![]() In addition to providing an overview of financial strategies and analysis, a CDFA will also drill down on more specific issues such as tax consequences of settlements, how to divide pension plans, stock options and other assets, the impact of health care coverage, life insurance, and the implications of splitting the family home and other real property interests.Ī CDFA can also assist with budgeting for post-divorce to give a client an idea of what to expect going forward and help to readjust expenses, investment portfolios and financial goals after the fact. This collaborative approach makes a CDFA a valuable voice to support an attorney’s efforts and may include providing testimony as an expert witness and deep analysis of business, financial and personal asset records.Īttorneys are well versed in legal aspects and may have a certain degree of financial knowledge when it comes to divorce, but a CDFA is specifically trained to deal with the financial impacts and long term implications that a divorce can create. What does a Certified Divorce Financial Analyst do?Ī CDFA takes the team approach and provides expert financial counsel to an attorney and other advisors for a client specifically working through the issues of a divorce. ![]() Whether you need a CDFA if you have a lawyer.The difference between a CDFA and a forensic accountant. ![]() financial advisor: what’s the difference? What point in the divorce process to hire a CDFA.Where can I find a Certified Divorce Financial Analyst near me?.What financial information do I need to prepare for divorce financial planning.Do I really need a Certified Divorce Financial Analyst?.What does a Certified Divorce Financial Analyst (CDFA) do?.So, what does a Certified Divorce Financial Analyst do? And do you really need one? That’s why it’s so important to understand the impact of your decisions so you can avoid costly mistakes.Įnter a Certified Divorce Financial Analyst. It’s also riddled with financial and tax landmines. You see, divorce is likely the single biggest event of your financial life. And in today’s turbulent financial climate, most people need a financial expert who can guide you since, regardless of what you’ve had written into your separation agreement, debts, inflation and the Income Tax Act will over-ride it.Many people (mistakenly) believe that their lawyer can handle all aspects of their divorce. But dissolving a family and financial units requires more than just a legal eagle. People who believe lawyers know it all are likely thinking that those running shoes they have go with everything! If you’re thinking to yourself, “Shouldn’t my lawyer be able to do this for me?” you’re so yesterday. Vacillating between a lump-sum payout and on-going support? A divorce financial specialist can show you how options will impact you in the now and in the future. Going through a Gray Divorce and focused on retirement and estate planning? A Certified Divorce Financial Analyst can help. So what do CDFA’s do? What are CDFA’s? These are the people who are trained to deal with all the issues related to divorce and money. ![]() Let me introduce you to the right shoe: a Certified Divorce Financial Analyst, or by their acronym CDFA, for ease of fit. It’s the wrong shoe and it just doesn’t fit. Ridiculous! And yet, every day, people ask their divorce lawyers to be their financial guides. How about trying to shovel two feet of snow in stiletto heels. Imagine heading out for a night of dancing in your rain boots. A CDFA is a Certified Divorce Financial Analyst.
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