Benefits of Working with a CDFA®

Divorce can be a complex process. Before you agree on a settlement of marital assets, you should gather and analyze extensive financial information such as the value of current property and assets and the long-term tax implications of proposed property settlement agreements. You may even want to secure expert witness testimony relating to the financial aspects of your case. To help streamline the financial aspects of divorce process, bringing in the expertise of a CDFA® can be invaluable. Of course, you should consult an attorney regarding the legal strategy for your divorce. We will provide you with a list of lawyers in your area. Remember, a trained CDFA® provides financial solutions and the navigation of the financial elements of divorce.

Veralynn Morris, the certified divorce financial analyst (CDFA®) at Divorce Financial Solutions, has extensive knowledge of the financial implications of divorce. Drawing on over 30 years of experience in the investment and financial planning industry, Veralynn takes a personalized approach to every case and strives to get to know each client and their unique needs. At Divorce Financial Solutions, we offer services to clients in the following Maryland jurisdictions: Frederick, Washington, Allegany, Garrett, Howard, Carroll, Montgomery, Prince Georges, Anne Arundel, St. Mary’s, Baltimore and Harford Counties.

Financial Review

In the beginning of the divorce process, it is important to gain a clear and thorough financial picture of both parties by working with a pre-divorce financial counselor that is a CDFA® professional. This includes such considerations as analyzing potential liabilities, developing manageable and realistic budgets, taxation, determining net worth and preparing financial statements, and estimating the immediate financial needs of both parties. Because a CDFA® has extensive experience in the field of providing financial solutions, they will be equipped to help you prepare a plan for the present and well long into the future.

Long-Term Planning

A divorce can have lifelong financial implications, so it is crucial to realistically plan for the future. During this phase, your CDFA® will help you think through your long-term financial goals and objectives and will advise on how to reach your goals and objectives.

Analysis of Divorce Settlement

Once a settlement has been proposed, it is absolutely vital to analyze the financial terms of the property settlement critically and thoughtfully. Does the settlement take taxes into account and, if not, is it still fair and equitable from a financial standpoint? Are there long-term maintenance needs that are not included in the settlement? Does it take into account how both parties’ net worth will grow over time? Your CDFA® will help you navigate the question of your divorce finances, propose alternative settlement possibilities, and compare and contrast them in order to ensure that all of your financial needs will be met, both now and in the future. Of course, you should rely on an attorney to advise you as to the legal implications of your divorce. Remember, a trained CDFA® provides financial solutions and the navigation of the financial elements of divorce.

Long-Term Financial Management

Once a settlement has been agreed to, the logistics of asset transfer, retirement and pension plans, social security, life insurance, health insurance, and investment management will become a concern. Your CDFA® will help you understand these processes and assist you in setting up budgets, monitoring the outcomes, and adjusting your plans as necessary. A CDFA® is there to help you navigate your divorce finances long after you have left the settlement table.