The role of the CDFA® professional is to assist the client and his/her lawyer to understand how the financial decisions he/she makes today will impact the client’s financial future.
A divorce financial planner is a professional who specializes in helping individuals navigate the financial aspects of divorce. The main responsibilities of a divorce financial planner include:
- Assessing the financial situation: The planner will review the couple's assets, debts, income, and expenses to determine the current financial situation.
- Projecting future expenses: The planner will use financial modeling techniques to project the couple's expenses after the divorce, including living expenses, child support, and alimony.
- Negotiating a settlement: The planner will work with the couple and their attorneys to negotiate a fair and equitable settlement that takes into account the couple's financial situation and goals.
- Dividing assets: The planner will help the couple determine the best way to divide their assets, taking into account tax implications, liquidity needs, and long-term financial goals.
- Providing education: The planner will educate the couple on their financial options and help them understand the financial implications of their decisions.
- Offering guidance: The planner will provide guidance and support throughout the divorce process, helping the couple make informed financial decisions.
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