcome of the process. Divorce litigation can lead to disputes and is a public process. Collaborative divorce and mediation options can provide more privacy and a less adversarial process.

When divorcing spouses are able to prioritize their concerns and exchange information in an open and honest manner, it can expedite the divorce process and reduce the amount of time, money and bad feelings spent on it. Being familiar with the divorce process, and family law options available to guide couples through it, can help provide a more transactional, and less emotional, focus.

Source: Smart Business, "Navigating divorce by using a business mindset," Mark Scott, Jan. 1, 2017

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