Devastating not only to the individuals involved but also to the children, family, friends, and employers of the divorcing couple. Divorce has a traumatic emotional impact but also a traumatic financial impact. The emotional whirlwind often interferes with the parties’ ability to think rationally and impartially about their financial situation. Unfortunately, the financial decisions made during the divorce will set the foundation for each party’s economic future, and making mistakes during the divorce can place a party at a permanent disadvantage.
Divorce attorneys, financial planners, and accountants can provide critical advice during the divorce. However, with rare exceptions, they lack the specialized knowledge required to analyze financial issues in the light of a divorce proceeding. Worse, they may be unaware that they do not have the required knowledge and end up finding out what they should have known only after the divorce has been finalized. The solution to this problem is the Certified Divorce Financial Analyst (CDFA).
The CDFA’s role is to ensure the clients and their lawyers fully understand how the financial decisions they make during the divorce will impact their financial future. The CDFA’s first task is to ensure the client has a working understanding of key elements of the divorce process, such as:
A CDFA will also work with the client to eliminate common mistakes many divorcing parties make due to emotional distress or simple lack of understanding. Some of these mistakes are:
The CDFA professional is a bridge that helps the attorneys, the client, and other entities work together to an economically optimal outcome.
Devastating not only to the individuals involved but also to the children, family, friends, and employers of the divorcing couple. Divorce has a traumatic emotional impact but also a traumatic financial impact. The emotional whirlwind often interferes with the parties’ ability to think rationally and impartially about their financial situation. Unfortunately, the financial decisions made during the divorce will set the foundation for each party’s economic future, and making mistakes during the divorce can place a party at a permanent disadvantage.
Divorce attorneys, financial planners, and accountants can provide critical advice during the divorce. However, with rare exceptions, they lack the specialized knowledge required to analyze financial issues in the light of a divorce proceeding. Worse, they may be unaware that they do not have the required knowledge and end up finding out what they should have known only after the divorce has been finalized. The solution to this problem is the Certified Divorce Financial Analyst (CDFA).
The CDFA’s role is to ensure the clients and their lawyers fully understand how the financial decisions they make during the divorce will impact their financial future. The CDFA’s first task is to ensure the client has a working understanding of key elements of the divorce process, such as:
A CDFA will also work with the client to eliminate common mistakes many divorcing parties make due to emotional distress or simple lack of understanding. Some of these mistakes are:
The CDFA professional is a bridge that helps the attorneys, the client, and other entities work together to an economically optimal outcome.
To learn more about how a CDFA professional can put their clients on the road towards a brighter financial future, please contact us by calling, emailing, or filling out our form.
To learn more about how a CDFA professional can put their clients on the road towards a brighter financial future, please contact us by calling, emailing, or filling out our form.