If you are getting a divorce and retirement is near or you have not been very involved in the family finances, you might want to consider working with a certified divorce financial analyst. You might also benefit from the help of a CDFA in New York if you have other financial concerns.
What a CDFA can do
You may be unaware that someone like a CDFA exists, particularly if you have not been in charge of the finances and do not have access to the same network of professionals as your spouse. A CDFA may help protect you financially during and after divorce, helping to ensure that you receive an equitable share of the marital property. This might include some of the following services:
- Organizing financial records
- Identifying retirement and other financial goals
- Creating a budget for during and after the divorce
- Talking about investments
Understanding your options
Once you meet with a CDFA, you might realize that you and your spouse have more assets than you considered, such as jewelry, your wedding rings and your child's college savings account. A CDFA might also explain the potential tax implications of dividing certain types of property, or they could help you figure out whether you can afford to keep the family home.
These important financial decisions are often made from a more emotional basis during the stress of divorce, and the CDFA might help you look at property division in a more businesslike way. An attorney may be able to help you with the actual process of negotiating an agreement with your spouse although litigation is also an option if your spouse is uncooperative. If you do go to court, an attorney may also be able to help you prepare for this.