Meeting with the Financial Professional

Neutral, Informative and Practical Financial Insight for Your Divorce

For many divorcing couples, stress and anxiety related to finances is a key contributor to the breakdown of their marriage. These feelings of mistrust and frustration often carry over into the divorce process, only furthering the conflict and complexity of working toward resolution.

A neutral financial professional offers valuable insight and problem-solving skills to the collaborative process, fostering greater transparency and more effective communication about fears and concerns related to money matters.

As a certified public accountant (CPA) or certified financial planner (CFP), the financial professional offers a depth of knowledge to you and your spouse related to financial analysis and tax matters throughout the collaborative process. With an additional certification as a divorce financial analyst (CDFA), this neutral professional also works to increase trust, set long-term goals and build confidence for both you and your spouse as you cooperatively design a settlement which best meets your needs.

The Role of a Financial Professional in a Collaborative Divorce

Because money issues carry such enormous weight in a marriage, the collaborative divorce process works to eliminate these anxieties by incorporating the problem-solving and assessment skills of a neutral financial professional.

The neutral financial professional works to depict your individual and collective financial stories honestly and entirely, minimize fears and anxieties about money, and develop strategies for the future by:

  • Building an inventory of what’s owned and owed
  • Preparing a financial analysis of income and expenses
  • Discussing needs and goals for post-divorce scenarios
  • Exploring financial implications of divorce on immediate future and long-term goals
  • Providing financial insight to foster greater confidence moving forward
  • Relaying analyses, projections, goals and concerns to you and the collaborative team
  • Assist in finding support for post-divorce financial guidance

The financial professional will help to break down you and your entire family’s financial history in order for you to better understand options when approaching the settlement table. With this knowledge in hand, you both are better prepared to negotiate fairly and consider implications of your resolution on long-term goals.

Benefits of Working with a Financial Professional During a Collaborative Divorce

  • Honest, accurate depiction of you and your spouse’s financial story
  • A neutral perspective and sounding board throughout the process
  • Valuable experience and expertise on complex financial matters
  • Skilled insight on the impact of divorce on investments and long-term goals
  • Keen understanding on property division and options for a mutually beneficial settlement
  • Ability to more easily convey financial matters to you and your collaborative team

With a financial professional on your collaborative divorce team, you and your spouse can rest assured there is a complete and accurate assessment of your finances available to one another and the entire collaborative team. This works to ease money-related tensions, increase trust and maximize the effectiveness of settlement talks as the case progresses.

The financial professional’s neutrality also serves as a core fundamental of the collaborative process, which means their unbiased feedback comes without allegiance to either spouse. You and your spouse can be confident you’re receiving valuable financial insight to successfully navigate the divorce process, as well as greater preparedness for what lies beyond your settlement.

What to Expect from the Financial Professional During Your Collaborative Divorce

The financial professional works to prepare, analyze and convey you and your spouse’s financial history and forecast an outlook based on goals and settlement options. This is accomplished by collecting information and openly communicating needs and goals each of you has.

One of the biggest tasks you and your spouse will fulfill with the financial professional is the preparation of an inventory. Both you and your spouse will provide an account of assets and debts, along with accompanying documentation to maximize accuracy and trust. You will also work to prepare a financial analysis of your projected income and expenses after the divorce. These two pieces of information will serve as the basis for settlement discussions.

You and your spouse can expect the financial professional to serve you both with unbiased insight, a vast knowledge of complex financial matters, an understanding of how to negotiate the needs of two households based on your current single household scenario and act as a sounding board for concerns, needs and goals each of you may have during the process.

What’s Next?