For many couples, a divorce may be the most trying period of their lives. Not only must they deal with emotional repercussions, but they must also perform the monumental task of dividing a shared life.
Often, this takes a much greater financial toll on families than anticipated. Shared assets and shared debts must be dealt with fairly. Couples used to having combined incomes, or stay-at-home spouses who are not accustomed to working, must face an entirely new financial reality. This is where a Certified Divorce Financial Analyst, or CDFA, can help. CDFAs are deeply familiar with the financial pitfalls of divorce. They can help explain often-confusing choices and help clients to traverse the difficulties ahead.
By giving clients a clearer view of their options in the divorce process, CDFAs can help people save money. They can also help to predict the long-term implications of the divorce settlement, including tax benefits and liabilities, current financial requirements, and even retirement needs. Finally, they can address immediate needs, helping to create realistic new household budgets.
About Paul Vorstadt: A Certified Divorce Financial Analyst and a financial planner, Paul Vorstadt possesses experience in divorce settlement, wealth preservation, portfolio-building, and retirement income planning.
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