Going through a divorce involves working with several different professionals, including a divorce lawyer, a divorce mediator and a divorce financial analyst. One professional you may not be familiar with is the Certified Divorce Financial Analyst (CDFA).
Who is a CDFA?
A CDFA is a divorce financial analyst who has been specially trained in divorce financial planning. They understand the financial aspects of divorce and can help you make informed decisions about your divorce settlement.
What does a CDFA do?
A CDFA can help you understand the financial implications of divorce and assist you in negotiating a fair divorce settlement. One of the main things a CDFA can do is help you determine what your assets and liabilities are worth. This is important because it will help you determine how to divide your assets and debts in a divorce.
A CDFA can also help you understand the tax implications of divorce and how to minimize the taxes you pay on your divorce settlement. They can also assist you in creating a budget for your post-divorce life.
Lastly, a CDFA can provide you with support and guidance during the divorce process. They can help you navigate the often-complex divorce process and make sure that you are making informed decisions about your divorce settlement.
How do you choose a CDFA?
First, you want to make sure that the analyst is certified by the International Association for Divorce Financial Analysts (IADFA). This certification ensures that the analyst has received training in divorce financial planning and is up-to-date on the latest divorce financial planning strategies.
You also want to make sure that the analyst has experience working with clients who are going through divorce. Ask the analyst for referrals from past clients and meet with at least two or three of them to get a sense of their experience.
Finally, you want to make sure that you feel comfortable with the analyst and that they are someone you can trust. This is important because you will be sharing sensitive financial information with the analyst and you want to make sure that they are someone you feel comfortable working with.
Ultimately, you want your divorce process to be as smooth and stress-free as possible. That’s why working with a Certified Divorce Financial Analyst can be an invaluable resource.