A CDFA® Professional 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.
I have heard it said many times that 'regret' is the most powerful feeling a person can have. It is certainly the case for those whose financial plan's did or do not take into consideration the future increases in taxes, both Federal and State but also the effect of taxation on one's Social Security income.
Education and Cutting-edge strategies are the most important aspects of financial planning to my clients. My team and I have spent since 2016 traveling all over the United States studying with the industry leaders in tax-efficient retirement strategies so that we could become the leader's in Dayton, OH in this aspect of retirement planning.
In 2019 I added an additional level of education to my practice that I have found is unavailable to most people. A Certified Divorce Financial Analyst® Professional (CDFA®) is someone who becomes part of the litigation team as the 'financial expert' to assist the attorney and the client to understand how the decisions he or she makes today will impact the client’s financial future.
A CDFA® Professional 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. I can work independently on a 'fee-only' basis or I can work with a client's litigation team for:
-Identifying the short-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—and if not, what might be 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
Divorce Financial Planning also:
-Provides the client and lawyer with data that shows the financial effect of any given divorce settlement
-Appears as an expert witness if the case should go to court, or in mediation or arbitration proceedings
-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
-Help client’s identify their future financial goals
-Develop a budget
-Set retirement objectives
-Identify what kind of life style they want and can afford
-Determine the costs of their children’s education