Divorce Financial Analyst

Divorce is a source of extreme stress for many people. When you consider the emotional burden of intricate financial concerns that develop during this time, it is critical to get expert assistance to ensure that your financial issues are addressed during the divorce. A Certified Divorce Financial Analyst (CDFA) is a professional who can carry some of the weight off your shoulders.

Consider that approximately one million couples divorce in the United States each year, and during that time, they will face some of the most critical financial decisions of their life. Although your divorce attorney will handle the legal parts of the divorce, you may find that dealing with a Certified Divorce Financial Analyst will offer significant benefits.

Who Is a Certified Divorce Financial Analyst?

This is a qualified financial practitioner who can help you organize, gather and prepare your financial information as well as determine which financial details are most significant for you. You may have pondered discussing a slew of financial issues with your divorce attorney or a paralegal, but neither is a financial specialist.

As a result, having a CDFA handle basic financial details and numerous crucial computations can save you time and money on pricey hourly rates. A CDFA, for example, can assist you in preparing a conjugal balance sheet, which is a simple overview of your debts and assets. Or he or she may assist you in completing the crucial net worth statement, which is necessary for almost every scenario.

When Should You Hire a Certified Divorce Financial Analyst?

Once you’ve decided to file for divorce, you should start working with a Certified Divorce Financial Analyst as soon as feasible. Many people will wish to hire a CDFA before hiring a family lawyer or filing paperwork. This specialist may help you arrange all of your financial paperwork to take to your lawyer ahead of time, saving you time and money on expensive attorney costs.

A good certified divorce financial planner can also assist you in developing a financial strategy before you divorce your spouse. It can be difficult to create a budget that displays the practicalities of separating your home into two, especially if you intend to continue with the same income level. They may be able to provide advice on how to find a new source of income for stay-at-home parents or unemployed spouses.

What to Bring for your First Appointment

Before your appointment with a specialized financial planner for divorce, it may be beneficial to have a list of well-thought-out questions and concerns, especially those about your current financial situation. These questions can be used by a CDFA as a guideline for outlining the most significant components of the divorce process, as well as a tool to provide you with the information you need and want right away. Bring all relevant financial documents that show your current financial situation. W2s, bank statements, pay stubs, investment account statements, and retirement account statements are examples of what you might find. All of these financial documents can help you understand your finances.

As you embark on the next chapter of your life, you require security, stability, and peace. The Tranel Financial Group is committed to creating better futures, not simply better divorces. Contact us today for more information about our certified divorce financial analyst fees and our services.

 

The Tranel Financial Group

+1 847-680-9050

Divorce Financial Analyst

1509 North Milwaukee Avenue

Libertyville IL 60048 US


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