At Batley Family Law, we have one of only two Certified Divorce Financial Analysts in the state of New Mexico on staff to meet your needs at all stages of the divorce process. Our team provides comprehensive assistance to find the right solutions for your future, regardless of your situation.

What is a Certified Divorce Financial Analyst?

A Certified Divorce Financial Analyst or CDFA professional is a financial expert trained specifically to help divorcing spouses and their attorneys to understand how the financial decisions made during the divorce process will impact the spouses’ finances in the future. The training distinguishes these analysts from other professionals such as Certified Financial Planners, Chartered Financial Consultants, Certified General Accountants, and Chartered Accountants.

Financial planners typically focus on achieving long-term goals based on a series of assumptions, while accountants examine current scenarios to calculate immediate impacts. Neither of these types of professionals typically undergo education focused on the specific elements that make up the divorce process.

A Certified Divorce Financial Analyst combines elements of these two approaches to help both clients and attorneys comprehend the effect of financial choices so that clients can make informed decisions that preserve assets and provide a solid financial foundation for the future. CDFA training is geared specifically toward the factors affected by divorce.

How a Certified Divorce Financial Analyst Helps in the Divorce Process

A Certified Divorce Financial Analyst (CDFA) provides critical financial expertise during the divorce process, focusing on the comprehensive analysis of the financial issues associated with divorce. The involvement of a CDFA helps ensure that financial decisions are made with a clear understanding of their short-term and long-term impacts. Here are key ways a CDFA contributes to the divorce process: 

1. Financial Analysis and Planning

• Asset and Liability Assessment: CDFAs conduct a thorough review of the couple's financial assets (such as homes, investments, and retirement accounts) and liabilities (like mortgages, loans, and credit card debts), providing a clear picture of the marital estate.
• Future Financial Projections: They use specialized tools to forecast the long-term financial effects of proposed divorce settlements, including the implications for both parties' lifestyles.

2. Marital Property Division

• Asset Valuation: CDFAs help in valuing and dividing complex assets, ensuring that the division is equitable and considers potential future values.
• Tax Considerations: They analyze the tax implications of dividing assets, recommending strategies to minimize tax liabilities associated with the distribution of property, retirement funds, and investments.

3. Child and Spousal Support

• Support Calculations: CDFAs calculate appropriate levels of child and spousal support, taking into account the needs of the custodial parent and children, as well as the paying spouse's ability to pay.
• Adjustment Scenarios: They provide analyses on how changes in circumstances, such as income fluctuations, relocation, or changes in custody, might affect support payments.

4. Post-Divorce Financial Stability

• Budgeting: CDFAs assist clients in developing post-divorce budgets that account for their new financial reality, helping to ensure that they live within their means and plan for future expenses.
• Financial Planning: They offer advice on financial planning and investment strategies to help clients rebuild and secure their financial futures post-divorce.

5. Settlement Negotiations

• Objective Insight: By offering objective, financial-based insights into the divorce negotiations, CDFAs help prevent emotionally-driven decisions that could have negative long-term financial consequences.
• Creative Settlement Solutions: They can propose creative settlement options that maximize financial outcomes for both parties, often leading to more amicable agreements.

6. Legal and Mediation Support

• Collaboration with Legal Teams: CDFAs work closely with attorneys, providing them with detailed financial analyses that can strengthen a client’s case.
• Mediation Facilitation: In mediation settings, CDFAs help facilitate discussions by providing clear, financial data-driven perspectives, which can be crucial in reaching settlements.

A CDFA plays a vital role in navigating the financial complexities of divorce, ensuring that clients make informed decisions that protect their financial well-being. Their expertise not only aids in achieving equitable settlements but also in laying a solid foundation for clients' financial futures post-divorce. By addressing both immediate and long-term financial concerns, CDFAs are instrumental in helping clients transition more smoothly into the next phase of their lives.

Batley Family Law Provides CDFA Services to Meet the Full Range of Your Needs

You may be overwhelmed with questions during the divorce process. Guidance from a CDFA can provide answers to many of those questions to help you move toward the future you want. But finding a qualified CDFA can be a challenge.

At Batley Family Law, our divorce team includes CDFA Lorrie Kehl-Paul, who is one of only two professionals in New Mexico with this critical certification. She can help you develop plans for your financial future after divorce, as well as assisting with navigating tax issues, developing a beneficial plan for property division, determining what will happen with the family home, and managing financial issues associated with education, medical care, and other challenging necessities.

Learn More About How a Certified Divorce Financial Analyst Can Protect Your Interests

Batley Family Law focuses on meeting your needs throughout the divorce process, and the services of a CDFA can ease your worries in a variety of ways. Call our Albuquerque office today at (505) 246-0500 or fill out this contact form to take the next step toward scheduling your confidential case evaluation.