Certified Divorce Financial Analyst Ken Maynard
Certified Divorce Financial Analyst
The average length of the Ontario divorce process is 2-3 years. In the early stages of separation and divorce, both parties spend a great deal of time trying to get a clear understanding of the financial aspects and terminology of the separation. As a Certified Divorce Financial Analyst I can explain the financial aspects of the pending decisions and help empower you to make educated and informed decisions throughout the proceedings.
In my work as Certified Divorce Financial Analyst I assist individuals, couples, and their Collaborative lawyers and or mediators in their divorce financial planning in a variety of ways, including division of assets and debts, determining income available for support, lifestyle analysis determining living expenses, valuing and dividing pensions, preparing lifestyle spending forecasts, reviewing the tax impact of settlement proposals, preparing valuations, assessing separate property and assessing dissipation of marital assets. Getting the help you need early in separation and divorce can save you time and resources.
Help relieve some of the panic, instill calm, and take some of the emotion out of financial issues
Develop understanding of the financial issues, the decisions that need to be made and the financial consequences of those decisions
Help to develop household spending plans
Collect accurate and complete information about the assets
Organize valuation of the assets, taking into account tax implications
Help to decide division of assets
Advise on marital/separate property issues
Collect all the information about debts
Help decision-making on how to divide/deal with the debts
My experience as certified divorce financial analyst benefits clients with long term forecasts of the effects of a divorce settlement. A long-term forecast is of a great value than a short-term snapshot to when making informed financial decisions. You decision making should balance immediate family needs with retirement needs as well.
Collect accurate and complete information about income streams, deductions, etc.
Determine income that should be counted by self-employed or in closely- held businesses
Determine the resources a spouse needs to maintain his/her lifestyle
With my certified divorce financial analyst services I often help my clients work through what the long term impacts of their separation and divorce will really be. Together we develop a realistic monthly lifestyle budget as part of the financial analysis process. Good Divorce Financial Planning help clients avoid post-divorce financial struggles.
Pensions and Retirement Plans
Help to decide whether pensions need to be divided, or valued for offset with other assets
Ensure that pensions are divided correctly, taking into account separate/marital portions, vesting, etc.
Take all the relevant information and provide forecasts of cash flow and net worth to assist in decisions about spousal and child support
Show tax impact of decisions, including deductions, child deductions, spousal support
Help to avoid possible tax problems such as recapture, capital gains, approved retirement scheme penalties, etc.
Help to decide who should take child deductions and what filing status to use
Value business interests, or reviewing the valuation done elsewhere
Value stock options, stock in private companies, deferred compensation, and trust interests
Separate Property Tracing
Determine whether the separate property claim of a spouse is in fact separate, and if so, the value
Dissipation of Assets
Determine whether marital funds have been used or transferred inappropriately by a spouse
What is your Financial Health Quotient
Financial Health Quotient
How financially ready are you for separation and divorce?
Budgeting income and expenses during a divorce is so important, yet it’s often overlooked or not taken seriously. However budgeting can only take you so far. Total Financial Awareness is the key to maintaining financial viability and health.
Check out your awareness level with our exclusive Financial Health Quotient “FHQ” Self-Assessment tool. See how you score. The results may surprise you?
Take 5 minutes, Complete your FHQ self -assessment now!