When your Massachusetts marriage runs its course, you may need to rethink your financial future and figure out how to maintain a lifestyle similar to the one you enjoy now without your one-time partner. Some people in your shoes choose to add certain financial professionals to their divorce teams to help them do this, and one such professional many people rely on is a Certified Divorce Financial Analyst.
According to SmartAsset, a Certified Divorce Financial Analyst has certain credentials that make them well-suited to help you navigate your divorce. You may want to add a CDFA to your divorce team if any of the following holds true.
You want extra help with asset division
Asset division is often complex, and a CDFA may be able to help you work through many aspects of it. This individual may serve in a mediator capacity while you work through dividing assets, or he or she may be able to help you figure out the value of certain assets so that you may divide their worth appropriately. Dividing retirement funds may prove especially complex, and a CDFA may be able to assist you in this area, too.
You need to make a case for alimony or child support
A CDFA may also be able to help you showcase a genuine need for alimony or child support and do the necessary calculations to determine how much of each you might need.
You want to understand tax ramifications
A divorce affects how you pay taxes, and a CFDA may be able to help you anticipate the tax implications of your split and plan for them accordingly.
While these are some of the areas a CDFA may help you navigate, this is not a comprehensive summary of everything these financial professionals do.
