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Divorce and Finances – Why It’s Important to have Financial Planning During a Divorce

financial planning during a divorce

During a divorce, it’s easy to get caught up in what is happening in the moment and not plan adequately for the future.   A Certified Divorce Financial Planner (CDFA™ ) is uniquely qualified to incorporate financial planning directly into the process as opposed to after the divorce process.  More importantly, settlements that are achieved when using a CDFA™ are much less prone to problems in the future.  A CDFA™ understands the emotional turmoil a divorce can cause, but doesn’t get caught up in it.  Having an objective third party involved in the process in the present, can avoid conflict in the future.

In most divorce cases, the following financial information must be made available (this is not an exhaustive list):


  • Couple’s income, collectively and individually, including W2’s and 1099
  • Income tax returns for the last 3 years
  • Statements of any financial accounts, including checking, savings, CD’s, mutual funds, money market accounts.
  • Real estate records, including the marital home and unimproved land.
  • Personal property, including vehicles, furnishings, collections, etc.
  • Medical savings accounts
  • Whole life insurance policies
  • Trusts
  • Stocks, bonds, retirement plans


  • Mortgage and home equity loans
  • College loans
  • Credit Card records
  • Promissory notes
  • Other loans

A CDFA™ will look at the couples martial assets and liabilities and help come up with a plan to protect your future, as well as the future of your children.  This is a critical step in the divorce process.

With a Certified Divorce Financial Planner at your side, you will be able to:

  • Take control of the divorce process
  • Gain a clear understanding of your current financial status
  • Gain a clear understanding of your future financial status
  • Be more focused on reaching a fair settlement
  • Negotiate more effectively
  • Ensure a faster resolution of all financial matters
  • Minimize both parties taxes
  • Maximize the marital assets

After the divorce process a CDFA™ can oversee asset transfers, set up budget and planning systems, manage investments, monitor results and update plans accordingly.

Divorce is neither pleasant or easy.  Having a by incorporating Financial Planning During a Divorce an having a CDFA™ on your team helps to maintain your well being by ensuring your financial plan is the right one for your future.