Divorce Financial Associates :: CDFA – Ann Arbor Certified Divorce Financial Analyst and Advice

What Is a CDFA™?

A Certified Divorce Financial Analyst™ is a financial professional (usually an attorney, CPA or financial planner) who has been certified
by the Institute for Divorce Financial Analysts™. This certification is awarded to individuals who successfully complete the intensive
training and test requirements set forth by the Institute.
These requirements include completion of a comprehensive course of study followed by passing a four-part Comprehensive
Certification Examination that tests understanding and knowledge of the financial aspects of divorce. In addition the practitioner must
demonstrate the practical application of this knowledge.
In order to maintain the CDFA™ designation the individual must agree to abide by a code of ethics and professional practice and
maintain technical competence through documented continuing education.
CDFA™ practice standards can be reviewed and individual CDFA™ designations can be verified at the IDFA™ website.

Top reasons for hiring a CDFA™

Specifically what does a CDFA™ do? (taken from IDFA™ materials)

A CDFA™ becomes part of the divorce team and provides litigation support for the attorney and client on financial issues such as:

The short-term and long-term effects of dividing property;
The tax issues;
Analyzing pension and retirement plan issues;
Calculating the present value of a pension;
Determining the cost basis and capital gains of the marital home;
Determining if the client can afford the marital home and if not, what they can afford;
Evaluating the insurance needs of the client, and determining if the client qualifies for COBRA;
Determining the earning capabilities; and
Establishing assumptions for projecting inflation, and rates of return

Brings an innovative and creative approach to settling cases
Provides the client and attorney with data that shows the financial effect of any given divorce settlement.
Appears as an expert witness in court or in mediation or arbitration proceedings
Is knowledgeable about specific tax laws that apply to divorcing couples
Has background knowledge of the legal issues in divorce.
Is trained to interview clients to:

Collect financial and expense data;
Help them identify their future financial goals
Develop a budget;
Set retirement objectives;
Determine how much risk they are willing to take with their investments;
Identify what kind of life style they want; and
Determine what kind of education they want for their children

Some CDFA™s draft QDROs for attorneys.