When you get a divorce, one of the first things you need to do is figure out your finances. This can be a daunting task, especially if you’re not used to managing money on your own. A certified divorce financial analyst (CDFA) can help you through this process by providing expert advice and guidance on financial matters related to divorce.
Who is a CDFA?
A certified divorce financial analyst is a professional who has been trained to provide financial advice and guidance to people going through a divorce. A CDFA can help you understand your financial situation, identify any assets or debts you may have, and develop a plan for dividing your assets in a fair and equitable way. For instance, a CDFA can help you determine how much alimony or child support you may be entitled to receive.
When should you get a CDFA?
You should consider hiring this professional during the divorce process when you are trying to come to an agreement with your spouse on financial matters. In this case, the CDFA can help you negotiate a fair and equitable settlement. You may also want to consult with a CDFA after your divorce is finalized, in order to get help with financial planning and budgeting for your new life as a single person. Last but not least, if you are considering a divorce but are not sure if it is the right decision for you, a CDFA can also provide guidance on the financial implications of divorce.
If you are considering hiring a certified divorce financial analyst, it is important to choose someone who you feel comfortable with and who has the experience and knowledge to help you through this difficult time. You should also make sure that the CDFA you choose is a member of the Institute for Divorce Financial Analysts (IDFA), which is the leading organization for this profession.