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What is a CDFA?
on August 20, 2020The role of the CDFA® 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. After his divorce, David went to a financial advisor to determine how to best position his assets. Together, David and his p...
Read MoreAdvice from a Judge
on May 17, 2016A Family Court Judge talks about effective preparation for court – and how to achieve results in court by utilizing all available resources. By The Honorable Kathleen M. McCarthy Back in law school, my trial-practice professor lectured to us to always assume the judge knows nothing about the l...
Read MoreTop Ten Financial Errors in Divorce
on May 17, 2016Certified Divorce Financial Analysts from across the USA share some of the worst financial mistakes they’ve seen in their practices. 1. Terminating Supposal Support when a Child Reaches the Age of Majority With the assistance of their attorneys, a divorcing couple crafted a Property Settleme...
Read MoreTop Ten Divorce Tips
on May 17, 2016Certified Divorce Financial Analysts offer these tips to help you sidestep some common divorce-related problems. 1. Copy Your Records Before your divorce, be sure to make copies of all of your financial records. Keep them in a safe place away from your spouse. These records include, ...
Read MoreIDFA's Response to Divorce Corp Documentary
on May 17, 2016The Institute for Divorce Financial Analysts™ (IDFA™) would like to provide the following response to the documentary entitled “Divorce Corp.” Certified Divorce Financial Analyst® (CDFA®) professionals are hired to help manage client’s expectations, act as a financial expert, and ensur...
Read MoreTax Tips and Traps
on May 17, 2016Here are two topics you’d probably rather not think about: Divorce and Taxes. If you’re separated or newly divorced, however, it could be worth your while to get some good financial advice about both. By Diana Shepherd, CDFA® Spousal support Also known in some areas as “alimony” or “maint...
Read MoreLeading Causes of Divorce
on May 23, 2022Survey: Certified Divorce Financial Analyst® (CDFA®) professionals Reveal the Leading Causes of Divorce If you think that incompatibility, infidelity, and money issues can lead a couple straight to divorce, you might just be right. According to a recent survey of 191 CDFA professionals fr...
Read MoreSurvey: CDFA pros hired first
on May 21, 2015Survey: Separated People now Contacting Certified Divorce Financial Analyst® (CDFA®) Professionals Before Lawyers People at the beginning of the divorce process now recognize that the financial issues they’re facing are as important as the legal ones – and many of them are now seeking ...
Read MoreFinancial Health Checkup
on May 17, 2016Take this short quiz to find out whether you get a clean bill of financial health – or if you require emergency care. By Diana Shepherd, CDFA® 1) Do you have life insurance? a) yes b) no c) don’t know d) through my spouse 2) In terms of 401(k)s/IRAs/RRSPs, you: a) maximize contribution...
Read MoreAvoiding Common Divorce Pitfalls
on May 17, 2016
Certified Divorce Financial Analysts™ offer their best tips to help you avoid some of the most common mistakes made by divorcing people. Understand your financial and emotional limits. When you understand yourself, you are better equipped to be objective. This saves time, which leads to cost s...
Read MoreDiscovering your Financial Reality
on May 17, 2016Understanding your financial situation will give you a sense of control over your life – before, during, and after divorce. By Fadi Baradihi, MBA, CFP®, ChFC®, CLU, CDFA® When contemplating divorce, most people put themselves under undue stress worrying about their financial well-being. Mu...
Read MoreSurviving Financially After Divorce
on May 17, 2016How to prepare yourself to deal with the financial realities of divorce – especially in this tough economy. By Fadi Baradihi, MBA, CFP®, ChFC®, CLU, CDFA® More often than not, the standard of living of both spouses drops in the first few years after divorce. Why? Because the same cumulativ...
Read MoreTips: Avoiding Financial Traps
on May 17, 2016By Nancy Kurn, CPA, CDFA®, JD, MBA Here are some tips to help you avoid some of the common financial pitfalls of divorce. Negotiate a reasonable settlement. Get some professional advice from a CDFA or CFP® to make sure you’ll be able to live with the financial terms of the settlement – no...
Read MoreNegotiating your Future
on May 17, 2016When you’re negotiating your divorce settlement, preparation is the key to success. Are you really ready to negotiate your future? By Henry S. Gornbein and Fadi Baradihi, MBA, CFP®, ChFC®, CLU, CDFA® During the course of your marriage, you accumulated both assets and liabilities. Althoug...
Read MoreAvoiding Financial Disaster
on May 17, 2016Here are some tips to help you avoid making disastrous mistakes during your divorce. By Nancy Kurn, CPA, CDFA®, JD, MBA Many couples face financial uncertainty after they divorce. This is often the result of using the same income to pay expenses to operate two households instead of one. For ins...
Read MoreSettlement and Separation Agreements
on May 17, 2016What you need to know before creating a settlement or separation agreement. By Nancy Kurn, CPA, CDFA®, JD, MBA You’ve sat down with your spouse and hammered out what you think is a pretty great settlement: you get to keep all of the property you really wanted, and your ex gets stuck with all of...
Read MoreMaking your Case for Spousal Support
on May 09, 2017Many states and provinces consider your marital standard of living and your pre-divorce lifestyle as major factors in awarding spousal support. Here’s how to make sure the financial documents you create will work for you and not against you. By Michelle M. Smith, CDFA® You’re in your law...
Read MoreUnderstanding Spousal Support and How Alimony Works
on May 23, 2022What you need to know right now about spousal support -- in the United States and Canada. By Nancy Kurn, CPA, CDFA®, JD, MBA In North America, it’s the judge’s place to decide how the marital assets should be divided. By closely examining the assets of each spouse, the judge can determine i...
Read MoreWhat are Prenuptial Agreements & Marriage Contracts?
on May 23, 2022If you're thinking of taking the plunge a second time, you should consider whether you need the protection of a prenuptial agreement or marriage contract. By Nancy Kurn, CPA, CDFA®, JD, MBA A prenuptial agreement is a contract that two parties enter into in contemplation of marriage. It can a...
Read MoreProtecting your Credit Score
on May 17, 2016How to protect your credit score during divorce. By Elizabeth Cox, MA, CFP®, CDFA® Rachel is the sort of person who plays by the rules. A stay-at-home mother of three, she has always lived within the family budget and paid bills on time. When she and her husband, Jack, split up, she followed h...
Read MoreDividing Property During Divorce
on May 17, 2016Divorce is a time of emotional stress. It can be difficult to decide which property is "yours," "mine," "ours," or "theirs." Here are some pointers. By Tracy B. Stewart, CPA, PFS, CFP®, CFF, CDFA® When thinking about dividing property, draw four columns on a piece of paper; then follow these s...
Read MoreSafe Harbor
on May 17, 2016Here’s help navigating the financial dangers of divorce so you’ll reach safe harbor: a financially sound future. By Diana Shepherd, CDFA® While you were married, you and your spouse were co-owners of a “business”: your marriage. Like any business owners, you accumulated both assets and liab...
Read MoreTaking Control
on May 17, 2016Understanding your income and expenses will help you to gain control of your finances – and life – during divorce. By Diana Shepherd, CDFA® Here’s a question for you: do you have a written, detailed, up-to-date budget detailing all your daily, weekly, monthly, and yearly expenses and income? ...
Read MoreFinancial pros: who’s who
on May 17, 2016What do those letters that follow the names of financial experts mean? During your divorce, you need sound financial advice to ensure the settlement is fair to both parties; afterwards, you’ll probably need help adjusting to your new circumstances and planning for a secure future. Here’s an intr...
Read MoreYour Financial Pro
on May 17, 2016How to choose and work with a financial professional to achieve the best possible outcome to your divorce. By Diana Shepherd, CDFA® During and after divorce, many people report that their standard of living decreases – sometimes significantly. Unless you change your occupation for one with a high...
Read MorePost-Divorce Financial Pitfalls
on May 17, 2016By Justin Reckers (CFP®, CDFA®, AIF®) Without exception, our clients want to move on with their lives as quickly as possible after they complete the financial negotiations of their divorce. Moving on includes taking control of their own finances. There is a long list of things to do in order...
Read MoreSteering Clear of Financial Landmines
on May 17, 2016Understanding the financial and tax implications of your options – and avoiding financial landmines – is critical in creating a settlement that will last long-term. By Andrew K. Hoffman (FCA, CFP®, CDFA®) When negotiating your financial settlement, you need to know and understand the facts...
Read MorePost-Valentine's Day Divorce
on May 17, 2016Valentine’s Day may be for lovers, but the day after is all about divorce. “Valentine’s Day is full of expectations – and when those expectations are not met on what is supposed to be the most romantic and loving day of the year, divorce quickly comes to mind,” says Cathleen Belmonte Newma...
Read MoreTop Ten Divorce Terms to Know
on November 24, 2015One of the many things that makes divorce such a complicated and notoriously confusing business is the array of new terms, acronyms, and phrases tossed around throughout the process. Divorce has its own language, and it is important to be able to talk the talk with family lawyers, judges, collaborat...
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