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How a CDFA may be helpful in a divorce

On Behalf of | Aug 17, 2020 | Divorce

Some people in Florida who are going through a divorce might want to consider working with a certified divorce financial analyst. A CDFA may be able to help individuals save money over the long run, but many people are unaware that such a professional even exists.

Help with divorce finances

A CDFA is uniquely qualified to hone in on the issues that may arise during and after divorce. A CDFA can help an individual organize their finances and make a post-divorce budget and financial goals. This can help people understand what they need for financial stability after the divorce and help prevent common financial errors, such as keeping a home they cannot afford. A CDFA may also be able to point out assets that a person has not considered, such as family heirlooms and jewelry.

CDFAs may also provide helpful investment advice. While a CDFA may be particularly useful for someone who has not had much experience dealing with the marital finances, anyone may benefit from their services.

Help with retirement planning

Another group that might find a CDFA particularly useful is older adults who are divorcing close to retirement. These individuals often have less time remaining in the workforce to rebuild savings after a divorce, so a CDFA can help in planning for a more secure retirement.

Working with a CDFA may better prepare you for the process of property division and give you a good sense of the points you can afford to compromise on and those you cannot. You might be able to reach a divorce agreement with your spouse through the process of negotiation, which is often less stressful and expensive than litigation. However, if this is not possible, you may go to court where a judge will make a decision.