Similarly, if you’re going through a high-conflict divorce, she suggests hiring a CDFA to help you focus on making critical financial decisions. Those with larger or more complicated assets may find a CDFA extremely valuable in assisting in scenario projections during negotiations. While not everyone requires a CDFA, they must understand the divorce process and their financial options to assess the impact on their post-divorce life. When Do You Need a Certified Divorce Financial Analyst? Your divorce financial advisor will then assist you in gathering and organizing financial information and becoming aware of the financial options available.Īccording to Davis, CDFAs can help with valuing assets and debt, dividing retirement and pension accounts, alimony, the tax implications of property division, and establishing a realistic budget post-divorce. This process typically begins with establishing your goals and priorities in any settlement. While attorneys work to get you what you want and mediators work to help a couple agree on assets or custody schedules, a divorce financial advisor can help you understand the financial ramifications of your options and work to get you a fair settlement.” What Does a Divorce Financial Advisor Do?Ī divorce financial advisor can assist you in navigating the financial aspects and ramifications of a divorce. Calculating the tax implications of dividing stock options. Calculating the capital gains from selling the marital home.They are specifically trained to value assets and the issues arising when dividing property in a divorce. The certified divorce financial adviso r /analyst often identifies a divorce financial advisor. They are also familiar with the three stages of divorce: emotional, physical, and financial. “Divorce has many aspects, and not all advisors know what questions to ask or suggestions to offer when clients are going through a divorce.”ĭivorce advisors assist you with three distinct divorce areas: asset division, spousal maintenance, and child support. What is a Divorce Financial Advisor ?Ī divorce financial advisor has more experience and credentials than a traditional financial advisor in navigating the financial aspects of divorce, according to Samantha Garcia, a certified divorce financial analyst and wealth advisor at Halbert Hargrove. Just like a family law attorney focusing on legal issues and other resources help you with emotional support issues, similarly with a divorce financial advisor, you can make the best possible financial decisions concerned to divorce.ĭivorce financial planning aims to educate you on your options, the actual value of your assets, and how your divorce decisions will affect your finances. What is divorce financial planning?ĭivorce financial planning emphasizes developing personal and business financial strategies to assist an individual in obtaining the best divorce settlement possible. Stay tuned you might be just a step away from resolving your financial issues in a divorce plan. Here the question is, what is divorce financial planning, and how can financial advisors help? This is what an insightful blog post entails. While traditional financial advisors can assist you in developing a financial plan, decoupling assets when two become one requires a different level of expertise, which can only be obtained from a specialized group of divorce financial advisors. This is the most sensitive stage of life when emotions are at their peak thus, making the right decisions and considering other aspects of post-divorce decisions can be challenging for couples suffering. Divorce is a complicated, emotionally draining, and wilder step of life with many long-term ramifications.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |