What is a Certified Divorce Financial Analyst® (CDFA®)

“A CDFA is someone who comes from a financial planning,

accounting or legal background and goes through an intensive

training program to become skilled in analyzing and providing expertise related to the financial issues of divorce.”

(What is a CDFA professional? (institutedfa.com))

We are here to provide you with support, education and confidence

to help you move forward at any stage of separation/divorce process.

We offer you a safe space for sharing your experience and provide you with the guidance and resources needed to navigate the challenges of the divorce process.

We work with you and your lawyer so that you understand how

the financial decisions made today will impact your financial future.

If needed, we can appear and testify as an expert witness if the

case should go to court, or in mediation or arbitration proceedings.

We can often bring creative approaches to settling cases.

Many divorcing couples have questions such as:

Please reach us at rochelle.moore@mysoundplan.com

if you cannot find an answer to your question.

Who gets the marital home?

Careful analysis and budgeting should be conducted prior to fighting to keep the marital home or moving to a new residence so you know if you can afford all of the costs associated with maintaining each option.

Where will the children live?

While the courts may strive to achieve a 50/50 custody arrangement, there are many factors that must be considered including the current living situation of both parents and what is in the best interest of the child(ren).

What is non-marital property? Marital property?

Generally, non-marital or separate property is property that was owned by either spouse prior to the marriage or is acquired as a gift or inheritance during the marriage, and not subsequently comingled. Whereas marital property includes all property that was acquired by either spouse during the course of the marriage.

How much will I get in child support?

Under federal law, all states must establish guidelines for calculating child support. While these guidelines vary from state to state, they are primarily based on one or both parents' income and the number of children being supported. The formula might also factor in other items, such as health insurance and the amount of time the children spend with each parent.

How much will I get in spousal support?

The courts have more discretion in awarding spousal support than child support. Spousal support (alimony) is generally determined based on:

Recipient spouse's need
Payor spouse's ability to pay
Length of marriage
Previous lifestyle
Age and health of both spouses

What tax issues should I be concerned with?

Nearly every significant financial decision needing to be made during the divorce settlement process will have some tax consequences to be considered. Lawyers attend law school to become experts in the law. They are not trained to become financial experts, nor can they testify on their client's behalf in court.

How are the pension(s) and retirement plan(s) divided?

In addition to the marital home, pensions and retirement plan accounts are often the largest financial asset subject to division. Valuation calculations can be complex and should be accurately performed and agreed upon before settlement negotiations begin.