Benefits of a Certified Divorce Financial Analyst®
For couples with high net-worth, the division of assets and the management of finances during and post-divorce can add additional complexity to this already emotionally trying transition.
To effectively manage the transition through divorce and the years following, it is important to have a knowledgeable financial advisor for a divorcing spouse who was not regularly involved managing the details of her/his finances, taxes, and investments during the marriage.
Involving a Certified Divorce Financial Analyst® (CDFA®) during a divorce gives clients improved ability to find, value, and evaluate the couple’s assets, liabilities, compensation, and available retirement and employee benefits, particularly when complexity exists.
Previewing post-divorce financial life during the proceedings affords the client the opportunity to shape the settlement in a way that best positions the client for successfully managing their finances once the divorce is finalized.
A CDFA® assists in setting up budgets, record-keeping and investment strategies for the coming years. He/she is instrumental
in establishing a team of professionals, and coordinating their efforts to manage, preserve, and transfer net-worth. Your Boston Financial Management CDFA® will also play a significant post-divorce role in helping settle any loose ends with the former spouse and his/her professional advisors.
Alisa Kim O’Neil, JD, CTFA, AEP®, CDFA®
A CDFA® can provide the following services
during the divorce process:
Pre Divorce
- Evaluate all assets and liabilities, and current and future income streams and expenses
- Review complex retirement, benefit and compensation plans
- Prepare post-divorce budgets and cash flow forecasts
- Assist attorneys in proposing an equitable and financially feasible division of assets and liabilities
- Prepare a comprehensive personal financial plan
Post Divorce
- Coordinate a team of professional advisors – tax, legal, investment, insurance, banking, etc.
- Work with investment manager(s) on the deployment of funds
- Ensure that assets and accounts are properly titled, including but not limited to, all estate planning documents, beneficiary designations, Health Care Proxies and Powers of Attorney, benefit plans, and insurance policies to reflect appropriate beneficiaries, and ensure debts are extinguished per the divorce decree while confirming the names on existing debt are appropriate
- Meet regularly to discuss budgets, liquidity, and the creation, management,
preservation, and transfer of wealth; serve as a trusted advisor on all financial matters - Manage the settlement of obligations and entitlements of divorce with the ex-spouse and his/her professional advisors