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The role of a CDFA in Georgia

On Behalf of | Sep 1, 2022 | Divorce, Divorce Law |

Certified Divorce Financial Analysts – known as CDFAs – aren’t exactly a common divorce tool for most Georgia residents. However, they might be a very useful resource for couples who need help navigating their finances during the divorce process.

What makes a CDFA special

Certified Divorce Financial Analysts are trained accountants that can help couples with their finances. Not only do CDFAs have years of experience working with people going through a divorce, but they must go through specialized training and certification before they’re allowed to offer CDFA services.

CDFAs can help answer difficult financial questions, including how to split retirement accounts and similar assets during the divorce. They can help you figure out alimony and even budget for your life as a single individual.

Who might need a CDFA?

Couples who consider themselves to be high net-worth or have a lot of complicated financial questions might benefit from hiring a CDFA. Individuals who are worried about protecting their finances during the divorce or might not know what questions will also benefit from hiring a CDFA.

It’s all too common for couples to get tied up in emotions during a divorce. A CDFA can help you plan for the long-term as well as protect your finances while your thinking might not be clear. Some other things CDFAs can help with include:

• Calculating alimony

• Splitting retirement and other investment accounts

• Calculating the cost of living for years to come

• Questions about real property

• Life insurance

• Other questions about expenses and finances

How expensive are CDFAs?

CDFAs charge by the hour, but the actual amount they charge might differ based on where you’re located and the exact details of your divorce. A divorce with a lot of complicated assets might take more work and as a result, have a higher cost.

CDFAs also work with your lawyer in order to get all of the details, which might mean you pay your lawyer more too. Even with how expensive the process is, it might save you more money in the long run.

Not everyone will benefit from a CDFA. However, the service is worth looking into if you have questions about your finances during the divorce.