Educating Parties on Effective Financial Strategies
“They ought to do away with divorce settlements. Instead, both parties should flip a coin. The winner gets to stay where he or she is and keep everything. The loser goes to Paraguay.” Suzanne Finnamore, Split
In divorce, often both parties feel as though they are the losers. From this mindset, they can find it difficult to work together to reach an equitable and practical solution regarding finances. This hurts everyone because finances play a critical role in the future security of both the parents and, if present, the children. When there is a major gap in the standard of living between the parents, the children suffer. Likewise, when one spouse thrives while the other struggles, it is difficult to maintain a sense of goodwill–leading to further acrimony. Divorce Financial Planners educate parties on the reality of their current financial position and the possibilities for the future. This shifts the perspective from both feeling a loser to both parties envisioning a financially secure future for everyone.
Once the parties have gathered all the relevant and appropriate information, a Divorce Financial Planner works with the mediator and both parties to find a way to ensure each has an adequate standard of living post-divorce. When the numbers just don’t add up, the planner works to develop a blueprint for each parent to achieve stability, and then prosperity. The planner then offers ongoing support post-divorce and continues to review and adjustment as necessary. The planner provides parties, many of whom who have never had this kind of financial support, both the information and the process to make decisions to secure their futures.
The Resolution Center offers divorce financial planning services as a part of an extended package of services to enable parties stabilize their finances during emotionally turbulent times. The divorce financial planner can also work in non-divorce situations like elder law, extended family disputes, partnerships, or other business related disputes which require financial projections.
1 “Divorce Financial Planner” means the a person who is a Certified Divorce Financial Analyst (CDFAT), a Certified Financial Divorce Specialist (CFDS), or a Certified Financial Divorce Specialist (CFDS) who provides insights into financial issues associated with separation, divorce or other family disputes helping parties arrive at knowledge-based outcomes.