What is a Certified Divorce Financial Analyst CDFA®?
Why Do You Need a Financial Expert in Divorce?
Unfortunately, the biggest issues surrounding divorce are children and money.
Because money is a major stressor in modern life which affects the whole family, it is critical to have an independent person who is qualified to review your financial situation.
Many attorneys are not experts in the field of finance. Yet, when it comes to dealing with divorce, one of the biggest obstacles is deciding what to do with your finances.
What Does a CDFA® Do in a Divorce?
A CDFA® professional is a financial professional skilled at analyzing data and providing expertise on the financial issues of divorce. The role of the CDFA® professional is to assist the client with understanding how the decisions he or she makes today will impact the client’s financial future.
Financial Expertise and Strategy
CDFA® professionals provide the client with data analysis that shows the financial effect of any given settlement. They provide support on financial issues such as:
- Understanding the short-term and long-term effects of dividing assets
- Analyzing pensions and retirement plans and setting objectives
- Determining if the client can afford the marital home, and if not, what he or she can afford
- Determining how much risk they are willing to take with their finances in the future
- Data collection and analysis
Source: Institute for Divorce Financial Analysts (IDFA)
“CDFA’s® can provide invaluable information that allows the court to arrive at a fair, equitable, and just resolution, not just at the moment of trials, but down the road as well.”
Hon. Kathleen McCarthy, Family Court Division Judge
Divorce Magazine, Summer 2003
What Financial Issues Does Zollinger Mediation Handle?
As CDFAs® Zollinger Mediation is specially trained and experienced to provide valuable information on financial divorce issues, whether it is a divorce proceeding. These can include:
- Personal vs. Marital property
- Valuing and dividing property
- Retirement plans, pensions & QDROs
- Dealing with Real Estate issues, Appraisals, Foreclosures, Short Sales
- Bankruptcy during Divorce
- Tax problems and solutions
- Providing financial support to you and your attorney
Why Work With a CDFA® Mediator Instead of an Attorney?
Every financial divorce situation is different so it is extremely important that you work with a professional divorce financial analyst who understands the process and can effectively communicate how your financial agreement will affect you in the long and the short term.
At Zollinger Mediation, we are certified in divorce financial analysis and will help you weigh your options to reach a fair agreement regarding your finances. More information about options for financial help.
CDFA® vs. Forensic Accountant: What's the Difference?
Both a Certified Divorce Financial Analyst® (CDFA®) and a forensic accountant can help you understand your finances during divorce, but they serve very different purposes at very different price points.
A forensic accountant is typically brought in for complex litigation cases — particularly where hidden assets are suspected or the case is heading to court — and costs can start at $5,000 just to prepare a Financial Affidavit, rising to $15,000–$20,000 or more. A CDFA®, by contrast, is trained specifically to help people preparing for divorce understand their financial picture, calculate assets and liabilities, evaluate cash flow, and model the long-term impact of different settlement options — at considerably lower cost.
At Zollinger Mediation, Freya Robbins is both a CDFA® and your mediator, which means the financial analysis and the settlement process happen together, without the need to hire and coordinate multiple separate professionals.