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Understand the role of a certified divorce financial analyst

On Behalf of | Oct 2, 2020 | divorce

Divorces can get complicated because it’s often hard to divide assets and negotiate issues like child custody. When one spouse has more money and power than the other, a certain amount of bullying can happen, too. Married people in Florida should know that there are specialist financial planners who can help ensure an equitable divorce.

What a CDFA does

A certified divorce financial analyst works with their client and the client’s lawyer. CDFAs are financial planners who have additional training in handling divorces. They need to take classes and pass a test in order to get certified. CDFAs are incredibly useful in helping their clients get a clear picture of their finances.

CDFAs break down household finances to show how much money clients are spending and earning. These professionals are a great resource for budget creation and retirement planning. CDFAs can help their clients understand what their objectives should be in terms of their settlements. These professional services are an upfront cost that can pay real dividends down the line. Without a CDFA on their team, a divorcing spouse may be pressured into accepting a low-ball offer.

In addition to helping determine what kind of settlement their client will seek in the divorce, CDFAs help people prepare for life after divorce. Having a clear picture of what the financial future will look like helps clients immensely. It can prevent overspending and future financial hardships.

Legal help during divorce

Anyone going through a divorce needs financial and legal advice. An experienced attorney may be the first and most important part of someone’s team during a divorce, but a certified divorce financial analyst is an increasingly popular advisor for individuals going through divorce.