Certified Divorce Financial Analyst
 

The Institute for Divorce Financial Analysts™ (IDFA™) is the premier national organization dedicated to the certification, education and promotion of the use of financial professionals in the divorce arena.

The financial issues inherent to every divorce case are often times the ones that are the most overlooked. However, once a divorce settlement has been signed, it’s too late to change it.

  • Who should keep the house?
  • How much will it cost to live post divorce?
  • How much alimony is there going to be and for how long?
  • Will the custody arrangement affect child support?
  • How can the retirement accounts be split and the money accessed?
  • How can a business be offset?
  • Should a business be valued?
  • What is the value of health care benefits?
  • Most important of all, will the clients be able to financially survive (and thrive) with the settlement post divorce?

Certified Divorce Financial Analysts™ are trained to answer these questions and more for men and women in the process of divorce and to provide litigation support for their attorneys, which helps them prove and often settle their case.

What J. Michael Advisors Can Do:
"Divorce isn't easy but it can be financially fair"
  • Produce Powerful supporting case exhibits with charts and detailed financial spreadsheets.
  • Back Up and expertise to ensure you have addressed all financial issues.
  • Supporting your Budget needs based upon analysis and research of available and future resources. "Marriage is about love but Divorce is about Money"

Benefits to Our Divorce Counseling include:

  • Forensic Accounting and Income Tax return analysis to expose and locate all investment and bank accounts, discrete assets or unauthorized asset transfers during the marriage.
  • The cost of J. Michael Advisors performing these time and labor-intensive task are much more affordable than those of Attorneys or Legal Assistants, paralegals.
  • Having Peace of Mind that your settlement is financially feasible
  • Ensuring the children's best interest are preserved
  • Receiving an objective viewpoint in an emotional situation
  • Obtaining Expert advice about your special financial needs
  • Reliable expert witness testimony is court cases
"We help with budgeting and cash flow projections using sophisticated proprietary modeling software for achievable solutions with income tax efficiency for the entire family"

Our divorce clients are generally age 40 - 60 who resigned from the traditional work force to invest their life and resources into the family and the career of the larger wage-earning spouse. Occasionally we see that the higher income of the family the larger the wage-earning gap of the divorcing parties.

"Often the lower wage earning spouse has a limited grasp of the families financial situation"

Some of the most commonly overlooked assets in divorce settlements are:

  • Stock Options
  • Deferred Compensation
  • Profit Sharing and 401k assets
  • Health, Life and Disability Insurance
  • Accrued Vacation or Personal Days
  • Pensions and Benefit Deferral Plans
  • Education and company funded training
  • Seniority and Accrued Bonuses
  • Car and Company Expense Allowances
  • Frequent Flyer Miles or other perks accrued
  • Club Memberships
  • Misc. Executive Privileges
  • Leases on Personal Property

The long-term costs of equalization of the benefits earned during a marriage are definable and often not considered until it is too late after the final settlement. Child Support ends at age 18 but plans should be made for the payment arrangement of college funding or postgraduate expenses including cost beyond tuition. Also, the issuance of a life insurance policy to cover the terms of the financial settlement should the larger wage earning spouse pre-decease the fulfillment of the agreement.

"Equal is not always Equitable"

Income Tax Analysis of the asset division is imperative to ensure that the "after tax" values of the settlement are fair. Voluntary Spousal support is a viable option in lieu of property division, such as privately held business interest, or other non-marketable or illiquid assets. This could be an advantageous tax benefit to both parties.

A lifetime monthly income could be much more valuable than a partial ownership interest in an asset or partnership. Designating beneficiaries and agreed upon back up plan in case the primary spouse pre-deceases minor children.

We provide detailed book keeping and budgeting service to keep the plan and its provisions on track and viable.