Russ Thornton, CDFA, of Wealthcare For Women shares the following information on the benefits of hiring a Certified Divorce Financial Analyst before a divorce financial negotiation.
A Certified Divorce Financial Analyst (CDFA) is a designation awarded to those professionals who have studied and demonstrated proficiency in the financial impact, both short- and long-term, of divorce. The CDFA designation is conferred by the Institute for Divorce Financial Analysts after the candidate studies and passes multiple tests including a detailed divorce case study.
A CDFA can be a valuable member of your “divorce team.” Working alongside you and your family law attorney, a CDFA can provide analysis and advice to provide financial context about potential divorce settlements you and your attorney may be proposing and/or considering.
Other possible divorce team members could include a forensic accountant and a counselor or therapist.
Questions a CDFA can help you explore and answer include:
These are just a few of the questions a Certified Divorce Financial Analyst can help you and your attorney answer.
And while many experienced family law attorneys are familiar with the financial impact of divorce, their primary responsibility is to help you navigate the legal aspects of equitably dividing your financial assets and coming up with a good parenting plan for any minor children.
While some CDFAs can also serve as an expert witness in court and provide other complimentary services and expertise during your divorce, they most often serve as the financial expert on your team of divorce professionals.
Do you have a personal story that you can share regarding these issues? I would love to hear from you.
More information in Transitions Divorce Prep Workbook
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Disclaimer: This is my personal blog. The opinions I express here do not necessarily represent those of my organization, Transitions Resource, LLC. The information I provide is on an as-is basis. I make no representations as to accuracy, completeness, suitability, or validity of any information on this blog and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its use.