A divorce can be a very stressful and emotional time. It also has wide-ranging consequences for each party’s financial future, including division of assets, and child support and maintenance, if applicable. A Certified Divorce Financial Analyst (CDFA) can help you navigate the financial aspects of divorce, analyze and protect your assets, and consider your financial needs and circumstances for the future.
A CDFA is a financial professional who has specialized training in the financial aspects of divorce. They can help you understand your financial situation, develop a budget, and plan for your future after divorce. A CDFA can also help you negotiate with your spouse or their attorney about financial issues. They can provide expert testimony in court if necessary.
If you are considering divorce, it may be valuable to have a CDFA on your team. They can help you make informed decisions about your finances and protect your assets. If you are considering the potential of involving a CDFA, it may be helpful to discuss this consideration with your divorce or family law attorney.
Here are some of the ways a CDFA can help you in the divorce process:
- Understand your financial situation. A CDFA will review your financial records and help you understand your assets, liabilities, income, and expenses. They will also help you identify any potential financial problems/concerns for the future, your budget, and other considerations surrounding the budget (such as whether you can afford to stay in/maintain the family home).
- Develop a budget. A CDFA will work with you to create a budget that fits your needs and goals. They will also help you track your spending and make adjustments as needed as you plan and consider your future.
- Plan for your future after divorce. A CDFA will help you create a financial plan that takes into account your new living situation, child support, and alimony payments. They will also help you save for retirement and other long-term goals.
- Negotiate with your spouse or their attorney. A CDFA can assist you in negotiations with your spouse or their attorney. They will fight for your rights and make sure that you get a fair financial settlement and point out potential discrepancies.
- Provide expert testimony in court. If necessary, a CDFA can provide expert testimony in court. They will explain the financial aspects of your divorce to the judge and help you get the best possible outcome.
If you are considering divorce, it is important to have a CDFA on your team. They can help you make informed decisions about your finances and protect your assets.
Here are some tips for finding and researching a CDFA to join your team:
- Ask your divorce attorney for a referral.
- Search online for CDFAs in your area.
- Check with the Institute of Divorce Financial Analysts (IDFA) to find a CDFA who is certified by the IDFA.
Once you have found a few CDFAs as potential options, be sure to interview them to make sure/determine if they are a good fit for you. Ask them about their experience, fees, and approach to divorce. If you believe that a Certified Divorce Financial Analyst (CDFA) is necessary for your case or situation, it will be helpful to first get your divorce or family law attorney on your team and then work with them to determine a collaborative approach with a Certified Divorce Financial Analyst (CDFA). Put our team of knowledgeable and experienced professionals at Pingel Family Law to work for your situation. Call our office today at (816) 208-8130 to schedule your consultation.