Sunset Family Business Radio

RECAP: Preserving the Family-Business: The Collaborative Process Alternative

Play Episode Pause Episode

Mute/Unmute Episode Rewind 10 Seconds 1x Fast Forward 30 seconds

00:00 /

RSS Feed

Share

Link

Embed

Is there a way to keep the family business in tact even during a divorce?  Our March 4th broadcast on Family Business Radio, hosted by Meredith Moore and Pat Romboletti, tackled this subject with the help of our experts.  Our guest included Amy Waggoner, Partner with Waggoner Hastings, LLC, Robert Bordett, CFP and SVP of Consolidated Planning Corporation, and Marsha Schechtman, Licensed Clinical Social Worker and divorce coach.

Our panel gave us an insiders’ tour of a relatively new process called collaborative practice, an avenue that can be used in cases of divorce in a family-owned business to ensure that the divorce does not destroy the family business.

The Collaborative Divorce Process is a way of practicing law where the attorneys for both of the parties in a divorce agree to assist them in resolving conflict or legal issues using cooperative strategies rather than adversarial techniques and court proceedings.

Collaborative practice uses specially-trained professionals from several disciplines—such as law, financial planning and social work—to create a team to help arrive at solutions that minimize the destructiveness that a divorce can wreak on individuals, family systems and businesses.

Amy explained that the collaborative process starts with an appointment with the attorney to make sure collaboration is appropriate for the situation. If it is agreed that the case is appropriate, both sides work with an attorney and team committed to the collaborative process.  From there, the case is triaged: referrals made, documents signed, teams formed. According to Bob, the next stage involves meeting with the neutral team members (in “four-way meetings”) to further understanding, including such sticky matters as the emotions attached to finances.

And speaking of finances, here’s something that will get everyone’s attention. Bob shared research showing that the average collaborative case in Atlanta takes about 7-8 months and costs roughly $24,000-$26,000. In contrast, Amy said—disclaiming from the top that there is no such thing as a typical litigated case—that in Atlanta in a jury trial of a divorce with medium complexity, the average cost is about $100,000. Per party. Just for the litigators.

Take that financial cost and now tack on the emotional cost (and who in today’s society doesn’t know someone who has been scarred by divorce?).  Marsha highlighted the children-centered aspect of the collaborative process. She said that the aim of the process is to have the adults see that they are “un-coupled, but still co-parents.”  The collaborative practice is all about mitigating the damage on all family members.

Other not-to-be-missed topics discussed in the hour-long conversation included:

• Some examples of how to handle the structure of the business when one non-working party to the divorce wants a piece of the company.

• The special problems presented by multi-generational family members in the business when a divorce occurs.

• How to best help non-family members who work in the business during a divorce.

• Personal reflections from the panel members on why they choose to work in a collaborative practice.

• Ways to use collaborative practice in areas other than divorce.

• A discussion of resources available to help you get educated on collaborative practice.

Be sure to download the Podcast to hear all the powerful concepts our panel shared.

And for more information on the Collaborative Process visit the following site:  Atlanta Collaborative Divorce Alliance

You can also contact our guests directly:  Robert D. Bordett, CFP, CDFA, Consolidated Planning Corporation-Telephone: 404-892-1995-Email: bob@u2agree.com//Marsha Schechtman, LCSW-Telephone: 770-753-4911-Email: marshaschechtman@atlantanpc.com//Amy Waggoner, Waggoner Hastings, LLC-Telephone: 770641-8200-Email: awaggoner@atlanta-familylaw.com

Sunset Family Business Radio

Using Collaborative Practice to Preserve the Family Business During Conflict

Play Episode Pause Episode

Mute/Unmute Episode Rewind 10 Seconds 1x Fast Forward 30 seconds

00:00 /

RSS Feed

Share

Link

Embed

On Thursday, March 11^th (live at 1:00pm) we will welcome three guest, Amy Waggoner, a leading Atlanta divorce attorney and Partner with Waggoner Hastings, LLC, Robert Bordett, CFP, CDFA, SVP Consolidated Planning Corporation, and Marsh Schechtman, LCSW who will tackle the subject of resolving major conflicts, including divorce, that could have the potential to not only destroy the family, but also the family business.

Our team of experts will discuss collaborative practice as it applies to family business issues.  Collaborative practice is a multidisciplinary approach to dispute resolution in which the parties work with a team of professionals, including lawyers, financial neutrals, and facilitators, to create a solution that meets the needs of all involved.  Collaborative practice can be used in negotiating original corporate formation as well as in negotiating corporate dissolution.  Collaborative practice also may be used in divorce to ensure that the divorce does not destroy a family business that the parties have worked so hard to maintain.

Our prior shows have emphasized planning around a number of different issues that family businesses face, and this show is no exception.  Understanding the value of the collaborative process will allow you to be prepared if conflict arises.   The show promises to be a lively and informative discussion so please be sure to join us–or download the Podcast after the show if you can’t listen live.

Our Guests

Amy K. Waggoner is a collaborative family law attorney.  Her focus is working together with clients in transition to find creative solutions that promote the best interests of the family and the children. In addition to the collaborative practice of family law, Amy serves as a Guardian ad Litem to protect the interests of children who are involved in contested custody matters and regularly volunteers her time in helping children and families through the Atlanta Volunteer Lawyers Foundation.

Amy is a founding member of the Atlanta Collaborative Divorce Alliance, and a member of the International Academy of Collaborative Professionals, the Collaborative Law Institute of Georgia, the Family Law Section of the Atlanta Bar Association, the State Bar of Georgia, and the State Bar of Tennessee.

She regularly lectures on collaborative and family law issues, particularly those involving implementing creative, non-adversarial solutions to legal issues.

Amy Waggoner, Waggoner Hastings – Telephone – 770-641-8200

Robert D. Bordett is Senior Vice President of Consolidated Planning Corporation.  He is a Certified Financial Planner, Certified Divorce Financial Analyst, and a registered mediator and arbitrator with the Georgia Office of Dispute Resolution. He is committed to positive outcomes for divorcing families.

Bob has spent more than 25 years providing financial expertise in collaborative practice and mediated divorce proceedings.  He is past president of The Collaborative  Law Institute of Georgia, past board member of the International Academy of Collaborative Professionals (IACP) and a member of the IACP Advisory Council on Collaborative Practice and Training.  In addition, he is past president of the Georgia Society of the Institute of Certified Financial Planners, served as a National Committee member for the Institute of Certified Financial Planners, and is a founding member of the Family Mediation Association of Georgia.  In addition, Bob is a current member of the Association for Conflict Resolution, National Association of Tax Practitioners, Financial Planning Association, and Association of Family and Conciliation Courts.  He has written numerous articles on financial planning and Collaborative Practice that have been published in the Atlanta Journal Constitution, Journal of Financial Planning, Georgia Family Mediation News, Fidelity 401K magazine and has appeared on CNN Sunday News.

Robert D. Bordett, CFP, CDFA, Consolidated Planning Corporation – Telephone – 404-892-1995

Marsha has a Masters degree in Clinical Social Work from Florida State University.  She has been a clinician for over twenty five years and has been practicing in the Atlanta area since 1982.

Marsha has had a full time private counseling practice since 1990 where she works with adults, adolescents and children in individual, family and group settings. For the past ten years, a good portion of her practice has been providing marital therapy to couples. She has also assisted couples and families who are transitioning as a result of separation and divorce. Marsha has provided Co-Parenting Counseling as well as Parent Coordination services for couples and families.

In 2004 she received her training as a Collaborative Divorce Coach and Child Specialist. She has been a part of many Collaborative Interdisciplinary Teams as a Divorce Coach or Child Specialist. Marsha is a board member of the Collaborative Law Institute of Georgia, serves on the research committee of the International Academy of Collaborative Professionals and is a member of the IACP. Marsha has facilitated a number of CLIG Practice and Organizational Development Group (POD) meetings, providing continual education for members, is a trainer for CLIG’s introductory and advanced trainings and provides basic and advanced training for collaborative professionals throughout the United States. Marsha is a registered general/civil mediator and divorce mediator.  Marsha is an active member of the National Association of Social Workers and the Academy of Clinical Social Workers.  Marsha Schechtman, LCSW – Telephone – 770-753-4911