Frequently Asked Questions

A Divorce Financial Analyst is an expert in the financial arena of divorce, including budgeting, insurance, investment management, valuing assets and benefits, taxation, and other elements of financial planning.  Services include:

• Gather financial information. The first step for a DFA is to gather all of the financial information from both spouses, including income statements, tax returns, asset lists, and debt statements. This information will be used to create a financial profile of each spouse.
• Analyze the financial information. Once the financial information has been gathered, the DFA will analyze it to determine the assets and debts that each spouse will receive in the divorce. They will also consider the spouses' income, expenses, and future financial needs.
• Develop settlement options. The DFA will then develop a number of settlement options for the spouses to consider. These options will take into account the factors that the DFA has analyzed, and they will be designed to be fair and equitable.
• Negotiate with the spouses. The DFA may also be involved in negotiating with the spouses to reach an agreement on a settlement. They can use their knowledge and experience to help the spouses reach a compromise that is in both of their best interests.
• Provide testimony in court. In some cases, the DFA may be called to testify in court about the financial aspects of the divorce. They can provide expert testimony on topics such as asset valuation, tax implications, and future financial needs.

You don't need a Divorce Financial Analyst (DFA) to get divorced, but it can be beneficial. A DFA can help you understand your financial situation and options during a divorce, and reach an equitable settlement.

Some things to consider when assessing your need for professional support include:

• The complexity of your financial situation. If you have a lot of assets and debts, or if your finances are complex - or you don't have experience working with them, a DFA can be help  you understand and make decisions about them.
• The level of conflict in your divorce. If you and your spouse are able to communicate and negotiate effectively, you may not need a DFA. However, if there is a lot of conflict, a DFA can help facilitate the process and reach a settlement.
• Your budget. DFAs fees should be understood up front so you can to consider whether or not the cost is worth it for your situation.

Early in the process is generally the best time to engage with a Divorce Financial Analyst.  Conflict over financial terms of a divorce can be the most difficult obstacles to resolution.  When you combine the emotions inherent with ending a relationship and the fears related to financial security during and after divorce, it can be hard for couples to remain rational and collaborative.  

Having an expert who has experience with divorce, and can assess and evaluate options, can often help avoid or minimize conflicts that can derail a settlement.  This can be much more effective if parties have not already come to an impasse.

Gaining agreement on the finances early will often expedite the time needed, and reduce the costs associated with divorce.

Maybe.  Many attorneys have experience dealing with the financial complexities of divorce, or have staff, or accounting or planning partners they work with to handle financial matters.  We specialize in working with clients going through divorce and as such have insights and tools that may not be available to professionals that are broader in their scope.

There are attorneys, accountants, insurance agents, mortgage brokers, realtors and other professionals that all specialize in helping clients who are going through divorce.  We have worked with, and referred clients to these trusted resources to insure they have the support needed to navigate the challenges of divorce.

If you have the time, and are inclined to develop your own knowledge around these subject areas there are some on-line resources that may help you:

• Divorce is governed by state law, so a good first stop is your state of residence court website.
• Property Division by State - typically the law of the state of residence  applies to division of assets, however, this is not always true.  This site summarizes how assets are distributed in each state.
• You can obtain a free credit report annually from the three bureaus at this site  AnnualCreditReport.com.  Be careful, there are many imitators out there that will charge.  Obtaining this for both spouses is a good place to identify credit related assets and liabilities.
• There are also many on-line divorce platforms that offer services, paperwork, and guidance as a more affordable option.

As you sift through this information you may discover that each stone you turn over leads to more questions and doubts.  This is often why clients come to us for help.