CNBC blog on gray divorce is missing critical advice
After reading and watching the CNBC blog (see link below) about divorce after 50, I can’t help but get frustrated that the importance of hiring a financial expert like a CDFA is not recommended. An analysis of the LONG TERM cash flow and net worth and other financial implications of a divorce settlement is so critical at that age. As they recommend, my analysis looks at splitting the retirement assets, whether the house should be sold, and social security. But I also look at SO MUCH MORE!!!
People think that attorney will give them the financial guidance they need and that simply is not true. Attorneys are professionals trained to advise and protect people’s legal rights, and they must have a depth of knowledge in all areas of the law in which they practice in order to represent their clients adequately. It is not fair or reasonable to expect that they will also have the depth of knowledge that a CDFA has about taxes, pension distributions, insurance issues, long-term ramifications of property division or financial planning.
Hiring a CDFA if you are over 50 is critical!!!