Sometimes we get asked by clients who are working through a divorce whether it is OK to share financial analysts with their spouse. In some cases, it works.
For instance in a Collaborative divorce, the financial planner often works neutrally for both parties, while the spouses are represented separately by lawyers . In mediation cases, we have worked for both parties as well. In either the collaborative or mediation methods, the parties often aim to shape their divorce agreements in good faith as it best suits them. They will try to reach an agreement that is “fair and equitable” without the court making decisions for them. In those cases, it may make sense to share a financial planner. Indeed, it may even facilitate and speed up the process.
In the more common adversarial process (each party talks through their own lawyer), people ask us also whether they can share financial specialists.
We do not recommend it. We do not do it. We believe it is important in a divorce to get competent financial advice in addition to competent legal advice, however, we could not provide that should our loyalties be split. In that case, the answer is no.
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