Developing comprehensive insight of the short and long-term financial effects of divorce can save valuable time, money
and distress, especially if the process is conducted early in the legal proceedings. Many separating couples seek individual
legal assistance before assessing their financial situation. While lawyers serve a crucial role as individual
legal advocates, they are not necessarily there to explain financial consequences in detail.
Working with a client and their attorney, a Certified Divorce Financial Analyst™ can forecast the long-term effects of the settlement. By using a CDFA™, 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. CDFAs assist attorneys by helping their client make financial sense of proposals. CDFAs
also give attorneys the tools they need to help prove their cases.
Misinformation and misconceptions
about the divorce process can be detrimental. Many couples have false expectations that they will be able to secure a divorce
settlement allowing them to continue with their accustomed style of living. A Certified Divorce Analyst™ can help in
the analysis process to ensure a good, stable economic future and prevent long-term regret with financial decisions made during
the divorce process.
It’s important to realize
that divorce is the breakup of an economic unit, as well as, a family unit. The process should be approached as a dissolution
of a financial partnership, with each party attempting to remove the emotions from the process in order to develop a workable
plan. There are three common emotions that are prevalent in the beginning stages of a divorce: fear, anger and guilt. It can
be a role of the CDFA to recognize these emotions, determine where they are coming from, and help defuse them.
