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What is the role of a certified divorce financial analyst?

On Behalf of | Nov 19, 2021 | Divorce

There are many things to consider when you have concluded that your marriage should end. You may want to enlist the services of a certified divorce financial analyst in Texas to help you. It’s important to know what role this professional plays.

What is a certified divorce financial analyst?

A certified divorce financial analyst, or CDFA, is skilled in financial areas related to divorce in Texas. Usually, the CDFA works with your attorney and may have additional training with a background in law and finance. They can help to settle matters in your divorce such as child support, spousal support and division of property. They also have additional training to coach you in matters such as taxes related to divorce, retirement and more.

When do you need a CDFA?

Not every couple going through a Texas divorce needs a CDFA. However, if you and your spouse have any complexities in your assets, you might want to hire professional help. The certified divorce financial analyst can go through your assets and property and put a value on everything if it isn’t clear.

If you need assistance with budgeting once your divorce is final, the CDFA can help you with that as well. They can evaluate your finances and determine how much money you should consider in your regular budget after matters related to the divorce such as alimony and child support have been settled. They can also give you a better idea about the situation with your taxes after the divorce as people who file as single rather than married typically don’t get as many tax breaks.

What to look for in a CDFA

Once you have decided that you want to hire a CDFA to help with your divorce in Texas, you should always do your homework. Ask around to see if friends or family members have recommendations. You will want to ensure that any CDFA you choose has the right credentials.

Interview a few prospective CDFAs you are considering. You will want to find someone you can trust to help you through the details of the divorce.