Divorce is rife with opportunity. While it’s the chance to start anew for some, it can also be a negative opportunity — for serious financial problems. That’s where a Certified Divorce Financial Analyst can help.
Trained professional – A Certified Divorce Financial Analyst is trained to help you choose the best options for your future well-being. Just like your attorney will handle the legal part of your divorce, a CDFA can help plan for your post-divorce financial future. He or she has met the specific education and experience requirements of the Institute for Divorce Financial Analysts™. After passing their exams, CDFAs receive special software enabling them to produce graphs and charts for clients that show them the long-term results of various financial settlements proposed during the divorce.
Level the playing field – Spouses who haven’t shared the family’s financial management equally have a greater need to know about money matters. Easing negative emotions—fear, apprehension, anger—can benefit both spouses by making the divorce process feel more equitable and non-threatening.
Making informed decisions now — and later – A CDFA can provide many types of financial services, depending on your situation and needs. They can help you examine and understand lifestyle costs, explain the nature of various assets, inform you of the tax implications of various settlement options. A CDFA can help develop a realistic monthly budget. After you are on your own, a CDFA can offer thoughts on the long-term effects of a given divorce settlement. Is it better to take the family home or a cash buy-out? What percentage of retirement funds, business ownership, or other assets would serve you best, not only today, but in the years to come? Developing a long term forecast for your financial situation is just as important as making sure your immediate family needs are taken care of.
Professional divorce financial analysis increases the accuracy of financial information so that both parties arrive at workable settlements more quickly and more comfortably accept realistic lifestyle changes when necessary. Learn more about financial planning for divorce during the Second Saturday divorce workshop each month in Raleigh.
Some of this information provided by wife.org.