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Is it necessary to work with a CDFA?

On Behalf of | Nov 22, 2021 | Divorce

Many people get married in South Carolina, but divorce is still highly prevalent across all demographics. A CDFA, or Certified Divorce Financial Analyst, is a financial expert who has been specially trained in divorce financial issues. These professionals do their work through the collection of data, and they also provide an often-needed reality check for clients with unrealistic expectations.

CDFAs provide their expertise to guide you through all financial matters in the divorce process. You’ll know exactly what to expect through each step of the divorce proceedings, leaving you with no unpleasant surprises along the way.

Through the analysis of your financial data, a CDFA will go over the range of options in a divorce with their clients and help them understand the implications of each. CDFAs may be called upon by either a divorce lawyer or their divorcing client directly. In either case, they will work with your lawyer to determine what your best options are.

The financial aspects involved in a divorce are complicated and oftentimes messy. A traditional financial planner who has only undergone general training is unlikely to be prepared for the inflammatory issues that come with the ending of a marriage. Certified financial planners and financial advisors tend to be more focused on individuals and those who are in a stable partnership situation.

Who needs a CDFA?

You might not realize until the divorce is finalized that you’ve made some serious financial gaffs. This might come in the form of missed opportunities where you didn’t get your fair share in the deal.

During a divorce, obviously, emotions are tense and intense. It’s a stressful, exhausting time for everyone and hard to handle anything, let alone these complex matters. This causes people to make poor decisions during this time.

A CDFA fills a need that other professionals can’t. Divorce attorneys, accountants, or general financial advisors aren’t able to handle the unique financial aspects that a CDFA does.

It’s always hard going through a divorce, and you might make some costly mistakes if you don’t have the right kind of professional handling your finances. Working with a CDFA may be advisable if you have complex, high-value financial matters to deal with during this difficult time.