In California divorces with substantial assets at stake, it can be difficult to reach what both sides believe is a fair resolution. A common problem is that the parties are unsure of how to value their property and are concerned about not receiving what they are entitled to. In these situations, a Certified Divorce Financial Analyst could be helpful.
What does a Certified Divorce Financial Analyst do?
A CDFA performs several functions. They help with assessing the couple’s finances during a divorce. Since asset values can fluctuate and societal changes can impact people’s finances, the CDFA understands inflation, appraisals, appreciation and depreciation of assets.
They use software programs specifically designed for this purpose. For example, if a couple owns a home, its value can vary based on its location, condition, size and more. The CDFA will account for these considerations to gauge how it could be split in a reasonable way.
The CDFA is trained in issues that affect a divorcing couple including spousal support, child support, property division, how much the divorce itself costs and taxes. The CDFA might only be beneficial in specific circumstances. A high-asset divorce is one of them. A couple that has major assets, commingled property and those who are worried about shoring up their future can use this type of professional advice.
Being fully protected in a high-asset divorce
Divorce is a life-changing event and people can feel overwhelmed. There is a temptation to try to get it over with as quickly as possible. Despite that, it is wise to remember the importance of being fully shielded. A CDFA can be integral to the process along with other professionals and can assist with trying to reach a positive outcome.