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How could a CDFA help a divorcing spouse?

On Behalf of | Sep 15, 2021 | Family law

Effectively managing financial matters could keep someone going through divorce in a good fiscal position even under trying circumstances. Spouses filing for divorce in Delaware likely realize that their financial responsibilities and costs may increase, but they may not realize how expensive things could become. Working with a certified divorce financial analyst, or CDFA, may help them deal with the proceedings’ monetary challenges.

Working with a professional CDFA

Credit counselors and financial advisors could be helpful to those struggling financially. Spouses suffering through divorce proceedings might rely on these professionals’ assistance, but they may discover one drawback: These professionals might not specialize in divorcing clients. A CDFA, on the other hand, has attained a certification establishing extensive knowledge in fiscal matters related to divorce.

A divorce could bring many additional financial concerns and worries. For example, after a person has been living in a shared house for years, apartment-seeking as a single individual might become daunting. Budgeting for these living arrangements and other expenses may come with challenges, and mistakes may prove costly.

Newly single persons may face the consequences of debts and taxes accumulated during the marriage. A CDFA could help those wondering how to solve their fiscal predicament.

Relying on professional assistance

A CDFA could perform a full accounting of all assets and liabilities. Family law cases may involve negotiating settlements that divide assets and establish who pays what debts. With a CDFA’s assistance, an individual might see a better picture of a financial situation.

Budget planning might become a top priority for someone exiting divorce court. Knowing how to budget housing and daily expenses may lead to questions about insurance, health care and more. Improperly budgeting these many things could lead to financial disaster. A certified divorce financial analyst can’t guarantee any outcomes, however, so clients must make proper decisions to increase the chances for a positive result.