Working through the details of a divorce can be difficult. For many, the financial aspects of the process are daunting, and it can be hard to know which decisions will best support one’s future financial goals. That is why hiring the services of a Certified Divorce Financial Analyst (CDFA) on one’s divorce team is a wise choice for many Florida spouses.
A CDFA is a professional who is trained in the ins and outs of all things related to the financial aspects of a divorce. He or she will work with a client to determine his or her current financial standing, projected needs and long-term goals. From that point, advice is provided on how to leverage the property division portion of a divorce to best attain those needs and goals.
Creating and implementing budgets is also a speciality of many CDFAs. Divorcing spouses need to create a budget for their post-divorce lives and must ensure that the plan is one that is comprehensive, well-defined and simple to follow. Working with a CDFA can give spouses the tools they need to structure a solid financial future.
Florida spouses who are preparing to divorce often feel overwhelmed by the process, and may be reluctant to bring on yet another member of their divorce team. However, there are many scenarios in which a CDFA can provide a valuable service to individuals who are going through this major life transition. Taking the time to sit down with a CDFA and go over one’s particular set of circumstances can make it easier to decide if this additional level of financial support is justified.
Source: marketwatch.com, “6 critical steps to prepare your finances for divorce“, Shawn Leamon, July 15, 2016