While many people have heard of divorces being settled in Mediation without hiring attorneys, most people have not considered hiring a financial expert to guide them through their divorce process. You may think that your attorney will help you sort out your finances – but this is almost never the case – it’s just not what they are trained to do. Working with a CDFA™ professional can help your divorce in several ways.
CDFA™ professionals have relevant experience and have completed a credential program focusing on the financial implications of divorce and how to navigate them. Attorneys and Mediators are not trained to handle the financial intricacies of your divorce, and many don’t want to. CDFA™ professionals have expertise in the area of divorce finance and are uniquely qualified to help you understand the financial considerations of your divorce and how to make smart decisions during this difficult time in your life.
A CDFA™ professional will guide you through the divorce process, help value your assets, and work with you and your spouse to come up with a creative settlement agreement that helps to equitably give both spouses what they want. A legal 50/50 split is often not the best answer, all things considered.
If you struggle with understanding how much your lifestyle costs or are concerned about what type of lifestyle you will be able to afford post-divorce, a CDFA™ can work with you to develop a long-term plan to better understand what your financial future will look like given different settlement options. When both parties know that they can come to an agreement that allows them both to feel financially secure, the divorce process tends to move much more smoothly.
A CDFA™ can work with you and your spouse as a financial neutral or on your behalf as a financial advocate and provides a rational perspective to an emotionally charged situation. Don’t agree to a settlement without understanding how it will impact your financial future.