FINANCIAL TOOLKITS
What is a Certified Divorce Financial Analyst®?
A CDFA® is a person with a financial planning, accounting or legal background who completes an intensive training program to become skilled in the financial issues of divorce. The CDFA® analyzes and provides expertise to assist the client and their attorney to understand how the financial decisions they make today will impact their financial future.
What does a CDFA® do to help clients and their attorneys?
The CDFA® becomes part of the divorce team, providing litigation support for the lawyer and client, or becomes a member of a Collaborative Law team. In either event, the CDFA® will be responsible for:
- Identifying the short-term and long-term effects of dividing property.
- Integrating tax issues.
- Analyzing pension and retirement plan issues.
- Determining if the client can afford the matrimonial home – and if not,
what might be an affordable alternative. - Evaluating the client’s insurance needs.
- Bringing an innovative and creative approach to settling cases.
The Certified Divorce Financial Analyst® also:
- Provides the client and lawyer with data that shows the financial effect of any given divorce settlement.
- Appears as an expert witness if the case should go to court, or in mediation or arbitration proceedings.
- Is familiar with tax issues that apply to divorce.
- Has background knowledge of the legal issues in divorce.
- Is trained to interview clients so as to:
- Collect financial and expense data.
- Help client’s identify their future financial goals.
- Develop a budget.
- Set retirement objectives.
- Identify what kind of life style they want.
- Determine the costs of their children’s education.
A CDFA® helps their client or attorney stay focused on the case so that the CDFA® can manage the financial details of the divorce arrangement.
Please note neither LPL Financial nor any of its representatives render tax or legal advice.