Who Does Financial Mediation Help?
Divorce is a life-changing event that brings many concerns and requires careful consideration. Because its financial implications can have lifelong effects, more and more Americans are beginning to realize the importance of bringing in a financial mediator to help them understand and navigate the financial ramifications of divorce. By analyzing current and projected future expenditures and planning carefully, clients are better equipped to reach a property settlement that is fair for all parties. While a lawyer has been trained to help clients navigate the legal implications of divorce, they do not necessarily have an understanding of financial matters. Furthermore, lawyers cannot testify on behalf of their clients, so a financial mediator plays a vital role in divorce proceedings.
Veralynn Morris, the certified divorce financial analyst (CDFA) at Divorce Financial Solutions, has been helping clients navigate their financial futures for more than 30 years. With her extensive experience, she is able to provide thorough and impartial budget reports for divorce that can play a priceless role when it comes time to negotiate at the settlement table. Serving clients in Garrett County, Montgomery County, Washington County, Howard County, Frederick County, and Carroll County, Veralynn takes a personal interest in every case and continues to work with clients long after the divorce has been finalized to help ensure a bright financial future.
A financial advisor can help anyone navigating a divorce. In fact, according to a survey conducted by the Institute for Divorce Financial Professionals, 89% of CDFAs surveyed responded that their clients had contacted them before hiring a divorce lawyer. An experienced CDFA will complement the services of your lawyer by impartially analyzing financial data to come up with a fair and equitable settlement. In addition, your CDFA can assist you in long-term financial planning as well to help ensure your financial solvency well into the future.
In addition to offering impartial analysis of data, financial mediators are also trained to help couples amicably navigate collaborative divorces so that many of the headaches associated with divorce can often be avoided. While divorce is an unarguably heated and emotional time, the assistance of a financial mediator can help separated couples reach agreements more quickly and with fewer headaches than if the process went through lawyers alone. However, a CDFA is not trained in litigation so they cannot replace the services of your divorce lawyer. Instead, a CDFA will become an important part of your advocacy team and they will assist your attorney in reaching the best settlement for you.