HANDLING THE FINANCIAL ASPECT DURING THE DIVORCE PROCESS.
HOST: Beverly Price, Divorce & Empowerment Coach
GUEST: María Gabriella Martinez, CDFA and Founder and Divorce Financial Strategist at Ever After Wealth
SUMMARY:
The biggest fear in divorce often revolves around money and finances, as the dissolution of a marriage can have a profound impact on one's financial stability and future. However, seeking the expertise of a certified divorce financial analyst (CDFA) can be a crucial step in navigating this complex terrain. With their guidance, you can make informed decisions regarding asset division, alimony, child support, and other financial matters, ultimately working towards a more equitable and secure financial future after divorce. In this episode of Her Empowered Divorce, your Host, Beverly Price, talks to María Gabriella Martinez, a CDFA and the founder and Divorce Financial Strategist at Ever After Wealth. Together, they discuss the importance of having a CDFA as part of your divorce team and how you can protect your financial well-being during this challenging time and move forward with confidence.
KEY TAKEAWAYS:
Why is it important to have a CDFA involved in the divorce process? Divorce is not just a legal process. It is a monster with three heads, the legal, emotional and financial components, and the best way to tackle it and make the best decision is to have the right experts to help you with each of the three areas.
When you are working with a financial advisor or financial planner, they are planning your finances for the future, and when you are going through a divorce, it’s very hard to establish your goals; you should always work with a CDFA from the very beginning because once you address the financial issues you will be very prepared to move forward with the divorce process.
What to do if you are considering a major purchase during the divorce process, and what are its implications? It’s very important to understand the kind of financial decisions you can make without having to be part of the divorce process and those that will affect the divorce process.
Having a CDFA and a divorce coach on your team is a necessity, not a luxury. You can save so much money by working with experts because you are going to pay a person for their expertise. Taking your emotional conflicts and financial settlement issues to your attorney will cost you more.
NOTABLE QUOTES:
Every financial decision you make during the divorce process requires an expert who knows exactly what happens in every situation and the consequences and can prepare you to move forward knowing what to expect. (Maria)
The more successful your divorce is, the more you have to look at it as a business transaction and do it without emotions; you need a clear head because the decision you make will affect the rest of your life. (Beverly)
When you are going through a divorce, there is a divorce law, and it’s going to trump any financial rules that you have, so walk with a divorce financial expert. (Maria)
You can get the best financial information in the world, but if you are not in a good emotional state to make decisions, you will have a hard time making decisions and might make the wrong decisions. (Maria)
So many women in the divorce process are often afraid and upset because they don’t understand the financial aspect, but the attornies cannot explain that without the right information, which is why working with a CDFA is crucial. (Maria)
Divorce is overwhelming, and it’s important to stop and think about yourself and do what gives you comfort. You have to self-care and find experts to help you; it’s an investment, and you have
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