Divorce proceedings bring forth many financial questions for Texas residents. Matters related to the division of property, alimony, and more might create confusion and concerns. Some people might not realize that there are financial planners who specialize in divorce-related matters.
A certified divorce financial analyst (CDFA) could assist spouses who head into divorce over fiscal issues. A significant number of divorces occur each year due to concerns and stress over finances. One spouse may worry about debt and retirement planning while another may take fiscal risks or spend too much. A CDFA may potentially provide financial advice to a spouse with monetary concerns when the union heads into divorce proceedings.
Dealing with a divorce could take more than an emotional toll. The stress might hamper the ability to make appropriate financial decisions. Divorce proceedings do not free someone from routine financial responsibilities, such as rent, utilities, food, and the like. Figuring out better budgeting and financial management may alleviate some troubles. A CDFA might provide valuable insights during the trying time.
There’s another reason why working with a financial planner may be worthwhile. The CDFA could provide someone insights into financial matters that might be new to a particular spouse. When facing an impending divorce, a spouse might find themselves dealing with financial issues that the other spouse handled. For example, various insurance policies might be confusing, so it could help that an experienced professional provided necessary information.
It may take time for a spouse to end up in a financially preferable position. A financial planner might be able to help through the proceedings in conjunction with consulting with a divorce attorney.