How Can Colorado Certified Divorce Financial Analysts (CDFA's) Help You During Your Divorce
By Richard Barthallo
In today's economy, it is more important than ever to explore and understand the outcomes and potential pitfalls of various settlement options. All members of a Certified Divorce Financial Analysts group are also Certified Financial Planners and are uniquely qualified to help with most financial issues that may arise during your divorce in Colorado.
These issues may be as simple as the basics of creating a household budget to more complex issues such as:
1 - Calculating the impact of income tax on maintenance for both parties,
2 - Calculating the impact of maintenance on income tax for both parties
3 - Dividing pension plans,
4 - Continuing health insurance coverage, and Splitting stock options.
CDFA's are trained to act as your financial advocate, or when working with couples, as your neutral expert. Some members of Certified Divorce Financial Analysts groups in Colorado are also experienced in mediation services and are professional mediators registered with the Colorado Council of Mediators.
Along with earning the Certified Financial Planner designation, all members have graduated from the Institute for Divorce Financial Analysts and must complete extensive annual continuing education in the areas of divorce, taxation, and finances.
Divorcing couples find it immensely helpful to have a financial expert providing them with information to make better decisions. Moreover, people who have a mediator mediate their divorces are more likely to abide by the terms of their settlement because they have contributed and have helped create the arrangement and settlement.
Having a divorce financial analyst plus a mediator can help turn a traditionally unpleasant occurrence into a less costly, win-win situation for both spouses.
In addition, the cost of your divorce in Colorado depends primarily upon the complexity of your financial situation and the ability or inability for you and your spouse to work together to agree to the terms of your settlement. A CDFA can help with calculating all the costs and can help find a financial solution that works for all.
In Colorado, the majority of couples go through the divorce process, "pro se," meaning without legal representation. Because the parties are entering into a contractual agreement, obtaining financial guidance before agreements are finalized is critical.
The fees that a CDFA helps identify for you include: Court filing fees, Mediation and/or fees for divorce financial consultation, Business and property valuations, (as needed), Agreement review by attorneys, and Preparation of a Qualified Domestic Relations Order (if dividing pensions and some retirement plans).
The cost of your Colorado divorce depends on the amount of time the professional is working with you on your case, both in meetings, in the analysis of financial data and in drafting the final Agreement.
While it may be difficult to estimate what your particular divorce will cost, working with a mediator and/or a Certified Divorce Financial Analyst will be a fraction of the cost as compared to a case litigated in court.
About the author
R Bathallo states that the services of the Colorado Divorce Financial Analysts (CDFA's) of http://www.coloradodivorce.org provide affordable divorce mediation and financial divorce consulting services for the entire Colorado Front Range (Boulder, Denver, Arapahoe, Summit, Eagle). from http://www.FreeArticlesAndContent.com
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