Certified Divorce Financial Analyst®
Financial problems can tear a marriage apart, and are often the primary factor that leads to divorce. Once the decision to separate or divorce has been reached, all sorts of questions bubble to the surface. These questions range from how to divide retirement funds and pensions, to identifying hidden assets/accounts, to identifying which tax issues to be concerned with, to who gets what property. Other than custody concerns, the financial considerations are commonly the most contested consideration of the final decree.
When people think about getting a divorce, the first professional that comes to mind is normally a lawyer. But many lawyers struggle with the intricate financial details that concern tax issues, capital gains, dividing pensions, and so on. Lawyers attend law school to become experts in the law, not to become financial experts.
This is where I come in. A Certified Divorce Financial Analyst® is a financial professional skilled at analyzing data and providing support on the financial issues of divorce. The role of the CDFA® professional is to assist the client and their attorney to understand how the decisions made today will impact the client’s finances tomorrow. Ultimately, hiring a CDFA® not only brings financial clarity to the negotiations, it may well shorten the process.
This is where we come in. A Certified Divorce Financial Analyst® is a financial professional skilled at analyzing data and providing support on the financial issues of divorce. The role of the CDFA® professional is to assist the client and their attorney to understand how the decisions made today will impact the client’s finances tomorrow.
At Trinity Financial Planning, we are trained to occupy the role of the CDFA® professional and become part of the divorce team. We can take on many roles in the divorce process including:
Identifying the short- and long-term effects of dividing property
Integrating tax issues
Analyzing pension and retirement plan issues
Determining if the client can afford the matrimonial home
Evaluating the client’s insurance needs
Establishing assumptions for projecting inflation and rates of return
Bringing an innovative and creative approach to settling cases
I help manage a client’s expectations of their financial future by presenting different scenarios and talking through their budget and expenses. In some cases, I may even be called upon to act as an expert witness in court or mediation proceedings.