Frequently Asked Questions

Certified Divorce Financial Analysts Serving DuPage County, Will County and Kendall County

Q. What is a Certified Divorce Financial Analyst (CDFA™)?

A. A CDFA™ is a financial professional who has been specifically trained to handle the economic considerations of the divorce process. An individual must meet certain qualifications and pass examinations to obtain and keep his or her certification.

Q. What does a CDFA™ do?

A. The primary role of a CDFA™ is to provide guidance to you and your attorney in understanding how the financial decisions you make during the divorce process will affect your future. A CDFA™ can help create reasonable divorce settlement proposals and determine how a particular settlement or judgment will meet your long-term financial needs.

Q. If I hire a CDFA™, will I still need a divorce attorney?

A. Yes. While there is no law in Illinois that requires you to hire a divorce lawyer, obtaining a divorce without an attorney is not recommended. While a CDFA™ can provide reliable financial guidance, he or she cannot offer legal advice.

Q. Do I need a CDFA™ for my divorce?

A. A Certified Divorce Financial Analyst can be a valuable addition to your divorce team if you and your spouse have substantial assets, real estate holdings, and/or business interests. Some divorce lawyers may not have all of the financial knowledge or experience to adequately address all of the economic considerations that may arise in a divorce involving significant or complex assets.

Q. How is a CDFA™ different from accountants or other financial professionals?

A. Financial planners, investment brokers, accountants, and other financial experts are usually very good at what they do; however, often times they do not have the training or experience to manage the financial questions that come up during a divorce. A CDFA™ is trained to identify and address concerns that are specific to the divorce process.

Q. Can my spouse and I use the same CDFA™?

A. Yes. Unlike a divorce lawyer, a CDFA™ can help both parties in a divorce, as long as you and your spouse agree to do so. In fact, a CDFA™ is commonly included as part of a collaborative divorce team. Collaborative divorce is a method of alternative dispute resolution designed to help couples manage their divorce without courtroom litigation.

Q. Does a CDFA™ help only women or only men?

A. A Certified Divorce Financial Analyst can assist any person going through a divorce, regardless of gender or relative income level. The main goal of a CDFA™ is to help you and your attorney analyze the numbers so that you can obtain an equitable divorce settlement.

Q. Will a CDFA™ make financial decisions for me?

A. No. When you work with a CDFA™, he or she will help you conduct a comprehensive analysis of your financial situation, as well as how any proposed divorce settlement is likely to affect your future. Your CDFA™ can make recommendations based on what he or she believes is in your best interests, but the final decisions are always up to you.

Speak With a CDFA™ Today

To learn more about how a Certified Divorce Financial Analyst can help you with your divorce, contact The Divorce Financial Group, LLC. Call 630-741-4493 to schedule an appointment today.