Divorce Financial Services
Division of assets is one of the biggest issues of the divorce process, and one of the most stressful. Too often, the emotion and confusion of an adversarial process cloud the real issues, making a truly equitable split difficult to achieve. Many times, simple fear of the road ahead (and the uncertainty of the financial implications of the settlement) is what fuels the “messiness” of the divorce process. This inevitably makes the divorce more painful for everyone, especially when there are children involved.
And that is what our Divorce Financial Services are about—taking as much emotional stress out of the process as we can. With specialized education, mediation skills, years of experience, and tools to clearly demonstrate the meaning of the numbers, we can help you confidently take control of the process and of your own financial future.
Who Needs Divorce Financial Services?
No two divorces are exactly alike but nearly everyone going through a divorce will benefit from the specialized services of a Certified Divorce Financial Analyst.
Ideally, both people in a divorcing couple will be interested in a fair and equitable settlement. If this is the case, we will simply gather all the information and develop a plan that will work for both, taking into account both present and future financial implications. Everyone benefits from this process – most especially the children.
One half of a divorcing couple may also retain us to prepare a settlement for proposal or to review a proposed settlement to confirm that it is fair and reasonable – and to devise a counter-offer if warranted. Many people choose this option for their own peace of mind, even if the divorce is amicable.
In an adversarial situation, we may be retained by one of the parties to demonstrate equity (or inequity) of a proposed settlement. Many attorneys work with a CDFA on a regular basis to provide the financial documentation that is necessary to win a settlement. We also have the necessary credentials to appear in court as an expert witness – sometimes even at the request of the court.
Regardless of the tenor of the situation, our specialized education and experience make us uniquely qualified to sort out the division of assets when a marriage is dissolved.
What Can We Do for You?
Here is a preview of how our divorce financial analysis and planning services can help you:
We can save you time.
The average length of a divorce process in the U.S. is one year. Most of this time is spent by each party trying, often in distrust, to get a clear understanding of the financial implications of a settlement, both now and in the long term. We can demonstrate in clear, concrete terms, via easily understandable charts and graphs, what “proper” division looks like. Once the skepticism is overcome, the process can move toward an end.
We can save you money on legal fees.
A legal settlement that floats back and forth between attorneys because their clients are skeptical of the financial ramifications can be very costly in billed-by-the-hour attorney's fees and court costs. We can help clarify all the detailed implications, adding confidence to the process.
We can help you avoid long-term financial pitfalls related to the divorce agreement.
We can forecast the long-term effects of the divorce settlement, including details of all tax liabilities and benefits. A long-term forecast of the financial situation is far more meaningful than a short-term snapshot. Wise financial decisions should be made based not only on immediate family needs but also on long-term needs like college and retirement.
We can help you avoid post-divorce financial struggles by factoring a monthly budget into the settlement.
We can help clients think through what the divorce will really cost in the long run and develop a realistic monthly budget as part of the financial analysis process. Your overall budget, with expenses such as life insurance, health insurance and cost of living increases, should always be taken into consideration when agreeing upon a final financial settlement.
We can help reduce apprehension and distrust throughout the divorce process.
Misinformation and misconceptions about the divorce process are common and most often detrimental. Many have false expectations about what they can expect out of a divorce settlement. Financial divorce analysis focuses on realistic settlement goals and helps to ensure a good, stable economic future – without long-term regret over decisions made during the review process.