Most people in Maryland know that getting a divorce will have an impact upon their finances. Yet they may not realize just how extensive that impact may be. The process itself takes special attention to detail, and many of those details can be easily overlooked. This is why some divorce experts recommend working with a certified divorce financial analyst. It can save the person time and money in the long run as well as provide peace of mind that the entire process of divorce was handled effectively.
Money is often a factor in many divorces and can be a contentious issue for both spouses. In some cases, one spouse may earn more than the other or even have a better grasp of the family’s finances. This can put the lower-earning spouse at a disadvantage come divorce time.
A certified divorce financial analyst can work as part of a divorce team to prioritize a client’s present and future financial needs. He or she often helps clients with many aspects of personal finance, such as creating a budget and planning for retirement. A CDFA will often think of assets or accounts that a person may not even consider.
It is imperative that anyone going through a divorce considers their full financial picture. Some people let their emotions make choices about financial matters that pertain to a family home or child support, which can have significant consequences. The CDFA can help clients take emotion out of the equation and simply think in terms of what financial choices now will help facilitate future goals.
Besides a certified divorce financial analyst, anyone getting a divorce here in Maryland should consider working with a divorce attorney. An experienced attorney can work with other divorce professionals to create a comprehensive divorce agreement. Doing so could be the first step towards a new future.