Law Office of Joanne Kleiner

Archives for May 2021

May 18

What is a Certified Divorce Financial Analyst?

A Certified Divorce Financial Analyst, or CDFA, is a financial professional who can help with all the financial details pertaining to your divorce. This person typically works alongside a divorce lawyer and has a background in finance or accounting. CDFAs undergo special training to become certified, so they can offer essential advice on all financial areas of a divorce.

Why You Should Hire a Financial Planner for Your Divorce

Going through a divorce is difficult enough. However, there are always many aspects to consider during this time. Finances rank as one of the top reasons why married couples end up ending their marriage in the first place.

Women, in particular, are often concerned about the financial aspects of a divorce. If you are going through a contested divorce, things can get sticky when you want your fair share. A certified financial planner can be a valuable tool to have on your side. There are a few benefits to hiring this professional to help you through the process.

A Financial Analyst Can Save You Time

On average, a divorce in the United States takes around one year to finalize. A CDFA can help explain all the pertinent financial aspects of your divorce. This can save you precious time when you know what to expect concerning separation, spousal support and child support if your marriage produced children. You will have the advantage of being able to make better decisions about finances throughout the divorce process.

A CDFA Can Save You Money

In addition to helping their clients understand more about their basic expenses, financial professionals can also save you money. By giving you a better understanding of all the consequences of your financial choices, you will be more knowledgeable about how to make better decisions about your finances.

A Finance Professional Can Help You Avoid Long-Term Financial Problems

Working with a financial planner during your divorce can help you avoid certain long-term financial problems once you are single. CDFAs can inform you about the long-term effects they foresees in your divorce settlement. They will provide you with details about benefits and tax liabilities alike. This can help you avoid pitfalls that you might otherwise be susceptible to if you did not have a financial professional on your side. The issues a financial analyst can coach you about include events in the immediate future as well as those well into the future, such as your retirement.

An Analyst Can Help You Devise a Budget

Your financial professional can help you create a budget for your monthly spending, which can help you stay in check after your divorce has been finalized. This type of advice is practical and can keep you better balanced in terms of your money and expenses. Items such as rent, health insurance, life insurance and other basic living expenses are taken into account.

A CDFA Can Reduce Problems During the Divorce

A financial professional can also reduce certain problems that can arise during divorce proceedings. It is quite normal for confusion, misunderstandings and nervousness to occur during this stage of your life. Many people who legally end their marriage have a false sense that they will be able to obtain divorce settlements that will allow them to continue enjoying the type of daily lives they led while married. Their former spouses may have a different attitude about this, and as a result, issues can arise. Your financial professional can help ease your mind and allow you to retain stability with your finances while preventing financial mistakes from happening during the proceedings.

While a divorce lawyer is definitely an essential asset to have, you will want a financial professional on hand as well. The former is skilled in the area of the law may not know everything that a CDFA does. Having the two professionals working together on your divorce case can ensure that the proceedings go more smoothly so that you can have a positive outcome.

If you live in Pennsylvania and are going through a divorce, contact the Law Office of Joanne Kleiner for a consultation. Our office is located in Jenkintown and can be reached at (215) 886-1266.

May 14

Divorcing a Spouse Living in a Different State

It’s not uncommon for divorcing spouses to want to get farther away from each other, sometimes even going so far as to move to different states. Divorcing while living in different states shouldn’t be a problem. However, certain rules must be followed in order for the marital dissolution to be valid.

State Jurisdiction

The first order of business is to look at what state the divorce has been filed in. If you and your spouse have been living together in the same state, filing requirements may be easier, but each state has its own requirements pertaining to residency. If one of the spouses has moved to another state before the divorce was filed, the requirements need to be looked at closely as some states may have a requirement that mandates that a person must have lived in the state for at least six months in order to file for divorce in that state. Other states may specify a different time frame. In fact, this is usually the case with most states. Some states may even require that a person live there for a year before becoming a resident.

Residency Requirements

The residency requirements must be met before filing for a divorce petition in that state. If the spouses are already living in different states, each state can have jurisdiction over the divorce and hear the case in a local court. Jurisdiction means that a state has authority over the divorce proceedings. Spouses do not have to return to the state they were married in and where the marriage license was actually issued. However, if the spouses live in different states, both states technically have jurisdiction over the divorce proceedings.

Who Files First?

Proceedings will take place in the state in which the divorce was filed. Each party may need to attend the court dates regardless of which state it is in or if he or she has already moved out of state. This being the case, it would benefit the spouse who files the divorce papers first as that means the divorce proceedings will take place in his or her state. Because travel arrangements can be expensive and time-consuming, it usually behooves the spouse who files first to make quick filing arrangements.

Help Where Needed

Working with a divorce lawyer is the best way to ensure that the divorce goes smoothly. If the spouses are still on mutually good terms, they may compromise on travel arrangements or other details. Also, if the couple is agreeing on most things without a battle ensuing, it could mean that the proceedings won’t have to take place inside the courtroom other than the judge approving a settlement agreement that the couple has negotiated or has reached after participating in mediation sessions.

Things a Couple May Agree On

  • Custody and visitation of minor children
  • Alimony
  • What to do with the family home
  • Who gets to keep the pet
  • The division of assets obtained during the marriage

The more things that the couple agrees on, the faster the proceedings will be, and future travel expenses could e avoided. Sometimes, the spouses live in different but neighboring states. In this case, it may be easier to participate in mediation sessions and attend court appearances.

A divorce lawyer can often play a leading role in the negotiation of a comprehensive settlement agreement. It’s also important to have an attorney that is fair, knowledgeable and able to provide assistance when needed. Feeling as if your lawyer understands what you’re going through is also preferable. Divorces are not an easy time for most people, and having a trusted advisor and attorney can help you feel more confident and relaxed.

If you’re looking for compassionate legal advice and assistance, call the Law Office of Joanne Kleiner at (215) 886-1266. We have over 25 years of experience in Pennsylvania family law, and our office is located in Jenkintown.