Having a financial neutral on your Collaborative Team can do several things. The financial neutral works with both of you to help understand the impact, both short and long-term, of different settlement options. This will allow you to make educated decisions with increased comfort for your and your spouse’s future. Sometimes a financial neutral is brought in to help the parties understand the value of a business or an asset that is difficult to value. A financial neutral can also help you understand your budget and how things will change when you go from having one household to two. Often one person in the relationship has a better understanding of financial issues. The financial neutral helps to level the playing field in this situation and to educate both parties. Your financial neutral is also willing to work individually with each party, with the consent of the other, to teach the basics of household finance: how to write a check, balance a checkbook, pay bills, use on-line banking websites and more.
A financial neutral should be utilized in almost every case. If you feel that it may be unnecessary, please consider your spouse and how they might be helped by using a financial professional. Also consider that the work of a financial neutral can lower the cost of the divorce because their fees are typically lower than attorney’s fees and, since this is their area of expertise, they are more efficient.