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What does a certified financial divorce analyst do?

On Behalf of | Aug 3, 2022 | Divorce And Family Law

Although many Missouri couples marry thinking they’ll live happily ever after, that doesn’t always happen. Divorce can occur for a number of reasons. While going through a split, some couples can benefit from working with a certified divorce financial analyst.

What is a certified divorce financial analyst?

A certified divorce financial analyst (CDFA) is a professional who helps people going through a divorce and their attorneys to reach a fair settlement. CDFAs use their specialized knowledge of finances and tax law to help in all financial aspects of a divorce. They are not legal experts, but they are financial professionals who know how to get as equitable a split as possible for spouses who need assistance.

What kind of help can a CDFA provide?

If a divorcing couple is unable to reach an agreement on all the financial matters of their divorce, including asset division, alimony, child support and debt division, a CDFA could provide valuable information to them. Having a financial analysis performed in the early stages of a divorce can also help spouses save money and precious time on how they will handle these matters.

A CDFA can advise on a client’s potential financial situation once the divorce is final. They could also help devise a budget that the person might expect to have at that point. However, a CDFA can also:

  • Determine the value of marital and separate assets and debts
  • Determine the value of the marital home
  • Help with dividing the spouses’ retirement and pension accounts
  • Suggest the amount of alimony and how long it should be paid
  • Determine any tax implications of property division

CDFAs are required to go through extensive educational training. They are required to earn a Bachelor’s degree and have three years of experience on the job. However, it’s also possible for a person to become a CDFA without a Bachelor’s degree as long as they obtain five years of job experience.

These professionals need to maintain a level head while dealing with divorcing couples. Stress and high emotions often go hand-in-hand with the work of a CDFA.