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Top 5 Reasons to Use a
Certified Divorce Financial Analyst
The average length of the U.S. divorce process is one year. In the beginning stages of the process, both parties spend a great deal of time trying to get a clear understanding of the financial aspects and terminology of the separation. A Certified Divorce Financial AnalystTM(CDFATM) can explain all financial aspects of the pending decisions and help to empower their client to make educated decisions throughout the proceedings.
2) A CDFATM can help their client save money during the divorce process.By using a CDFATM, you can have a clearer view of your financial future. Only then can you approach a legal settlement that fully addresses your financial needs and capabilities. A legal settlement that floats back and forth between attorneys, without the client having a clear understanding of all financial ramifications, can be detrimental, time consuming and expensive. A CDFATM can educate their clients by providing a thorough knowledge and understanding of the often-complicated financial decisions.
3) A CDFATM can help their clients to avoid long-term financial pitfalls related to divorce agreements.
Working with a client and their attorney, a CDFATMcan forecast the long-term effects of the divorce settlement. This includes details of potential tax liabilities and benefits. Developing a long-term forecast for their financial situation is far better than a short-term snapshot. Financial decisions must be made that not only take care of immediate family needs, but retirement needs as well.
4) A CDFATM can assist their clients with developing detailed household budgets to help avoid post-divorce financial struggles.A CDFATM can help clients think through what the divorce will really cost in the long run and develop a realistic monthly budget during the financial analysis process. Expenses such as life insurance, health insurance and cost of living increases must be taken into consideration when agreeing on a final financial settlement.
5) Using a CDFATM can reduce apprehension and misunderstanding about the divorce process.Misinformation and misconceptions about the divorce process can be detrimental. Many have false expectations that they will be able to secure a divorce settlement allowing them to continue with their accustomed style of living. Financial divorce analysis can help to ensure a good, stable economic future and prevent long-term regret with financial decisions made during the divorce process.
--Provided by the Institute for Divorce Financial AnalystTM.
Securities offered through National Planning Corporation (NPC), Member FINRA/SIPC. Wealth Strategies Group and NPC are separate and unrelated companies.
Advisory Services offered through Wealth Strategies Advisory Group (WSAG).