Collaborative practice is a voluntary, interdisciplinary, and out of court settlement process for families to resolve the issues arising out of their separation and divorce. The parties will sign a Participation Agreement that enters them into the process. The Participation Agreement commits the parties to make full financial disclosure, to negotiate in good faith, and to put their children first. Families can retain neutrals: a family and/or financial professional. Family professionals assist with parenting issues, communication and family dynamics. Financial professionals gather and present the financial disclosure, brainstorm creative financial settlement options, and helping with complex financial structures.
Collaborative practice is also a process for couples getting married or moving in together.