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Financial analysis conducted early in the divorce process can save time.
On average, the length of the U.S. divorce process is one year. In the beginning stages of the process, both parties spend a great deal of time trying to get an understanding of the financial aspects and terminology of their separation. A Certified Divorce Financial Analyst (CDFA) can explain all financial aspects of the pending decisions and help empower their client to make educated decisions throughout there divorce case.
A CDFA can help their client save money during the divorce process.
By using a CDFA, you can have an accurate projection of your financial future. Allowing you to approach a legal settlement that fully addresses your financial needs. A legal settlement that floats back and forth between attorneys, without the client having a clear comprehension of all financial ramifications, can be detrimental, time consuming and expensive. CDFA educate their clients in providing them a thorough knowledge and understanding of complicated
financial decisions.
CDFA’s can help their clients avoid long-term financial pitfalls related
to divorce agreements.
While working with a client and their attorney, a CDFA can forecast the long-term effects of the divorce settlement. This includes details of all tax liabilities and benefits. Developing a long-term forecast for their financial suture is far better than a short-term snapshot. Financial decisions must be made that take
care of immediate family needs, but retirement needs as well.
CDFA’s can assist their clients with developing detailed household budgets to help avoid post-divorce financial struggles.
A CDFA can help clients think through what the divorce will really cost in the
long run and develop a realistic monthly budget during there financial observation process. The cost of living increases must be taken into consideration when agreeing on a final financial settlement.
Using a CDFA can reduce the amount of apprehension and
misunderstanding about the divorce process.
In many case clients are Misinformed about the divorce process, which can be detrimental to the outcome of there case. Clients may have false expectations that they will be able to secure a divorce settlement allowing them to continue with their accustomed style of living. Financial divorce analysis helps to ensure your stable economic future and prevent long-term regret with financial decisions made during the divorce process.
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