What advantages does Collaborative Practice offer for estate planning?
There are several advantages to estate planning using the Collaborative Practice approach, including:
Less Stress on Parties and their Relationships: The Collaborative approach reduces stress, anxiety and fears about the process and the outcome of your estate planning, especially if parties are concerned about the possibility of litigation over their estate. Parties can work these issues out in advance, and everyone can focus on settlement feeling fully informed and involved, with more control over the outcome.
Win-Win Approach: Collaborative Practice takes a positive approach and creates a congenial working environment. The opportunity exists for participants to work as problem-solving partners in a climate that facilitates “win-win” decisions.
Flexibility to Create a Unique Solution: Collaborative Practice encourages creative solutions in resolving issues, including remedies that may not be available in litigation.
Collaborative Practice Puts You In Charge: The non-adversarial nature of Collaborative Practice shifts decision-making to parties along with the support of the Collaborative Practice team, instead of putting decisions in the hands of strangers bound by the rules of a courtroom, often without a party’s involvement or input after death.
Lower Cost: Collaborative Practice is generally less costly and time-consuming than litigation.
Client Involvement: Collaborative clients play a vital part of the team (consisting of both parties and both attorneys). Parties have greater involvement in the decision-making and greater control over the outcome affecting their life.
Support From Your Professional Team: A party is supported in a manner that allows the attorneys and any other professional members of the team to work cooperatively together with a party and the family to resolve issues that might otherwise negatively affect aspects of their life and their relationships, both personal and professional.