A divorce can be a high stress time. With 75% of the issues in a divorce being financial, it is important to have someone on your team who understands the divorce process and can help you achieve a settlement that works not only today, but 10, 20, or 30 years down the road.
With that in mind, Michael has earned a designation as a Certified Divorce Financial Analyst™.
A CDFA™ is someone who comes from a financial planning, accounting, or legal background and goes through an intensive training program to become skilled in analyzing and providing expertise related to the financial issues of divorce. The CDFA™ becomes part of the divorce team, providing litigation support for the lawyer and client, or becomes a member of a Collaborative Law team. In either event, the CDFA™ will be responsible for:
- Identifying the short-term issues and long-term effects of dividing property.
- Integrating tax issues.
- Analyzing pension and retirement plan issues.
- Determining if the client can afford the matrimonial home - or identify an affordable alternative.
- Evaluating the client's insurance needs.
- Establishing assumptions for projecting inflation and rates of return.
- Bringing an innovative and creative approach to settling cases.
The Certified Divorce Financial Analyst™ also:
- Provides the client and lawyer with the date that shows the financial effect of any given divorce settlement.
- Appears as an expert witness if the case should go to court, mediation or arbitration.
- Is familiar with tax issues that apply to divorce.
- Has background knowledge of the legal issues in divorce.
- Is trained to interview clients so as to collect financial and expense data in order to help identify future financial goals and developing budgets.
With that in mind, if you or a loved one is facing the stress and uncertainty of an impending divorce, you or your lawyer should give us a call. We would like to help.