At a joint conference hosted by the Jersey Shore Collaborative Law Group (JSCLG) and the NJ Center for Collaborative Divorce & Mediation group at the historic Molly Pitcher Inn, ExExpense demonstrated its importance as a tool to facilitate collaborative divorces.
Finding tools that help streamline the divorce process is a constant theme of the Jersey Shore Collaborative Divorce and Mediation Group and in the March 15th conference cosponsored by the NJ Center for Collaborative Divorce & Mediation group for Northern Jersey, ExExpense presented the solution at the historic Molly Pitcher Inn in Redbank, NJ.
Collaborative Divorce is different that it employs a team of professionals that work together to facilitate a divorce, minimizing conflict, stress, anxiety and the high cost often associated with long divorces. With Collaborative Divorce each party can still have their own lawyer, but in addition, there are 3 or more neutral parties including a Psychotherapist, Financial Advisor and a Mediator. The Collaborative team, including the lawyers all work together to get to an equitable resolution faster and at a lesser cost.
The key to success is that the neutral parties are not part of the back and forth that typically results in long divorces. One of the most challenging aspects of the divorce process is maintaining the status quo – paying the bills, attending to the children’s needs and maintain as much of a normal life as possible – but when money is tight, keeping track of and paying the bills becomes difficult. It is the responsibility of both parties to contribute to the household bills and the bills of the children, using agreed upon or court ordered sharing percentages. This is where ExExpense comes in. With ExExpense both parties upload the expenses they pay and the system keeps track of balances and the supporting documentation.
ExExpense is an extremely valuable tool, particularly because it avoids wasting the entire collaborative divorce team’s time discussing dozens of bills and reviewing and reconciling each parties’ spreadsheets and supporting documentation. It’s not uncommon for there to be over 100 expenses in a year that are subject to sharing, and manually reconciling the differences is completely eliminated with ExExpense. ExExpense allows the Collaborative team to get right the task of resolving the divorce.
During the Divorce process couples usually share expenses using a single sharing percentage. After the divorce is final it is not uncommon for there to be several different sharing percentages for different types of expenses. Medical Expenses, for example, are shared based on a ratio of the incomes of the divorced couple, but college, childcare, athletics/sports, are often shared using other percentages. To make things even more complicated, there is often a first dollar threshold amount that must be reach before the percentage kicks in. ExExpense takes all this into consideration and is the best tool for divorced couples to use to manage their shared expenses after the divorce is finalized. It eliminates the conflicts and hassles associated with managing the expenses and extending the communication with the ex-spouse.
“My favorite comment is from a guy who said his current wife paid for ExExpense for him to use with his Ex-wife. She was tired of him spending time on the phone with his Ex arguing over the bills,” says David Kolakowski, President/CEO or ExExpense, “Now, she says things are a lot more peaceful.”
“ExExpense users love the camera feature. Literally, right at the doctor’s office users can take a photo of the receipt with their mobile device and upload it to ExExpense, so the paper verification is always stored with the expense record.”
ExExpense provides users a 30 day free trial and promotional offers can be obtained from you’re a Collaborative Divorce Professional.