What Is Divorce Financial Planning?

Divorce Financial Planning is the intersection of experienced financial analysis, financial planning and decision coaching with the unique and complicated financial intricacies of divorce in mind. Legal advisers offer the structure and guidance necessary to fashion agreements. Cross Roads Divorce Advisors offers the creative options, financial analysis and strategies necessary to help you pursue the most financially advantageous settlement possible.

Why Hire Cross Roads Divorce Advisors?

For individuals and couples navigating divorce who are concerned about the future, Cross Roads Divorce Advisors is the divorce financial planning firm focused on establishing long-term financial well being by providing experienced, objective advice. Only Cross Roads Divorce Advisors has combined a personal touch, professional experience, and technical infrastructure to help clients seek to avoid common financial mistakes and pursue the most advantageous financial settlement.

At Cross Roads Divorce Advisors all of our advisors are Certified Divorce Financial Analysts. A Certified Divorce Financial Analyst™ (CDFA™) has earned the credential from the Institute for Divorce Financial Analysts by completing course work and examinations to test competence in the subject matter specific to Financial Planning, Analysis, Accounting and Financial Advisory in Divorce Proceedings. Our advisors also complete specialized training to learn the intricacies of finances in divorce, and client relationship skills. This training occurs initially over two intense weeks of in person basic training then continues with advanced trainings in the more complicated subject matter areas.

Cross Roads Divorce Advisors specializes in the financial aspects that arise for individuals and couples going through a divorce. We have developed a passion for guiding people through what can be the most emotionally and financially devastating period in their life. Cross Roads Divorce Advisors provide expert Divorce Financial Planning services, education and support during difficult decision making processes in order to facilitate rational and informed decisions for clients.

At Cross Roads Divorce Advisors we:

  • Help clients understand the short and long term financial consequences of settlement options.
  • Help level the playing field when one party feels at a disadvantage due to lack of financial knowledge or experience.
  • Help gather the data needed to make fully informed and intelligent decisions.
  • Help our clients strategize and build creative options to complicated settlement issues.
  • Help build complete and accurate pictures of the family financial dynamic.
  • Help conserve precious emotional and financial resources.
  • Help our clients plan for financial independence post divorce.
  • Help clients transition safely into their new financial reality with a game plan for financial success.
How Can Cross Roads Divorce Advisors Help Me?

Our role is to assist the client and his/her attorney to understand how the financial decisions he or she makes today will impact their financial future.

We will help you build a complete data gathering process, creative strategies and informed financial decisions with the goal of preventing unexpected consequences and seeking the most favorable financial outcome.

You will learn about the ramifications of complex subjects such as separate vs. marital property, valuing and dividing property, retirement and pensions, spousal and child support, the family residence, tax ramifications and insurance. You will:

  • Understand the difference between separate and marital property
  • Understand how personal property, intangible and illiquid assets are valued and divided
  • Understand Defined Contribution versus Defined Benefit plans versus Deferred Compensation plans and how they are valued and divided
  • Understand the tax ramifications of Spousal and Child support including recapture and Child Contingency rules
  • Understand the importance of security for support payments

You will understand the short and long-term impact of every financial decision you face and we will offer insight into the pros and cons of different settlement proposals so that you may choose the option most consistent with your goals.

You will receive personalized reports to illustrate your financial status, cash flow, and net worth pre and post divorce. Reports are updated throughout the process to ensure you are always prepared.

We will produce powerful case exhibits for you and your attorney in the form of spreadsheets, graphs and tables that simply and completely convey results of our analysis and help you and your attorney:

  • Find hidden and obscure assets and avoid missing something in the settlement
  • Determine income available for Child and Spousal support calculations.

We will offer you planning strategies and help brainstorm solutions for each and every question or concern.

We will provide an objective viewpoint during an emotional time to help you:

  • Determine whether you can afford to keep the house and how the decision should be carried out if you should decide to do so.
  • Understand the law of diminishing returns and when to let it dictate a solution.
  • You will be made aware of the common financial mistakes made in divorce and choose the best options for you and your family.

Most importantly; you will transition successfully into your new financial reality with a game plan for financial independence. You may choose to carry out that game plan through our comprehensive post divorce financial planning program. This program is dedicated to preparing clients for financial independence and long term success during the post divorce transition and beyond. We developed this Financial Planning program with our divorce practice in mind having seen the negative effects of lack of follow through.

How Can Cross Roads Divorce Advisors be of Value to You?

Financial planners excel in their chosen field, but they have little to no training specifically related to the financial issues of a divorce. We are trained in the financial intricacies of divorce and will be able to provide comprehensive analysis such as tracing and lifestyle analysis. Cross Roads Divorce Advisors combines the skills of the financial planning with the intricacies of divorce in mind.

What Role Does Cross Roads Advisors Play in Gathering Financial Data?

We work with our clients to identify and collect the financial data pertinent to the dissolution of a marriage. From the original data gathering we evaluate any key financial concerns related to divorce – such as income and deductions, living expenses, assets, and liabilities. This process will likely tip us to other information we will need to request. We work with your attorney to compile complete and comprehensive document requests, interrogatories and depositions to insure no stone goes unturned. We have experience in uncovering hidden and obscure assets that have otherwise been missed in other divorces such as Capital Loss Carryforwards, Limited Partnerships, etc.. Once comfortable all data has been gathered we help you and your attorney prepare accurate and defensible schedules of Assets and Debts and Income and Expenses that must be exchanged with your spouse under penalty of perjury. We can save time and money by making sure the financial information is accurate and complete allowing your attorney to focus on the legal aspects of the case.

Who Should Utilize Cross Roads Divorce Advisors?

All individuals going through the divorce process will benefit from financial counseling and advice. We work with clients from a variety of backgrounds, including but not limited to: Women individually, Men individually, Families with one primary wage earner, dual income Families, retired individuals and couples, first or second marriages, Families with and without children, Individuals and Families with significant assets and income, Individuals and Families with moderate assets and income and Families or Individuals with significant inheritance or potential inheritance.

What is the First Step that Needs to be Taken When Getting a Divorce?

Traditionally a dissolution of marriage, or divorce proceedings are initiated by the filing of a Petition by one party. The Petition for Dissolution of marriage is then served to the responding party. The party originally filing the Petition is known as the “Petitioner” and the other party is known as the “Respondent.” Following receipt of the Petition, the Respondent generally has 30 days in which to file his or her responding statement to the facts stated in the Petition.

Alternative Dispute Resolution models such as Mediation and Collaborative Divorce may answer this question differently based on the circumstances involved. It is not uncommon for the divorce process to “unofficially” begin months in advance of a petition when it is necessary to retain a team or consider whether these processes might be appropriate.

What is Separate Property and How is that Determined?

Separate property is any property that has been acquired by either spouse prior to marriage, after separation, or during marriage by gift or inheritance. A gift or an inheritance received during the marriage might be considered separate property.

Ultimately: it may be necessary to consult a Certified Divorce Financial Analyst to analyze the likelihood that an asset might be considered separate property.

What is Alimony?

Alimony, also known as spousal support, is a series of payments from one spouse to the other after a divorce. The purpose of these payments is to help balance the earning abilities of the former spouses so that they may carry on a similar standard of living post divorce.

Is My Ex-Spouse Entitled to Part of My Business?

That depends on many things. If the business was started or acquired during marriage then the answer is almost always yes. The answer is more difficult if the business was owned prior to marriage. The analysis is long and complicated and would require the assistance of professionals in the matter. The question on most business owner’s minds is; “Will I get double dipped when I buy my spouse’s interest in the business and still have to pay support based on the income from that business interest?”

How is Child Custody Decided?

In New York, either parent can have custody, or the parents can share custody. In court the judge makes the final decision about custody and visitation but usually will approve the arrangement both parents agree on. If the parents cannot agree, the judge will make a decision at a court hearing after the parents have met with a mediator from Family Court Services. Private practice Psychologists are often called as expert witnesses in court cases and almost always used as Child Specialists in Mediation and Collaborative cases with custody issues.


Cross Roads Divorce Advisors, LLC
1159 Pittsford-Victor Rd.
Suite 140
Pittsford, NY 14534

Phone: (585) 542-2382
Email: lfalvo@crossroadsdivorce.com

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