Certified Financial Divorce Practitioner - Explained
What is a Certified Financial Divorce Practitioner?
Written by J. Mance Gordon
Updated at April 20th, 2024
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What is a Certified Financial Divorce Practitioner?
A Certified Financial Divorce Practitioner (CFDP) is a professional title for experts who supply financial expertise in divorce related matters. The Academy of Divorce Practitioners (ADP) issue CFDP to individuals who have unbeatable skills in short and long-term financial planning, asset distribution and tax law.
A CFDP help spouses in a divorce matter on how they can arrive at an equitable division of assets. Through the financial advice that a CFDP renders in a divorce situation, couples are able to understand the value of their assets and the options they have in distributing the assets between the parties.
What does a Certified Divorce Practitioner Do?
Individuals who have the Certified Financial Divorce Practitioner (CFDP) designation are educated on asset settlement in divorce, the consequences of the distribution of assets, property settlement, child custody, child support and others. Understanding Certified Financial Divorce Practitioner (CFDP) In a bid to enhance an equitable distribution of wealth among divorcing spouses, a CFDP must be impartial in rendering of his professional services.
In divorce matters, the services that a CFDP render are not the same as those rendered by an attorney. While an attorney provides legal advice in the divorce, the job of a CFDP is to render financial advice, although he can also have knowledge in the legal aspect. A Certified Financial Divorce Practitioner draws information on which he bases his services from the clients in the divorce and the attorneys. Information supplied by these people form the nature of the advice a CFDP would render and the asset settlement options that will be made available to the parties.
A CFDP carries out a financial analysis on the distribution of assets and gives projections to clients based on the findings. For an individual to qualify for a CFDP designation, they must be schooled in the Academy of Financial Divorce Practitioners. CFDP program runs for 10 weeks and examinations are conducted once the training is over.