Divorce is an unfamiliar, uncharted territory for most divorcing couples. Embarking on a divorce can be like starting a wilderness expedition filled with unknowns. Odds are a journey through the unknown is going to be both stressful and daunting to navigate.
If you were going on a difficult mountain hiking expedition, you would want an experienced guide who is familiar with the terrain. You want a guide who can navigate the dangerous parts of the trail to keep you safe. You also want a knowledgeable teacher who will educate you throughout the trek for the best experience. A professional guide helps you navigate rugged perilous trails and improves your odds of a safe and successful trip.
I think of the divorce CPA as a professional guide through the rough terrain of divorce finances. When a couple’s finances are complex or their assets and liabilities are significant, the journey can be perilous. One or both of the parties may not understand key issues, making long-term financial decisions risky. It is often said, that for those experiencing it, “A divorce is the most significant financial transaction in a person’s life.”
A divorce financial professional is a specialist who has financial expertise and tools to help you navigate the rough terrain of divorce. This divorce financial guide educates you on critical financial issues and helps you identify and avoid pitfalls. For example, some assets, like the marital home, may cost you more than you can afford to maintain. Other assets, like a brokerage account, may provide income in the future increasing your net worth. You don’t want to assume that all assets are created equal. Your divorce financial professional is focused on presenting a clear financial picture and preparing you to make sound divorce financial decisions.
The credentials and certifications to look for in a divorce financial professional are: CPA and CFP® (a certified financial planner) in combination with the Certified Divorce Financial Analyst™ (CDFA™) designation. You want an experienced, certified and licensed specialist who understands the financial aspects of divorce in your state and the full spectrum of financial issues confronting a divorcing couple.
Doesn’t it make dollar sense to have a financial expert guiding you in those financial decisions which will impact you now and for the rest of your life?
“Hiking up the mountain is going to be tough, but once you get to the top, the view is worth the effort.”
About Karen H. King, CPA, CDFA, CFP
Karen H. King is a CPA focusing her Houston, Texas based practice exclusively on the financial aspects of divorce and family law. Karen has more than 30 years of experience in accounting, tax, forensic accounting and financial planning. She can be reached at 713-349-0711 or at her website at www.HoustonDivorceCPA.com.