Frequently Asked Questions
- Who do CDFAs help?
- Should a person hire a CDFA instead of an attorney?
- Do CDFAs help only men or only women?
- Can CDFAs act as a neutral party to help a couple reach a settlement?
Who do CDFAs help?
CDFAs help clients understand the short- and long-term financial impacts of any proposed divorce settlement. They also provide valuable information on financial issues related to the divorce, such as tax consequences, dividing pension plans, continued health care coverage, stock option elections, and much more.
CDFAs also help the client’s legal team make financial sense of proposals. CDFAs provide expert witness testimony in trials and arbitrations. CDFAs can provide attorneys with tools they need to prevail in court.
Increasingly, CDFAs are finding their services called for in the mediation and family counseling arenas. Information helps alleviate fears and misunderstandings that surround money issues.
Should a person hire a CDFA instead of an attorney?
Definitely not. The ICDFA, Institute of Certified Divorce Financial Analysts, highly recommends that any person getting a divorce seek legal counsel. Divorce is a legal process that requires professional advice, just as the financial aspects of a property settlement need analysis by a professional trained in the field.
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 parties find support for a case that takes both sides’ financial future into consideration.
Can CDFAs act as a neutral party to help a couple reach a settlement?
Many CDFAs are also trained mediators and take a role in facilitative mediation and collaborative law. In this role, CDFAs do not act as attorneys and cannot offer legal advice. The ICDFA always recommends that any person going through a divorce receive independent legal advice.