Divorce Financial Planner

Disputes about money are the leading cause of divorce, and unnecessary money disagreements are often the difference between an inexpensive, amiable divorce or an ugly dragged out case that cost both parties way too much money and heartache.

Using a CDFA , a Certified Divorce Financial Analyst also known as a Divorce Financial Planner, to assist in the divorce process is becoming common practice for many divorcees and is absolutely essential in avoiding the most common financial mistakes in divorce. When dealing with something that is as important as your financial future, something that most of us are not experts at, using a CDFA is not just wise, it is absolutely vital. Beginning the process with a CDFA consultation, is a financially responsible choice and is recommended as the first step in the divorce process even before you consult an attorney

Benefits of a Divorce Financial Planner

Often a CDFA will give you advice and steps to take in the planning stage before you even begin the actual divorce process.  Many divorcing couples today are looking for a more amicable split. They are looking to avoid attorneys completely, turning to mediators or even going through the process pro se or unrepresented. While neither a mediator nor a CDFA is an expert in divorce law, or an expert in the understanding as to how the consequences of the law will affect you in the future, it is always a good idea to have a qualified attorney to represent your best interest and assist you.

A Certified Divorce Financial Analyst is a vital part of any divorce team, whether hired by the couple to act as a financial neutral in a mediated or collaborative divorce or acting as a consultant alongside the attorney representing only one party in a divorce litigation.

A CDFA plays a critical role in helping the process to move along more quickly and will help to avoid a future trip back to court if one party feels as though the split was not equitable or fair. A CDFA is often brought in to a case and is called to testify as an expert witness to bring financial clarity to the financial issues in a case. The tax consequences on financial plans has become very complex, and although an attorney understands the laws that apply to divorce, they are often not qualified to give direction on financial issues such as identifying and dividing marital assets versus personal assets and they often do not want the liability that is involved with making recommendations.

Contact a Divorce Financial Planner

A Word From Our Leading CDFA

Watch this quick video to see how one of our leading Certified Divorce Financial Analysts, Jennifer Merida, helps clients navigate the financial aspects of a divorce.

Other Considerations

There are many things that need to be considered, when dividing marital assets, such as capital gains when considering selling or keeping the family home or other investment properties. There is the complex calculation of dividing defined benefit plans like a pension or defined contribution plans like a 401k, that must be considered.

The guidance as to what is the fiscally responsible, or the financially wiser choice in each individual’s situation is invaluable. A keen understanding of executive compensation such as Deferred Compensation, Restricted Stock Units as well as company offered Stock Options  and how they are affected by vesting schedules and divorce will help to avoid many future financial regrets.

When the divorce process is complete, working with a CDFA that also works as a Divorce Financial Planner will bring the newly independent person clarity and confidence in  their financial future.

Schedule a Complimentary Meeting

Get Divorce Financial Planner Services

If you’re in the middle of a divorce and need help navigating the situation and managing your finances, we can provide assistance. Our certified divorce financial analysts can help you organize your portfolio and position your assets in an effort to ease the divorce process.

We’ll work with you to identify both short and long-term financial considerations to provide clarity regarding your financial future. Your financial advisor will be in your corner throughout the process and provide advice that will help you make responsible decisions for yourself, your investments, and your assets.

If you’re in need of divorce financial planner services, fill out one of our quick online forms to contact us today or call us at (847) 680-9050. We offer flexible meeting options, and we can meet with you before you meet with an attorney or we can meet while your attorney is present.

Four Surprises To Avoid While Going Through Divorce