As a Certified Divorce Financial Analyst professional we can help with personal financial analysis, proposed settlement analysis, budgeting, retirement accounts and life insurance during divorce, and the execution of QDROs after divorce, with the help of an attorney.
A Qualified Domestic Relations Order (QDRO) is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse’s interest in that spouse’s share of the asset.
Contact me and I’ll send you a Free Client Divorce Toolkit – a 20 page magazine of useful articles, checklists and worksheets.
What is the CDFA Professional’s Role?
The role of the CDFA professional is to assist the client and his or her divorce attorney to understand how the financial decisions he or she makes today will impact the client’s financial future based on certain assumptions. A CDFA professional goes through an intensive training program to become skilled at analyzing and providing expertise on the financial issues of divorce.
The CDFA Professional:
Becomes part of the divorce team and provides litigation support for the divorce attorney and clients on financial issues such as:
- Understanding the short and long-term effects of dividing property.
- Understanding tax issues.
- Analyzing pension and retirement plans.
- Calculating the present value of a pension.
- Determining the cost basis and capital gains of the sale of the marital home.
- Determining if the client can afford the marital home, and if not, what he or she can afford.
- Evaluating the insurance needs of the client and determining if the client qualifies for COBRA.
- Determining earning capabilities.
- Establishing assumptions for projecting inflation and rates of return.
Brings an innovative and creative approach to settling cases.
Provides the client and divorce attorney with data that shows the financial effect of any given divorce settlement.
Appears as an expert witness in court or in mediation or arbitration proceedings.
Is knowledgeable about specific tax laws that apply to divorcing couples.
Has knowledge about the legal issues of divorce.
Is trained to interview clients to:
- Collect financial and expense data.
- Help them identify their future financial goals.
- Develop a budget.
- Set retirement objectives.
- Determine how much risk they are willing to take with their investments.
- Identify what kind of lifestyle they want.
- Determine what kind of education they want for their children.
Disclaimer: This information does not constitute advice in the area of legal, or tax advice. It is your responsibility to seek guidance and advice of your own legal and tax counsel.