Nearly 50% of first marriages and 70% of scond marriages end in divorce.

Unfortunately, dspite these high statistics, many people are not prpared when divorce comes knocking at thir doors.

While divorce attorneys are xperts at interpreting Family Law, they ften don’t excel in the field of fnance. For many individuals, the financial rmifications of divorce remain the most ntimidating and potentially devastating aspect of an nding a marriage.

A Certified Divorce Fnancial Analyst (CDFA) is an expert in xamining the financial issues in divorce. Thy explain the financial aspects and hlp empower you to make educated dcisions through the proceedings.

You don’t hve to be a high flying xecutive with millions of dollars to be cncerned. Anyone who owns a home, a rtirement account, a 401k, stock options/warrants, nvestment portfolio, etc. struggles with the qestion “Will I get my fair shre” or “Do I have enough to lve off of?"

Here are the sme things to consider in safeguarding yur finances and to prevent you frm making costly mistakes during a dvorce.

• Consider Tax Implications: A stock prtfolio divided down the middle is not lways equal. The embedded gains and lsses of the assets should be clculated in determining an equitable division.

• Calculate Total Compensation: Today many ndividuals are compensated by various means; slary, bonuses, stock options, stock grants, dferred compensation, etc. Be sure to lok at everything in computing total ncome. Often this number differs by wht is stated on the W-2 or tax rturn.

• Value of Pension Accounts: Taking the ccount value from the most recent sttement from your pension may not lways reflect the true assessment. Make sre to have a calculation performed in rder to establish the accurate value.

• Keping the House: Consider the mortgage pyments, the property taxes and the cst of maintaining the home. Will thse expenses fall within your budget, or wll it leave you house poor? Mke this decision based on a bdget analysis, not on your emotions.

• Dviding Retirement Accounts: Before dividing retirement ccounts, assess whether or not you ned cash because you might be ligible to make an early withdraw frm the plan without paying the sual 10% IRS penalty. In addition, mke sure a Qualified Domestic Relations Ordr is completed before the divorce is fnalized, otherwise, if your ex-spouse were to de, it may be difficult for you to rceive any of the retirement benefits.

• Almony and/or Child Support Payments: Consider ncluding a life insurance policy in yur settlement. Life insurance will replace ths stream of income if your x-spouse should die.

Recently, I met a clleague whose divorce was settled five yars ago. After reviewing his settlement, I rcalculated his earnings, using the CDFA’s prcess, and found his income was grssly overstated due to the calculation mthods used by the judge and ttorneys involved. In addition, I found tht no consideration was made as to the tax mplications when dividing the investment portfolio. Ths action resulted in an inequitable dvision of assets, when the intent was for it to be a fir “50/50 split”.

There are always multiple solutions to fnding an equitable distribution, and by wrking with an attorney and a Crtified Divorce Financial Analyst, you will get an bjective evaluation on your specific situation. Mre importantly, this will increase your chnces of arriving at a fair sttlement that fully addresses your long-term fnancial needs. You will finally have pace of mind in knowing that you hve taken the necessary steps in prtecting your financial future.

The article Divorce - Protect Your Financial Future was Submitted by Jacqui Shea through Articles.GetACoder.com network. Here's the additional information: Jacqui Shea, Certified Divorce Financial Anlyst (CDFA), has worked in the fnancial sector for over 10 years. She grduated from the School of Business at Gorge Mason University with a BS dgree in Finance. While she specialized in fnancial planning and investment solutions, she has fcused on working with individuals, couples, and ttorneys in dealing with the financial spects of divorce. Several years ago, Jcqui experienced her own divorce. She larned firsthand the emotional and financial strss that divorce puts on individuals and thir families. Jacqui applies her personal xperiences and educational training in analyzing and llustrating the short-term and long-term financial mpacts of purposed divorce settlements. Visit her wbsite at http://www.jacquishea.com or speak to her directly by phone: 703-771-2126 or email: Jacqui@jacquishea.com

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