Financial Advisers May Help During Divorce Proceedings

Financial problems are the main cause of 22% of divorces that take place in New York and throughout America. If you are thinking about ending your marriage, it may be a good idea to consider adding a certified divorce financial analyst (CDFA) to your divorce team.

It isn’t uncommon for one spouse to make all of the financial decisions in a relationship. In some cases, this person is the only one who has access to bank accounts, brokerage accounts or other financial documents. Furthermore, this individual may be the one who has an existing relationship with the family accountant or wealth management specialist. By hiring a CDFA, you may be able to eradicate the fiscal knowledge gap between yourself and your spouse during settlement talks.

Your financial adviser can help you learn more about creating a budget, saving for retirement and how to reach future financial goals. If you have a child, this person can help you create ways to ensure that your son or daughter’s needs are met now and in the future. As a general rule, a CDFA is there to ensure that any decision that you make during the divorce process can help you to create a strong financial future.

A divorce can be an emotionally and financially difficult time in your life. The decisions that you make during the divorce settlement or litigation process may have repercussions for the rest of your life. Therefore, it may be a good idea to hire a team of professionals that includes a family law attorney. An attorney may be able to represent your interests whether you pursue a settlement through mediation or a trial.