Divorce financial advisors do something similar but target their advice to issues that commonly arise during the divorce process.Ī divorce financial advisor may hold a professional designation as a certified divorce financial analyst (CDFA). If you already know that you could benefit from working with a financial advisor, consider using SmartAsset’s free tool to find one who serves your area.įinancial advisors work with clients to help them create a strategy for managing their money and achieving their financial goals. Understanding what a divorce financial advisor can (and can’t) do can help you to decide if working with one makes sense. Hiring a divorce financial advisor is something you might consider if you’re concerned about reaching an equitable agreement with your soon-to-be former spouse. Getting divorced can take a toll mentally and emotionally, but it can also upset your financial plans. We bring together experts to help you prepare for divorce, including Certified Divorce Financial Analysts.SmartAsset: Divorce Financial Advisor: When to Hire One Sign up for the next Second Saturday Divorce Workshop near you. If you need a CDFA in Austin, TX, contact Second Saturday Leader Melanie Johnson at Divorce Financial Solutions. Still not sure if hiring a CDFA is right for you? Find one near you and meet them in person. A Certified Divorce Financial Analyst will give you a realistic vision of your financial situation after your divorce so that you can plan and prepare with confidence. This fear may even keep women in unhappy or abusive relationships. So many women are terrified of becoming “bag ladies” after their divorce. Provides ongoing financial counseling after the divorceĪ good CDFA can truly do a lot, but perhaps their greatest skill is to help alleviate your financial fear and uncertainty as you approach your divorce.Models your net worth, cash flow, savings and investments for the near and distant future after divorce.Helps you create a realistic budget during and after the divorce.Educates you about the complex financial aspects of your divorce, including the tax implications of dividing assets.Makes strategic recommendations to negotiate your divorce settlement (often at a lower hourly rate than a divorce attorney).Helps you understand the full financial implications of your divorce.Helps you re-assess your risks and reimagine your estate planning needs.Helps you work through complicated financial issues, such as ownership stakes in businesses or stock options owned by one spouse.Identifies retirement accounts and pension funds.Helps determine if you can ask for child support and how much.Helps you determine if you can ask for alimony and how much.Determines which property is separate property (yours or your husband’s) and what is marital property that needs to be divided in the divorce.Figures out all of the assets and debts that you and your spouse own. ![]() ![]()
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