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Women In The Bulls Eye: The Good, The Bad, and The ...?

The Good:The Age of Women Is Now Fully Recognized

Well, finally, some 40 years after Gloria Steinem and other feministas did those unthinkable things to bring on the revolution, they are noticing. "They" being everyone from Madison Avenue marketers to Wall Street ... and even more recently from the heights of the president of the World Bank. The demographics - and actuarial tables - are finally indisputable.

Meanwhile women are rockin' it, and "They" know we're going to bring it.

The big questions are: Do we know? ... Are we prepared? ... and, as importantly ... Have we stepped up to full ownership?

Warning: Is Your Financial Adviser An Authentic Women’s Specialist?

It’s a tough economic environment and that means shrinking revenues for all manner of financial advisers as well as the rest of us.  Searching for new clients is increasingly difficult.

By now it’s well-documented through academic studies that women as a buying group have the majority of the clout and that they control the majority of financial assets in this country.  They are also known within the financial services industry to be largely inexperienced and, to some with predatory instincts, this makes them a highly desirable target.  More so, it’s understood that women especially in divorce are highly vulnerable, impressionable, and since significant dollars are changing ownership, they can be ripe for the picking.

Why Signing On the Dotted Line Needs Careful Consideration

With tax returns neatly filed and over with until next year, it seems like the perfect time to talk about what your signature means, both on your tax return and other documents as well.  A signature by definition binds the individual signing the document [i.e. contract, agreement, form, etc.] by the provisions contained in the document, which means simply:  You are legally obligated to whatever is contained within them.  And in circumstances where you are married and signing as one of the parties to the contract—or tax return—you share in the legal responsibility, as well as in any legal consequences, that may arise.   

Bay Area Couples Pair CDFA's Services With Mediation for Lower Costs in Divorce

While divorce is never easy even in the best of times, new approaches and solutions for clients continue to emerge as they grapple with diminished real estate values and a slow economy.  I am seeing a new trend in the number of both individuals and couples who are using our pre-divorce financial preparation and evaluation services as a first step, before contacting a divorce mediator or attorney.

Particularly among those parties who are choosing Mediation to resolve their divorce, I have seen a significant increase in couples and individuals using my services prior to beginning their mediation talks as they recognize lower costs and a more efficiently focused process.

Cost Savings of Working with a Certified Divorce Financial Analyst (CDFA)

There are many ways in which a Certified Divorce Financial Analyst (CDFA) can save you money, time and stress when evaluating your family financials whether "Pre-Divorce" or at any time during your divorce process.  The following summary will help you understand in greater detail how significant cost savings may accrue to your family financial asset picture.

Economic Turmoil Complicates Bay Area Divorce Proceedings

SILICON VALLEY, California (August 26, 2008)  -- Coming to an equitable divorce settlement is difficult in the best of times, but the current economic climate brings even more challenges to divorcing couples and their attorneys. To address these issues, more and more Bay Area couples are turning to Certified Divorce Financial Analysts(CDFA) for help finding the best long term solutions.

“Due to taxes and other investment costs, a party may receive what appears to be a fair 50% allocation, but after-cost valuations and practical considerations can skew the ultimate result, compromising the parity of the exchange,” says Teresa Dentino, a licensed CDFA with more than 25 years of financial planning experience in the Bay Area.

What is a Certified Divorce Financial Analyst (CDFA)?

Since 1993 and the formation of the Institute for Divorce Financial Analysts (IDFA), some 1000 professionals have been awarded the Certified Divorce Financial Analyst (CDFA) credential.

The CDFA training and designation came about in order to provide a single solution to both individuals and attorneys who are sorting through the myriad financial details of divorce with the goal of arriving at a more equitable settlement, while maximizing tax benefits and avoiding common financial penalties.  The CDFA also has background knowledge of the legal issues in divorce, but does not provide legal advice. 

Best Practices: Divorce - It Pays to be Prepared

I work with clients on a daily basis who are in some stage of the divorce process:  contemplating and evaluating their pre-divorce situation, in the midst of divorce, or post-divorce and looking for guidance in setting up a sound financial infrastructure.