Oklahoma residents going through a divorce may be overwhelmed. There are a lot of emotions that go into divorce, as well as logistics that need to be figured out. One of the more overwhelming subjects for many couples includes splitting their financial assets.
Many people hire professionals to help them with accounting during and after the divorce. One such professional is a Certified Divorce Financial Analyst (CDFA).
What is a Certified Divorce Financial Analyst?
CDFAs are experts in how to handle your finances during a divorce. In addition to the years of experience they bring, CDFAs have to undergo a special training process before becoming certified. These experts advise and assist in financial asset distribution during divorce and can assist in setting up finances after divorce. CDFAs begin advising during mediation and ensure you exchange accurate information with your spouse.
Why finances are difficult in divorce
Married couples without a prenuptial agreement typically slipt assets and debts equally unless the court requires other measures. During the marriage, dual incomes are usually combined into one account that the debt payments are withdrawn from, allowing both parties access to the combined funds. After divorce, assets and debts are split, as well as income, which some individuals may find maintaining their previous lifestyle more difficult to achieve, especially if one spouse has a significantly better-paying job.
Why should you hire a CDFA?
The CDFA’s rates are steep, making hiring assistance difficult. Still, the expert service ensures you’re protecting your future as a newly single individual and even help you create a budget for your life after divorce. Obtaining financial assistance before, during, and after divorce can help keep your assets safe, budget well in hand and the division process simple.