Why is Divorce Financial Planning Important?
Financial planning during a divorce can help protect both of your assets and prepare each of you and your family to be able to move forward with financial security when you separate. Important areas on which to focus include…
Retirement Division, and
The Impact of Social Security Benefits
An integral part of your CMT© will be a Certified Divorce Financial Analyst (CDFA). A CDFA is a financial professional who is specifically trained in divorce-related aspects of financial planning. A CDFA can provide a cash flow analysis to evaluate options in division of assets, tax repercussions, and creative solutions to maximize financial settlements for the individuals and their family.
The CDFA designation is a professional certification. It includes specialized training including 3 years of financial planning or legal experience, a minimum of a Bachelor’s degree, completion of courses and a comprehensive exam administered by the Institute for Divorce Financial Analysts (IDFA).
Modern Mediation’s CDFAs help you focus on practical, unique solutions tailored to your specific financial estate.
They will offer suggestions and options for optimal ways to manage and divide your finances and assets. Typically financial and tax models are run to provide financial projections showing how each of you can be financially secure and maximize your wealth post-divorce and into retirement. These calculations provide helpful visuals in making long-term decisions.
Your initial mediation session will be with your Mediator as your guide and to provide a framework moving forward. Next, you will have a session with your CDFA to go over financial goals and review your financial estate. Further meetings may be individually or jointly with your Mediator and CDFA, depending on your particular situation. As part of your CMT©, these professionals will provide significant guidance and support to help you make the best decisions for moving forward.
Ready to Take the Next Step?
At Modern Mediation, we provide full boutique divorce support tailored to your specifications. Move forward in a respectful manner while maintaining control of your outcome.