Paths Through Divorce (1/7): Mediation, Collaboration & Litigation

Paths Through Divorce: Mediation, Collaboration, Litigation

Financial advisor and CDFA Kathy Costas of EP Wealth Advisors explains that divorces can follow different processes and choosing the right one depends on a couple’s dynamics and financial transparency. She outlines three main approaches: mediation, where a neutral third party facilitates discussions without advising either spouse and can work best when both parties get along and understand the finances; collaborative law, which uses two teams of experts (including financial professionals, a divorce coach, and a financial neutral) but requires starting over with a new team if the process fails; and litigation, where each spouse hires an attorney to negotiate a settlement, with most cases not ending in court. She notes litigation can be appropriate for financial knowledge imbalances, difficult custody issues, or domestic violence, and advises interviewing multiple attorneys to find the best fit.

00:00 Divorce Options Overview

00:26 Mediation Basics

00:59 Collaborative Divorce Teams

01:30 Collaborative Risks

01:53 Litigation Explained

02:39 When Attorneys Help Most

02:54 Choosing the Right Lawyer

03:52 Marathon Mindset Wrap Up

EP WEALTH ADVISORS:

EP Wealth Advisors, LLC ("EP Wealth") is a leading independent registered investment adviser ("RIA") on a mission to provide clients with honest and objective advice through personalized financial planning, customized investment portfolios, and integrated tax and estate planning. Visit ⁠epwealth.com⁠ (http://epwealth.com/) to find out more.

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