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Nine Critical Financial Issues To Address During Divorce
Divorce has a way of pulling the rug out from under you, even if you are the one who initiated the divorce. The adversarial nature can cause the process to be extremely expensive, and there are usually no “winners” in divorce. Splitting one household into two only multiplies the cost. However, education, planning and rational thinking can help curb the financial impact. At such a time, knowledge about finances and avoidance of costly mistakes can be highly empowering.
Continue reading...Coerced Debt: What Divorce Professionals Need to Know About Proposed Changes for Victims of Domestic Financial Abuse
The Consumer Financial Protection Bureau (CFPB) has issued an advance notice of proposed rulemaking that could bring critical changes for survivors of domestic financial abuse, particularly concerning coerced debt. This proposal presents an opportunity to enhance protections for victims, and as divorce professionals, it’s essential to stay informed on these developments as they may directly impact your practice.
Continue reading...Don't Underestimate a Credit Report
As an attorney, I handle numerous discovery requests in my cases, yet it’s rare for anyone to request a client’s credit report. Overlooking this critical document is a missed opportunity for Certified Divorce Financial Analysts (CDFAs) to gain valuable financial insights. Both your client’s credit report and the opposing party’s report can reveal essential details that are often pivotal in divorce cases.
Continue reading...The Elephant in the Room: Separate Property
There are conversations we as CDFAs can expect to be difficult. In fact, there can be traps and pitfalls anywhere, and we must always be aware of our clients’ reactions to navigate difficult discussions successfully. I have learned that clearly defining the steps and the decisions we will be working to find agreement on goes a long way towards setting expectations early. Normalizing conversations about property division and income sharing (and, of course, quantifying its effect with the use of analysis and reports) can help reduce clients’ anxiety.
Continue reading...Strategic Mortgage Planning During Divorce: The Critical Role of Child Support as Qualifying Income
When dealing with mortgage financing after divorce, issues related to child support can significantly impact the process. Here are some key points to understand and consider before accepting a final settlement proposal.
Continue reading...Credit Score and Credit Depth Catastrophes
How divorce can derail your credit and what to do about it.
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Financial Advisor to CDFA: Why Diversifying Your Expertise Matters
Thinking about advancing your career in finance?
If you're intrigued by the idea of specializing in divorce-related financial intricacies, becoming a Certified Divorce Financial Analyst (CDFA) could be the perfect path for you. Let's delve into what it means to be a CDFA and how it differs from the role of a Financial Advisor.
Continue reading...Beyond the Numbers: CDFA Impact in Mediated Divorces
Professional expertise can significantly enhance the overall experience and outcomes of divorce mediation. One key player in this arena is the Certified Divorce Financial Analyst (CDFA).
Continue reading...A Great Untapped Source for Clients: Wealth Management Firms
If you are working as a Certified Divorce Financial Analyst® professional, you’ve probably networked with Family Law Attorneys, Marriage and Family Therapists, Estate Planning Attorneys, Mediators, and even Certified Public Accountants. But you might be missing a big opportunity to acquire new clients if you are not having conversations with wealth management firms.
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