How Can a CDFA™ Professional Help a Family Law Lawyer?
The attorneys we work with want 3 things in particular that a Certified Divorce Financial Analyst® provides specialized help with:
- They want quality financial advice.
- They want a professional to analyze and compare the financial and tax implications of different settlement options.
- They want to protect themselves from liability.
A CDFA™ can add value to your practice in all of these areas.
We help lawyers and their divorcing clients address the special financial issues of divorce with data that can help achieve equitable settlements. A CDFA™ professional is trained in:
- Collecting and analyzing data regarding the assets and liabilities of both spouses;
- Preparing Financial Affidavits as well as pre- and post-divorce budgets;
- Calculating the short-term and long-term effects of dividing property;
- Helping clients avoid tax traps;
- Analyzing pension and retirement plans;
- Determining the cost basis and capital gains on the sale of the marital home;
- Determining if the client can afford to keep the marital home, and if not, what he/she can afford;
- Evaluating the insurance needs of our clients;
- Determining earning capabilities and actual income (in the case of self-employed spouses);
- Discussing options for your post-divorce estate planning needs;
- Presenting evidence to show the financial impact of different settlement options – or information related to financial, tax, investment, or retirement plan issues – in meetings with our clients, the attorneys, in mediation or arbitration sessions, or in court.
We can help the client understand:
- Separate vs. Marital property
- Valuing and dividing property
- Debt, credit, and bankruptcy
- Retirement and pensions
- Spousal and child support
- Options for the Matrimonial Home
- Tax problems and solutions
We can help you to achieve the fairest, most financially equitable divorce settlement possible for your clients.
Humphrey G. Thomas, CDFA™ AAMS