One of the most important aspects of divorce is figuring out how to divide up the assets and debts of the marriage. This is where a Certified Divorce Financial Analyst (CDFA) can be invaluable.
Who is a CDFA?
A CDFA is a financial professional who has been trained in the financial aspects of divorce. They can help you and your lawyer understand the financial implications of different settlement options and ensure that any agreement you reach is fair and equitable.
CDFAs are especially helpful in cases where a lot of money or property is at stake. However, they can also be beneficial in cases where one spouse is self-employed or other complicating factors. For instance, if you have a family business, a CDFA can help value the business and determine how it should be divided in a divorce.
What are the main roles of a CDFA?
The key role of a CDFA is to provide financial analysis and support during divorce proceedings. They can help you understand different settlement options’ short- and long-term financial implications. They can also assist with property division, spousal support and child support calculations. For instance, if you and your spouse are considering a shared parenting arrangement, a CDFA can help you understand the financial implications of that decision.
CDFAs also play a vital role in mediation and negotiation. For example, they can provide objective information about the financial aspects of divorce and family law, which can help spouses reach a fair and equitable settlement agreement. In some cases, a CDFA may also be able to provide expert testimony in court, especially in cases where the financial aspects of divorce are complex.
If you are considering a divorce, it may be worthwhile to consult with a CDFA to better to understand the financial implications of different settlement options. You never know; it could make all the difference in reaching a fair and equitable agreement.