California spouses will likely find themselves preoccupied with the emotional issues surrounding their divorce. Oftentimes, they will not think of their financial future until after the divorce is over. By then, it may be too late to put themselves on the right path. One way to avoid this is by hiring a certified financial planner who specializes in divorce, known as a CDFA.
A divorce financial planner can help by working with a person’s attorney to develop a picture of what their financial situation will look like after the divorce. The CDFA can gather expense information and compare that to the available assets to give their client a picture of what it will take to live comfortably after the divorce. They can provide both a big picture and a granular analysis of what their client will face.
Many spouses do not have any idea about how to start from scratch financially after being married for so long. Moreover, spouses are trying to handle their daily lives while the divorce is proceeding. Without more help, they could make poor financial decisions because they simply do not know what they need to do in the divorce to place themselves on solid financial footing. A CDFA may be especially helpful for spouses who may not have participated as much in the financial decisions of their household.
A family law attorney may give their client a complete picture of what they need to do and the professionals that they should consult to be in a better place financially. Without some extra help, people may find themselves lost when it comes to strategic planning during the divorce. Being successful is every bit as much about planning for the future as it is about the current negotiation of each term of the divorce agreement.