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What is a certified divorce financial analyst?

On Behalf of | Mar 11, 2022 | Family Law

Are you considering ending your marriage in Louisiana? There are many things that you need to think about before you decide on your final move. One of them will certainly be the state of your finances. No one wants to leave a marriage bankrupt. Here is what a certified divorce financial analyst can do to help you.

How can you protect your finances during divorce?

A certified divorce financial analyst, or CFDA, can help you split your assets in a way that is fair, balanced and acceptable to both sides. This is one of the first people you should be talking to once you have made the decision to divorce your spouse.

Your CFDA will be able to give you advice on how to determine both the short and long-term value of each of your assets. These assets can include:

  • Real estate property
  • Retirement accounts
  • Life insurance policies
  • Retirement pensions
  • All expenses related to the maintenance of your assets

It’s important for you to realize that a straight 50/50 split of all of your assets isn’t always the most desirable outcome. Your CFDA will work with you to determine a split that is based on the realistic value of your assets. This value will take into account the performance of these assets in days to come.

What can a CFDA do to help you?

Your divorce may be complicated by a number of factors, such as a prenuptial agreement. If this is the case, you can work with your CFDA in order to iron out these issues. The goal should be to settle them in an equitable manner so that the court won’t have to do the division for you.

A CFDA can also be of great assistance when it comes to formulating a post-divorce budget that you can live on. This will be a total tallying up of all of your assets and expenses. Once you have the total, you can budget yourself to live in a comfortable manner.