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Should you hire a divorce financial planner?

Many California spouses learn the hard way after the divorce is concluded that they conducted the negotiations with an incomplete knowledge of their finances. One way to avoid this is to hire a certified divorce financial planner, or CDFP, during the process.

A CDFP can work with your attorney

A CDFP is part of your team of advisors, which includes your attorney. Often, the CDFP will work in concert with your attorney to provide a comprehensive view of your finances now and in the future. They will point out various financial considerations that you are overlooking. This way, you will know what to ask for in the divorce negotiations. The CDFP will study your particular financial situation to give you the best possible advice.

You may need help with financial planning

You may also need help in planning your post-divorce financial life. Many people do not know or remember what it is like to be on their own financially. They may even struggle with basic things like budgeting. A CDFP can help you get started on the right path. This is important when it comes to things like investing and saving. Not only can they teach you the skills that you need, but they can also design the right financial plan for you. This will help you make a seamless transition to financial independence right after the divorce.

A family law attorney may work with a CDFP to help you figure out the right plan for the end of your marriage. The attorney might suggest to you other professionals to work with during the process. The lawyer may be able to negotiate on your behalf to obtain the things that your CDFP says you need to make a new financial start in life.