Top Five Reasons for Hiring a Certified Divorce Financial Analyst®

May 9, 2023
By Alternative Divorce Solutions

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™) professional 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 professional, 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 professionals can educate their clients by providing a thorough knowledge and understanding of the often-complicated financial decisions.3. A CDFA can help his/her clients to avoid long-term financial pitfalls related to divorce agreements:Working with a client and their attorney, a CDFA professional 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 professionals can assist their clients with developing detailed household budgets to help avoid post-divorce financial struggles:A CDFA professional 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 professional 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 theThis article is a contribution from Evan Lavoie, a certified divorce financial analyst in Orange County. We are proud to refer our clients to Evan. His committment to helping his clients is evident in his work and his passion in helping couples make the best financial decisions in the midst of divorce. To find out more about Evan, visit him at Turner Wealth Group or LinkedIn. Categories Divorce

Related Posts

Is Mediation the Same as Divorce?

Is Mediation the Same as Divorce?Divorce is rarely an easy choice to make. Deciding to end your marriage can have inevitable and lasting impacts on your life and future. While summoning the courage to ask for a divorce can be emotionally draining, there are many other decisions that soon-to-be divorcees must make after the paperwork […]

read more

How Do I Handle Valentine’s Day After Divorce?

Staying PositiveValentine’s Day can be difficult for those who have gone through a divorce. Knowing how to celebrate the holiday can be hard when your relationship is no longer intact. If you are struggling to figure out how to handle Valentine’s Day this year, don’t worry! We are here to help. In this blog, we […]

read more

Are Divorce Mediators the Same as Divorce Attorneys?

Divorce Mediators vs. Divorce Lawyers: What’s the Difference?Deciding to end a marriage is never easy. For many couples, the choice to file for divorce can lead to more overwhelming decisions, responsibilities, and a never-ending list of tasks. From hiring an attorney to modifying living arrangements to forming a financial plan, choosing to end a marriage […]

read more