What Was a Certified Financial Divorce P🐷rꦗactitioner (CFDP)?

A Certified Divorce Financial Practitioner (CDFP) was a specialized credential, no longer issued, that signaled knowledge of tax law, asset distribution, and short- and lo💧ng-term financial planning applied to divorce settlements.

Understanding the Ce☂𝔉rtified Financial Divorce Practitioner (CFDP)

The best-case scenario for two people divorcing is that it’s amicable, and both parties agree on the division of assets. ♔In this case, you might only need a neutral mediator to help with paperwork.

Some divorces that don’t involve property, retirement accounts, children, or large sums of money might even be completed by following a few simple steps online. H༒owever, divorce after many years of marriage with two conflicted people almost always requir🍸es the hiring of two attorneys—one to represent both parties. Unfortunately, court dates, attorney meetings, and negotiations all add up to time, and time means a whole lot of money to attorneys.

Hiring yet another professional may not be ideal. Some situations call for specialized knowledge. While this person cannot provide legal advice unless, of course, they have a license, a CDFP provided in-depth financial analysis and guidance to the attorneys and divorcees relating to the divorce. Information provided by the clients and attorneys is used to analyze proposals for the division of assets, a𒈔limony, custody, child support, and other ๊issues.

CDFPs could then project the financial impact in the short- and long-term and formulate different options that could leave both parties in better positions post-marriage. They also recommend absolute values to assets that may be under or💙 overestimated.

To become a CFDP, a candidate would have had to have completed training offered by the 澳🅰洲幸运5开奖号码历史查询:Academy of Financial Divorce Practitioners. This training involved a 10-week program or completion 👍of a self-study course. Both training methods were concluded with an examination, which had to be passed before the designation was awarded.

 Certified Divorce Financial Analyst (CDFA)

While the CFDP no longer exists, there are alternative designations that train financial professionals in divorce matters.  A Certified Divorce Financial Analyst (CDFA) uses their knowledge of tax law, asset distribution, and short- and long-term financial planning to achieve equitable divorce settlements. CDFAs are best at providing advice on:

• Valuing assets and debts
• Valuing the marital home
• Dividing retirement and pension accounts
• The amount and duration of alimony
• Tax implications of alimony and property division, and
• Setting up a budget for life after the divorce

A Canadian designation, known as the (CFDS), similarly trains financial planners to help clie🌳nts with their finances regardiജng matters of cohabitation, separation, and divorce.