Who benefits by including a Divorce Financial Analyst on their divorce team?

Woman / Wife

You may be a stay-at-home mom that has given up your career to take care of the kids and the household. Or you may be a wife that has relinquished the family finances to your husband. You are worried about how you will survive financially after the divorce is over. You are concerned you may not make the best financial decisions because you don’t know all the ins and outs of divorce. Let me help you understand the financial situation, the pros and cons of different settlements, and the long-term financial impact of a proposed divorce settlement.

Answers to the most common divorce questions

Man / Husband

You are concerned what impact a divorce will have on your hard earned assets. You worry about how you will maintain your household after the divorce and still provide for the kids. You know you will be paying spousal support but you are unsure of the details. You don’t know how a divorce settlement will affect you taxes.
I can help determine the short-term and long term financial impact of a proposed divorce settlement and offer insight into the pros and cons of different settlements while helping you avoid the common financial pitfalls of divorce.

Answers to the most common divorce questions

Couples

You are a married couple that has come to the difficult decision that the best thing is to end your marriage and move on. You are both reasonable and can still discuss important matters but you are overwhelmed with all the financial decisions that need to be made in a divorce. You are not sure how to structure a property settlement so that it is fair to both parties and also avoids tax consequences.I work with divorcing couples as a financial neutral to help you devise a win-win divorce settlement.

Answers to the most common divorce questions



Divorce Attorney

As an attorney, adding a Certified Divorce Financial Analyst, CDFA, to the team enables you to concentrate on the legal aspects of the divorce proceedings while still reaching the best possible settlement for your client.

Answers to the most common divorce questions

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Top Reasons to Hiring a Certified Divorce Financial Analyst Before A Divorce

1. Financial analysis conducted early in the divorce process can save time.

The average length of the U.S. divorce process is one year. In the beginning stages of the process, both parties spend a great deal of time trying to get a clear understanding of the financial aspects and terminology of the separation. A Certified Divorce Financial Analyst professional can explain all financial aspects of the pending decisions and help to empower their client to make educated decisions throughout the proceedings.

2. A CDFA can help their client save money during the divorce process.

By using a CDFA professional, you can have a clearer view of your financial future. Only then can you approach a legal settlement that fully addresses your financial needs and capabilities. A legal settlement that floats back and forth between attorneys, without the client having a clear understanding of all financial ramifications, can be detrimental, time consuming and expensive. CDFA professionals can educate their clients by providing a thorough knowledge and understanding of the often-complicated financial decisions.

3. A CDFA can help his/her clients to avoid long-term financial pitfalls related to divorce agreements.

Working with a client and their attorney, a CDFA professional can forecast the long-term effects of the divorce settlement. This includes details of all tax liabilities and benefits. Developing a long-term forecast for their financial situation is far better than a short-term snapshot. Financial decisions must be made that not only take care of immediate family needs, but retirement needs as well.

4. CDFA professionals can assist their clients with developing detailed household budgets to help avoid post-divorce financial struggles.

A CDFA professional can help clients think through what the divorce will really cost in the long run and develop a realistic monthly budget during the financial analysis process. Expenses such as life insurance, health insurance and cost of living increases must be taken into consideration when agreeing on a final financial settlement.

5. Using a CDFA professional can reduce the amount of apprehension and misunderstanding about the divorce process.

Misinformation and misconceptions about the divorce process can be detrimental. Many have false expectations that they will be able to secure a divorce settlement allowing them to continue with their

accustomed style of living. Financial divorce analysis helps to ensure a good, stable economic future and prevent long-term regret with financial decisions made during the divorce process.


10 Common Divorce Money Mistakes

  1. Underestimating your expenses
  2. Keeping the house when you can’t afford it
  3. Not looking at the long term financial effect of a settlement
  4. Assuming that a 50/50 split of assets is a fair settlement
  5. Not understanding all the tax consequences involved in a divorce
  6. Not obtaining life insurance to cover maintenance and child support obligations
  7. Overlooking a Qualified Domestic Relations Order (QDRO)
  8. Not understanding your liability for unsecured debt
  9. Deciding financial issues one at a time
  10. Accepting an offer just to get it over with