I always tell clients that my work is not complete until I review the draft of the property settlement agreement. In fact, I strongly believe that a Certified Divorce Financial Analyst (CDFA) review any divorce agreement where finances (deductible alimony, retirement, pensions, etc.) are a significant part of that agreement.
But wait a minute; shouldn’t the attorney have the final say on how the agreement is written? I work with many attorneys in the Maryland-DC area and always recommend to my clients that they have their agreement created and/or reviewed by an attorney.
There is no substitute for an experienced, family law attorney in this circumstance; however, an attorney’s training primarily focuses on the legal aspects of divorce.
Specially trained CPAs or Certified Financial Planners would have a grasp on the tax nuances or specific strategies that could save either or both spouses future dollars.
Improper wording or omission of the following areas can have detrimental effects for a very long time:
- Filing status – not addressed or not meshing with tax law
- Dependent Exemptions – Not allocated for maximum tax advantage or wasted
- Pensions – not addressed or not valued for equitable distribution
- Retirement Plans – incorrect Orders or penalty-affected withdrawals
- Details about financial calculations are uncertain
Any one of these issues, on its own, can cost either spouse or their children thousands of dollars over time. Making a small investment to get a detailed review of the document and its future financial impact on the family is an excellent use of a divorcing couple’s funds.
Email or call John at 410-988-7333 now to take advantage of our limited time offer now. John will personally review your agreement and offer recommendations for a fixed fee.