Divorce is the most significant financial event that most people will ever experience
"Increasingly financial advisors, particularly those qualified as financial divorce specialists are becoming involved in helping people through divorce" ... Money Planner Magazine
While separation and divorce can be emotionally traumatic, it is the monetary issues that can cause the most concern and upset.
The Role of the Chartered Financial Divorce Specialist (CFDS)
To work with individuals, lawyers and/or mediators to arrive at the most satisfactory financial outcomes considering various options available. Factors involved could include assets, liabilities, support requirements, property division, pension division, etc.
A CFDS can work directly with an individual or couple and is employed on a fee for service basis. Through a lawyer and/or mediator, they can be involved in the litigation, mediation or collaborative process. All CFDS must adhere to the Academy of Financial Divorce Specialists' Code of Ethics and Best Practice Standards - click here to read.
Items to consider where professional help can be invaluable
1.Division of assets - Property - Investments - Pension - Etc.
2. Child and Spousal support
3. Cash flow - Budgeting
4. Insurance - Protection for support - Etc.
6. Wills - Power of Attorney - Etc.
7. Estate considerations