“A CDFA professional is someone who comes from a financial planning, accounting or legal background and goes through an intensive training program to become skilled in analyzing and providing expertise related to the financial issues of divorce.”
– Institute for Divorce Financial Analysts
So you’re considering divorce? It is unfortunate it has come to this point but we are here to help. If you are like other business owners, or spouses of business owners, then divorce planning is a new concept for you. In fact, it is probably fair to say friends and family have encouraged you to simply hire an attorney and ride the roller coster through the divorce process. That could be a costly mistake. While we do not replace the divorce attorney, we become an integral financial expert within the divorce team. Our Certified Divorce Financial Analysts will help you prepare for your divorce by creating unaudited financial statements, calculate pension values, assess business and private assets, seek equitable distribution scenarios, evaluate the impact of alimony and child support payments, and much more.
Schedule a time to speak with our team!
Who should be on my Divorce Team?
Entrepreneurs and Executives seeking divorce usually turn to professionals to help them. In many cases these professionals are apart of a team. Unfortunately the divorcing party is usually overwhelmed with the emotions so they are not always aware of who should join their “divorce team”. From our experience, and through the partnership we share with many divorce lawyers, the following members should join a client’s divorce team:
- Divorce Attorney
- Certified Divorce Financial Analyst
- Therapist (for the divorcing party & for any children)
- Realtor (for family home)
- Estate Attorney (to update estate documents after divorce)
What is a Certified Divorce Financial Analyst (CDFA®)?
According to the Institute for Divorce Financial Analysts “a CDFA® professional is a financial professional skilled at analyzing data and providing expertise on the financial issues of divorce. The role of the CDFA® professional is to assist the client and his or her attorney to understand how the decisions he or she makes today will impact the client’s financial future. A CDFA® can take on many roles in the divorce process:”
- Financial Expertise and Strategy
- Data Collection and Analysis
- Expert Presenter and Litigation Support
What is Divorce Financial Planning?
Divorce Financial Planning is NOT traditional financial planning. Divorce Financial Planning is NOT forensic accounting. Divorce Financial Planning is NOT legal advice.
Divorce Financial Planning IS a combination of all of the above (minus actual legal advice).
Our Certified Divorce Financial Analysts act as the financial expert on the divorce team and work with divorce attorneys to determine what an equitable distribution should be before the property settlement agreement is reached. For example, as clients are arguing over their assets, or income, it is difficult to understand how the settlement will impact their financial future. This is where calculating the impact of alimony, child support, and the percentage of property distribution at dissolution will determine how far someone is from reaching their long term goals.
Why hire a Certified Divorce Financial Analyst?
Beyond the fact that a CDFA® can save the divorce attorney time (and you money) by calculating the balance sheet, income statement, cash flow statement, pension values, and assisting with the calculation of illiquid / private assets they can act as an expert witness. Acting as an expert witness means the divorce attorney can call the divorce analyst to testify on the calculations of assets and income in order to support the desired equitable distribution.
Our Certified Divorce Financial Analysts at C-Suite Planning™ will help you prepare for your divorce by creating unaudited financial statements, calculate pension values, assess business and private assets, seek equitable distribution scenarios, evaluate the impact of alimony and child support payments, and much more.
Schedule a time to speak with our team!