Do I Need a Financial Expert for My Divorce If I have a Divorce Lawyer?
We highly recommend that you work with a financial expert if you want to protect your financial interests. You should think of your divorce as a financial transaction in which the assets and liabilities are to be divided between you and your spouse. You may also need to prove or reject the request for spousal and/or child support payments. In the same way that a divorce attorney is a legal expert who is trained to handle legal issues (such as child custody, support payments) and advocate on your behalf, a financial specialist, especially a Certified Divorce Planner® (CFP®) and Certified Divorce Financial Analyst™ (CDFA™), is trained to analyze your financial data and provide you with sound financial advice for your divorce. A CFP® and CDFA™ can provide detailed and clear financial analysis and litigation support to your divorce attorney to help win the case.
Using a CFP® and CDFA™ can save you money and time during the divorce process. A CFP® and CDFA™ will help 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 intelligence.
Working with you and your family law attorney, a CFP® and 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 through what your divorce will realistically cost in the long run.