The Collaborative Process offers couples a more amicable and cooperative approach to ending their marriage. Unlike traditional litigation, this process emphasizes transparency, open communication, and mutual respect, with the aim of reaching a fair settlement without the adversarial nature of court proceedings. However, one of the critical aspects of collaborative divorce is the requirement for full disclosure of material information. So, what exactly needs to be disclosed, and what can remain confidential?

In any divorce, financial transparency is paramount. Both parties must fully disclose their financial situations. While transparency is a cornerstone of the collaborative divorce process, can certain items remain confidential? Specifically, if one spouse who has less understanding of the financial situation asks the neutral financial professional to look further into the details of the finances to confirm information, does that need to be disclosed as material information to the entire team?

At our most recent Friday Virtual Happy Hour we had a spirited debate about this topic of what material information needs to be disclosed and what information can remain private and confidential from some team members and the other spouse. Opinions varied and the information shared helped to reshape the opinions and practices of everyone involved, but now we want to hear from our readers.

The Collaborative Process requires a careful balance between transparency and confidentiality. By understanding what needs to be disclosed and what can remain private, professionals can help couples navigate this challenging time with dignity and respect, helping to pave the way for a fair and amicable resolution. Share your thoughts with us in the comments below and/or join our weekly Virtual Happy Hour every Friday afternoon at 4:30pm EST via Zoom.