What is Divorce Financial Planning?
Regardless of where you are in the divorce process, the reasons for the divorce, or your ability to continue to jointly make decisions; the outcomes of the divorce process will have a big impact on your future well-being. The addition of a trained financial professional to your divorce team can help you have a better understanding of your financial situation and will give you a sense of control over your life before, during, and after your divorce.
As a Certified Divorce Financial Analyst (CDFA) I can add financial objectivity and clarity to an otherwise challenging and highly emotional process. The opportunity to add value is not dependent upon the divorce option you choose -traditional litigation, -mediation, -collaborative, or even if you plan to -do it yourselves.
Critical financial issues to address during divorce:
- Realistically assess your financial situation
- Understand the value of your assets
- Realize you may not be able to afford the family home
- Recognize your standard of living may decline
- Understand the importance of retirement assets
- Look at several divorce settlement options
- An adversarial approach to divorce can be emotionally and financially expensive for both the short and long run