If you and your spouse are going through a divorce and your assets include things such as multiple real properties, rare artwork or collectibles, retirement and pensions, business and corporate interests, stock and stock options, intellectual property, investments, or accounts receivable, you and your spouse may want to seek the advice of a Certified Divorce Financial Analyst (CDFA), a professional who is trained and has passed certain tests to become a financial analyst specializing in divorce issues. During a divorce you will be identifying and dividing assets and determining the long-term financial impact of the divorce on these assets. The fallout caused by uninformed decisions and poor financial choices can last a lifetime.
Preparation and knowledge are essential to ensure your financial security. An experienced divorce financial professional can help you navigate these waters.
At Divorce Mediation Group, our mediators will often suggest that the parties visit with a CDFA for advice and then return to mediation with that CDFA's findings in hand, which then can be incorporated into their Marital Settlement Agreement. This makes for a more efficient mediation process, allowing the parties to settle other issues such as custody and support during their mediation session.
Certified Divorce Financial Analyst Thea Glazer, CFP, CDFA, AVA, MS Accounting, of Glazer Financial Advisors in San Diego, asks clients to consider the following in sorting out the financial aspects of their divorce. Many people don't consider some of these areas until they are in the thick of mediation and not thinking as clearly as they would had they sought the advice of a professional beforehand:
• Calculating income available for support
• Tracing income and assets
• Spousal support buyouts
• Stock option and restricted stock analysis
• Calculating marital standard of living
• Moore-Marsden/2640 reimbursement calculations
• Retirement and pension plan analysis
• Settlement structuring: Valuing, dividing, trading off community assets/debts
• Employee benefits and deferred compensation analysis
• Developing future budgets/needs analyses
• Investment income projections
• Projecting after-tax cash flow and providing “what-if” scenarios
• Completing DODs (Declarations of Disclosure)
• “Streamlined” business valuations (not for trial use)
• Spousal support buyouts
• Stock option and restricted stock analysis
• Calculating marital standard of living
• Moore-Marsden/2640 reimbursement calculations
• Retirement and pension plan analysis
• Settlement structuring: Valuing, dividing, trading off community assets/debts
• Employee benefits and deferred compensation analysis
• Developing future budgets/needs analyses
• Investment income projections
• Projecting after-tax cash flow and providing “what-if” scenarios
• Completing DODs (Declarations of Disclosure)
• “Streamlined” business valuations (not for trial use)
Consider meeting with a CDFA before you tackle the division of assets in a complex divorce matter. After all, the ultimate goal is for both parties to be financially secure and independent. A CDFA can help you meet that goal.
For more information about how a CDFA can help you, click on the link to Thea's website:
by Kim Werner
kwerner@ncrconline.com
kwerner@ncrconline.com
4 comments:
I think it's a good idea to get some things out of the way first before you jump into the big topics. Figuring out custody and stuff is a big deal and you want to make sure that you give enough time for that. A lot of things go into figuring that out.
Anita Mas | http://www.divorcemediationtallahassee.com/mediation-and-attorneys
My sister used mediation services when she was going through a divorce. I'm happy she was able to end the divorce on a good note and that it wasn't nasty like many divorces. I've seen too many friends go through terrible divorces.
Jessie | http://www.divorcemediationtallahassee.com/mediation-and-attorneys
Mediation is one way to go; getting a family law attorney is another option. You want to exhaust all the other options first before securing the services of a lawyer. Even when a divorce is finalized, there is usually a grace period of ninety days before it is final.
Paul | phillipsmithattorney.com
My parents went through a tough divorce last year after 34 years of marriage. It was an unbearable mess for our whole family. I am glad however that we did have a mediator to make the process a little easier. http://www.buchelawlv.com/services.html
Post a Comment