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What is a Divorce Financial Analyst & Do I Need One?

Posted By Attorney Jim Cairns || 9-Feb-2013

With the continuing growth rate of uncontested divorces in Philadelphia, in Pittsburgh and across Pennsylvania, newer professions have developed alongside - everything from divorce party planners to divorce financial analysts. A certified divorce financial analyst is a professional who has been trained to help financially navigate during the negotiation of a divorce settlement.

Hiring a divorce financial analyst is a way to add financial expertise to your uncontested divorce financial planning and marital settlement agreement negotiations. Your analyst will not only look at the short-term ramifications of your divorce, but also look at how you will be affected in the long-term. Some of the other areas covered by a certified divorce financial analyst include:

  1. how to put value on marital property;
  2. how to divide marital property;
  3. purchasing stock options;
  4. other investment and financial options;
  5. obtaining continued health coverage;
  6. keeping your financial goals realistic;
  7. advice on if you should keep your house or sell your house;
  8. advice on pension plans; and
  9. tax advice and implications.

Traditionally, divorce financial analysts have been used by people who own businesses or have a significant amount of marital assets. Recently, the profession is recruiting more clients who simply want to make sure they have made solid financial decisions during an emotionally challenging time. It can be difficult to fully understand the long term financial implications in the middle of a divorce.

If you are concerned with the financial implications of your uncontested divorce, a financial analyst can assist in several ways. A general search online will give you a list of divorce financial analysts in your area and perhaps a free initial consultation.

If cost is a concern, you and your spouse can split the cost of the analyst. You can ask your analyst to come up with fair financial solutions for the both of you. As with any other person you may hire during your divorce, check to see their online reviews and if they are accredited or certified. Keep in mind that a financial analyst does not replace a lawyer and does not have the legal authority to give legal advice in an uncontested divorce.