Divorce Financial Planning Services

    WHAT IS A CERTIFIED DIVORCE FINANCIAL ANALYST (CDFA®)?

    How a CDFA® Can Help You During a Divorce

    A Certified Divorce Financial Analyst (CDFA®) is a professional who is specially trained to help you make financial decisions related to your divorce. Think of them as divorce financial consultants. A CDFA® can provide cash flow analysis to evaluate asset division, tax assessment and tax planning services for settlements, and determination of community and separate property.

    Qualifications for the CDFA® designation include three years of financial planning or legal experience, a bachelor’s degree and successful completion of coursework, and a comprehensive examination administered by the Institute for Divorce Financial Analysts (IDFA™).

    The bottom line is that a CDFA® helps you and your attorney understand how the decisions you make as part of your divorce agreement will affect your financial future. Additionally, once your divorce contract is finalized and your attorney's work is over, a CDFA® continues to provide support by helping you manage the money and other assets you receive.

    No matter what stage of the divorce process you’re at, EP Wealth Advisors can provide you with a customized financial roadmap, including a comprehensive financial health assessment.

    WHY IS FINANCIAL PLANNING DURING
    A DIVORCE IMPORTANT?

    How an EP Wealth Advisor Provides Financial Guidance During Divorce

    Working through alimony, child support, who remains in the family home and dozens of other decisions are critical during the divorce process. Where are you going to live? Will you have joint custody of minor children, or will one spouse be the primary custodian?

    No matter the answer, there is always a financial component. Divorce decisions may prove painful but you can count on a CDFA® to look out for your financial interests, now and in your post-divorce life.

    Change is inevitable and often unpredictable, but professional life transition planning in response to divorce or other major events like the birth of a child or retirement can ensure you are fully prepared for your story’s next chapter.

    FREE DIVORCE CHECKLIST

    Our Free Divorce Checklist Breaks the Process Down Into a Simplified Step-by-Step Guide.

    DOWNLOAD OUR FREE DIVORCE PROCESS CHECKLIST

    THE DIVORCE FINANCIAL PLANNING PROCESS

    Learn How the Divorce Planning Process Works
    and How a Financial Advisor Can Help

    Whether or not you initiate the divorce, it’s wise to involve a financial planner right away. Waiting until the divorce settlement is finalized is a mistake. You need someone reviewing all the financial consequences of your divorce as soon as possible.

    1

    Gathering financial information for disclosures

    We help you sort through all of the pieces of your financial life, even if you weren’t the spouse who handled the money matters. You will learn along the way as we educate you about your finances and evaluate what you have and ultimately what you want from a settlement.

    We work with you and your attorney or mediator to complete financial disclosures, review tax returns and other financial documents and review the financial information provided by your spouse.

    2

    Settlement negotiations - with a CDFA® on your side

    As the process unfolds, we work with you and the other professionals on your team. Even in a community property state, there are many creative ways to divide assets and liabilities so that you end up with the “half” that will provide you with the best financial future.

    If you are presented with a proposal from your spouse, we provide a detailed, comprehensive financial plan to show what that proposal means to you from an asset and cash flow point of view, both now and in the future. This allows you to make the best, and most informed, decisions during any negotiation.

    3

    After the settlement agreement - Creating a solid plan of action for your future

    Our divorce planning process continues after a divorce becomes final. We help you move forward with next steps such as:

    • Creating a new budget and implementing an appropriate financial plan and investment strategy
    • Making sure QDROS (if appropriate) are completed. and assets are transferred
    • Meeting with a CPA to discuss tax planning
    • Meeting with an estate planning attorney to create a new will or trust
    • Closing joint accounts and retitling assets
    • Protecting or establishing a strong credit history
    • Reevaluating insurance needs
    • Helping you track expected future streams of income
    • Setting goals and focusing on making plans for your future

    WHAT DOCUMENTS DO YOU NEED?

    Download Our Free List of Documents Your CDFA® Will Need for a Complete Divorce Financial Analysis.

    Download Our List Of Documents Needed For Divorce Financial Analysis

    WHAT IS AND ISN’T A FAIR DIVISION OF ASSETS

    How a CDFA®Can Help Determine What Is Truly a Fair Split of the Financial Pie

    Let’s say your spouse says, "Let's split everything 50/50 and get it over with." While this may be a reasonable solution, and in many states is required by law, we help you develop a strategy for dividing up the assets to provide the most benefit from a tax perspective, while ensuring the solution fits with your long-term financial plan.

    What might sound like a fair proposal on the surface might raise red flags with your CDFA®. Determining a fair split of employee compensation packages, privately-held businesses, professional practices, and other marital assets requires expertise that a professional financial advisor can provide.

    Take the basic matter of health insurance, for example. If you formerly received coverage through your spouse’s healthcare plan, you must now find an alternative. Your EP Wealth Advisor is ready for this challenge and can bring in a healthcare specialist to find you an affordable insurance plan.

    Perhaps you would like to stay in the family home. Maybe your spouse is willing to give it to you. It’s not a win for you if you cannot afford the property taxes and upkeep. A CDFA® takes a clear-eyed, unemotional view of the marital assets with the purpose of helping you in the long run, not just in the immediate aftermath of a divorce.

    IS A CDFA®A SUBSTITUTE FOR A DIVORCE LAWYER?

    The Role of the CDFA® in the Divorce Process

    A CDFA® is not a substitute for a divorce attorney. They cannot provide legal advice unless they are also licensed to practice law. However, a divorce financial advisor works in conjunction with your lawyer and other professionals on your team, such as a mortgage specialist or forensic accountant. Working with them we will create a detailed snapshot of your and your spouse’s current financial situations and create a clear plan for how you will achieve post-divorce financial security, not only right now but in 5, 10, 20 years and beyond.

    CONTACT AN EP WEALTH ADVISOR

    If you are going through a divorce, you want to know who can help and protect you financially. Schedule a consultation with an EP Wealth Advisor CDFA® today. We will review your financial portfolio and work with your lawyer to help you receive the settlement
    you deserve.

    FIND A FINANCIAL ADVISOR NEAR YOU

    Our breadth of coverage across the U.S. means we’re local—here to serve your needs at your convenience.

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