A Certified Divorce Financial Analyst® (CDFA) is a professional ready to assist with specific financial issues during divorce. Divorce not only dissolves a marriage, it also divides the property owned during the marriage. The division of property includes houses, cars, bank accounts, retirement account and debt. An attorney helps a client navigate through the law and court system to a final divorce. The addition of a CDFA is advisable if there are considerable financial accounts, properties or pensions.
A CDFA is not always an attorney, but has training in divorce procedures and laws. A CDFA is experienced in defining and categorizing property, determining the value of retirement plans, providing options for the marital home, understanding the fundamentals of alimony and child support and the affects of divorce on Social Security benefits. A CDFA is also knowledgeable regarding the tax issues of divorce such as the tax implications of dividing property, selling the marital home, transferring retirement benefits, and spousal support.
The division of assets and finances at divorce is final. Hiring a CDFA as part of your divorce team is a smart decision. The CDFA's hourly rate is typically less than an attorney's hourly rate and a CDFA brings specialized skills to help you make sound financial decisions.
The information above is intended for education purposes only and does not create an attorney-client relationship. The laws above are specific to Texas, because that is the only state in which The Law Office of Jennifer Hastedt, PLLC practices.