During the Divorce Process

1) Financial analysis conducted early in the divorce process can save time.

The average 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 a clear

understanding of the financial aspects and terminology of the separation. A

Certified Divorce Financial Analyst(CDFA) can explain all financial aspects

of the pending decisions and help to empower their client to make educated

decisions throughout the proceedings.

2) A CDFA can help their client save money during the divorce process.

By using a CDFA, you can have a clearer view of your financial future. Only

then can you approach a legal settlement that fully addresses your financial needs

and capabilities. A legal settlement that floats back and forth between attorneys,

without the client having a clear understanding of all financial ramifications, can

be detrimental, time consuming and expensive. CDFA's can educate their clients

by providing a thorough knowledge and understanding of the often-complicated

financial decisions.

3) A CDFA  can help their clients to avoid long-term financial pitfalls related

to divorce agreements.

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 situation is far better

than a short-term snapshot. Financial decisions must be made that not only take

care of immediate family needs, but retirement needs as well.

4) 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 the financial analysis

process. Expenses such as life insurance, health insurance and cost of living

increases must be taken into consideration when agreeing on a final financial

settlement.

5) Using a CDFA can reduce the amount of apprehension and

misunderstanding about the divorce process.

Misinformation and misconceptions about the divorce process can be detrimental.

Many 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 a good, stable economic future and prevent long-term

regret with financial decisions made during the divorce process.