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Who do CDFAs help? Certified Divorce Financial Analysts, CDFAs ,help clients determine the short term and long term financial impact of any proposed divorce settlement. They also provide valuable information on financial issues that are related to the divorce, such as tax consequences, dividing pension plans, continued health care coverage, stock option elections and much more. CDFAs also help attorneys by helping the client make financial sense of proposals. CDFAs give attorneys the tools they need to help prove their case.
Should a person hire a CDFA instead of an attorney? Definitely not! The Institute for Divorce Financial Analysts, IDFA™, highly recommends that any person getting a divorce seek legal counsel. The CDFA's role is to assist the attorney, not replace the attorney.
Do CDFAs help only men or only women? CDFAs are trained to advocate for men and women.The CDFA simply interprets the numbers and helps the attorney build a strong case that’s in the client’s best interest.
Can CDFAs act as a neutral party to help a couple reach a settlement? Many CDFAs are also trained mediators and often times take a role in facilitative mediation and collaborative law. However, CDFAs are not attorneys and cannot give out legal advice. The IDFA™ always recommends that any person going through a divorce receive independent legal advice.
Source: Institute for Divorce Financial Analysts. Used with permission. www.institutedfa.com
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