Blog

 

The decision to leave one’s marriage is an extremely difficult one, fraught with emotion, and a seemingly endless series of complex, far-reaching decisions that could impact your children, your income and assets for years to come. It’s no wonder that those experiencing marital transition often become overwhelmed, leading them to make decisions against their best interest.

The process of divorce is clearly defined as a legal dissolution or termination of a marriage. However, marital transition is a bit broader and can include any of the following stages, pre, and post-divorce:

At any of these stages, engaging the services of a Certified Divorce Financial Advisor (CDFA®) is a worthwhile investment in your peace of mind that sound financial decisions are being made.

What is a CDFA®?

 

A CDFA® acts as a liaison between the client, and divorce mediators and matrimonial attorneys, specializing in guiding clients in navigating all financial issues and decisions surrounding divorce from assessing their options for fair and equitable settlements.

Certification is granted by the Institute for Divorce Financial Analysts to applicants who complete a four module independent study program. Eligible applicants must possess a Bachelor’s degree and at least three years experience in the financial or legal fields, including:

While your mediator or matrimonial attorney will focus on the legal aspects of the divorce, throughout the marital transition, the CDFA® professional assists the client with:

With the ability to collect financial and expense data, develop budgets, identify future goals, and assess the financial impact of a proposed divorce settlement, a CDFA® is an essential member of your marital transition team.

In fact, given their ability to provide practical and actionable information from the get-go, CDFA®s are quickly becoming the “gatekeepers of divorce”, a role historically held by therapists as the ideal first professional to consult with prior to beginning divorce proceedings.

Engage the services of a CDFA to ensure that your interests are addressed as early as possible. Prior to your first meeting, it’s a good idea to make note of the priorities for both you and your spouse in terms of:

Download my PDF worksheet: Divorce Priorities Checklist to help you get started. Laying out the high-level priorities will help structure the planning that you will do with both your CDFA and attorney.