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A Certified Divorce Financial Analyst is a professional financial analyst and advisor who brings his or her expertise in tax and financial issues to a divorce case. Your divorce lawyer may have recommended the services of a Certified Divorce Financial Analyst for a number of reasons, probably based on the complexity of your finances. The Certified Divorce Analyst may:
Financial Planning Experience and Knowledge
A Certified Divorce Financial Analyst has a minimum of two years of professional financial planning or legal experience. He or she has also completed a rigorous program and examination by The Institute for Divorce Financial Analysts.
Complex Financial Issues
A divorce can have long-lasting, profound effects on the finances of each spouse, and the couple's children, if any. The complexity of the finances of many couples, plus that of the current tax code, often oblige a divorce attorney to recommend the services of a Certified Divorce Financial Analyst. Issues involving matters such as the following are commonly handled by a Certified Divorce Financial Analyst:
Toward an Equitable Settlement
The job of a Certified Divorce Financial Analyst is to advise and help, and sometimes to mediate. A divorce settlement that is equitable and satisfactory to both parties in the divorce is the ultimate goal of the CDFA. Sometimes, the long-term financial consequences of a divorce are not foreseen by the divorcing spouses or their attorneys; a CDFA can bring his or her financial expertise to the case to protect one or both spouses.
However, a CDFA is not a replacement for a divorce attorney, and any CDFA will tell you that he or she is not acting in the role of attorney. The CDFA's role is to help the divorce attorney (or attorneys) arrive at a fair financial arrangement. CDFAs can't give legal advice.
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