Strategic Financial Planning

Divorce Planning FAQs

Q: I have an attorney, why do I need a CDFA™?

A: Because you don’t want to gamble with your financial future. Finding the right professional for your situation is key; you need an attorney to provide legal advice, but you also need a CDFA™ to provide financial advice. A CDFA™ becomes part of your “divorce team” to provide support for your attorney. A CDFA™ provides the data that shows the financial effect of a settlement and, if needed, can appear as an expert witness in court. Once you reach a settlement, it can’t be changed. Therefore, spending time evaluating your financial future is perhaps the most important step in a divorce.

Q: What is the process for working with SFP?

A: First, key data are gathered, such as income and expenses for husband and wife, followed by assets and liabilities. You will be provided a checklist of documents. If you meet with SFP before an attorney, you can often save time and money by making sure the financial information is complete – which allows the attorney to focus on the legal aspects of the case. A divorce financial planner is viewed as the financial expert and can come aboard at any stage of the divorce process.

Q: What does it cost?

A: A CDFA™ charges hourly or by retainer fee much like attorneys. At SFP, the hourly fee is $150 with a minimum of $1,000 (6.5 hours). The average divorce analysis takes 10 hours. Clients with more complicated situations may want to go on retainer where the hourly fee is as low as $87.50 an hour when an analysis may take more than 15 hours.

Q: What cities do you serve?

A: We are able to help nationwide but because of our location and the benefit of meeting in person, we are convenient to the cities of Dallas, Plano, Frisco, McKinney, Allen, Richardson, Carrollton, Lewisville, Flower Mound, The Colony, Prosper, Highland Village, Coppell, Grapevine, Southlake, Colleyville, Irving and Highland Park.

Q: Do you help women only?

A: No. SFP is an advocate for both men and women. We can even work with a couple to create a fair and equitable financial settlement ready to present to an attorney to finalize the divorce.

Q: Are you sensitive to my personal beliefs?

A: We understand traditions and religions influence how divorce is handled. We are able to work with you on following moral and ethical guidelines of your personal beliefs and address any barriers that may pose a conflict.

Q: How do I know I would benefit from hiring SFP?

A: Clients that receive the most benefit come from a marriage where their joint income is $250,000 or greater and/or total assets exceed $500,000. The couple is also willing to collaborate in a non-confrontational manner in order to work together toward an agreement. The family dynamics vary, and can include a stay-at-home mom, a retired couple, or a business owner. See what our clients have in common.

Use our Contact Page to send us your question.

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