Do I Need a Financial Advisor and a Divorce Lawyer?
A CDFA ™ can help you provide you with a clearer view of your financial future. With that clarity, you can negotiate a divorce settlement that fully addresses your immediate financial needs, and avoid long-term financial pitfalls due to poor choices made based on the lack of financial familiarity.
Working with you and your family law attorney, a CDFA ™ can forecast the long-term effects of various divorce settlement options, including tax liabilities and benefits, develop detailed household budgets to avoid post-divorce financial struggles, and help you think thought what your divorce will realistically cost in the long run.
If you're dealing with the intricacies of a divorce, you might start to wonder: Do I really need a financial advisor if I'm already working with a divorce lawyer? As you move through the divorce process, you will be required to make quite a few decisions regarding your future as a single adult. Working with a Certified Divorce Financial Analyst ™ may help ensure you are making fully informed decisions and may help also save you money and time during the divorce process.
You should think of your divorce as a financial transaction in which everything you own jointly and everything you owe jointly ar to be divided between you and your spouse. It is the unwinding of both an emotional and financial partnership.
To break it down simply, here's a handy list of the major differnces between what a financial advisor can handle and what your divorce lawyer can help you with.