Understanding Divorce Financial Planning and CDFA Roles UPDATED
ACTUAL Questions and CORRECT Answers
The CDFA professional assists individuals and attorneys in
Role of CDFA Professional
sorting through the financial issues of divorce.
Common errors made with respect to the marital home,
Common Mistakes
child and spousal support, retirement plans, and more.
A new market niche has been created for financial plan-
ners and accountants knowledgeable about the financial
issues specific to divorce.
Market Niche for Financial Professionals
Financial experts may jeopardize their careers if they are
Consequences of Lack of Knowledge
unaware of the required knowledge related to divorce.
Attorneys, mediators, arbitrators, and judges look for ex-
Divorce Professionals perts knowledgeable about the financial issues specific to
divorce.
Common errors with respect to the marital home include
negotiating to retain the marital home when the client
cannot afford it, failing to consider the cost basis of prop-
Marital Home
erty, and not understanding the capital gain taxes upon
the sale of the marital home or how the sale can impact
each party.
Common errors with respect to child and spousal sup-
port include improperly structuring spousal or child sup-
port payments, failing to understand the tax implications
Child and Spousal Support of alimony payments versus child support payments in
pre-2019 divorces, not protecting spousal and child sup-
port payments through life insurance, and not under-
, standing the importance of making
the spouse who re-
2/8
ACTUAL Questions and CORRECT Answers
The CDFA professional assists individuals and attorneys in
Role of CDFA Professional
sorting through the financial issues of divorce.
Common errors made with respect to the marital home,
Common Mistakes
child and spousal support, retirement plans, and more.
A new market niche has been created for financial plan-
ners and accountants knowledgeable about the financial
issues specific to divorce.
Market Niche for Financial Professionals
Financial experts may jeopardize their careers if they are
Consequences of Lack of Knowledge
unaware of the required knowledge related to divorce.
Attorneys, mediators, arbitrators, and judges look for ex-
Divorce Professionals perts knowledgeable about the financial issues specific to
divorce.
Common errors with respect to the marital home include
negotiating to retain the marital home when the client
cannot afford it, failing to consider the cost basis of prop-
Marital Home
erty, and not understanding the capital gain taxes upon
the sale of the marital home or how the sale can impact
each party.
Common errors with respect to child and spousal sup-
port include improperly structuring spousal or child sup-
port payments, failing to understand the tax implications
Child and Spousal Support of alimony payments versus child support payments in
pre-2019 divorces, not protecting spousal and child sup-
port payments through life insurance, and not under-
, standing the importance of making
the spouse who re-
2/8
