The Collaborative divorce team can include the attorney, CDFA™, counselor and other professionals.
Many times, the CDFA™ is the finance professional working with the client’s team to achieve a mutually agreeable settlement, with absolutely no involvement from the Court.
Normally the CDFA™ role includes these categories:
- Gathering Data including identifying spending patterns, needs analysis, income history and potential, and asset and debt values, including investments, pensions and insurance.
- Understanding and prioritizing the client’s financial concerns and goals.
- Educating the client on financial concepts and bringing spouses up to speed on the state of their finances, while “leveling the playing field”.
- Providing creative options and strategies to encourage strategic compromises and settlements.
- Developing cash flow projections, including the tax impact and other financial considerations
- Elaborating on asset and debt division scenarios addressing the impact of taxes and comparing the various options for resolution.
I cannot and do not provide legal advice.