Going through a divorce brings so many challenges. Parenting plans for the kids, if you have any, all the changes in your daily routines and habits, very often a change in residence, loss of friendships and more. I usually find that one of the the biggest issues of all, is dividing assets- all your “stuff’ both tangible and financial.
The question always rises: “How can I get through this in the easiest way?” I am not suggesting that divorce could ever really be considered “easy.” But there are resources to help you get through the process in a less stressful and more focused manner.
Supporting yourself with a team of professionals who will guide you through the process to help you achieve the best outcome for today and your future is one of the smartest things you can do at this juncture. One member of the team- a neutral financial professional- can help both of you achieve a fair and equitable financial settlement. Certified Divorce Financial Analysts (CDFATM) are trained in the fundamentals of divorce and finance and have extensive experience in meeting the special needs of divorcing couples. Knowledge of financial planning concepts and divorce financial issues enable your CDFA to provide you with a structure and a process to help you to design your optimal financial settlement.
There are so many things to consider when trying to fairly divide your assets and debts, find ways to live within your new means, and develop your financial future. A CDFA can work simultaneously with both of you. They help you gather the necessary financial information to help you understand your economic situation and help to provide a structure and process for you both to discuss your concerns, with your questions heard and dealt with respectfully.
It is common in most relationships for one of you to be more financially savvy than the other. That person usually handled the financial matters for both of you. Often couples request that the less financially savvy spouse receive additional assistance to help bring them “up-to-speed.” By helping the “non-financial” spouse to be better informed and confident on financial issues, informed decisions can be made, and the process can move forward more easily.
A neutral financial specialist is cost-effective for you in several ways. First, only one professional may be needed – not one for each of you. Second, the initial process often takes place without attorneys present, saving their hourly costs. Most importantly, they provide focused financial expertise that often results in creative and effective financial solutions. They are trained and experienced in researching and analyzing personal, business and tax issues in divorce.
With the right professional expertise, working in Collaborative process can help you to take some of the stress out of your divorce, and help to make your process more successful emotionally and financially.
