havent used one...not sure ive heard of one, but is it the same as a forensic accountant?? A forensic accountant goes through all of the finances and traces what money went where and what is left to split. If im wrong here, lst me know..that is what i thought a forensic accountant did.

I know that a forensic accountant costs big bucks, so im thinking that a divorce financial planner might too....what exactly do they do?? DO they help plan out your future and what you should do with whatever funds you have as the outcome of the divorce?? Or do they help you before the divorce is final....but as to what??

It's a little different than a forensic accountant. DFP's are probably expensive. I haven't looked into the costs yet. I see a DFP as someone who is able to look at all of the finances to get a clearer view of the financial picture. It will help me adequately plan for my future and help determine what is an equitable settlement. I just don't want to be destitute when it's all said and done, or allow H to take advantage of me because I don't have the full picture of our financial situation. I'm not expecting any of this to be cheap. My H has said that he'll fight me to the end (one time he said "death") if we divorce. I'm afraid it's gonna get very nasty. Maybe that's why I haven't moved forward yet.

A divorce planner is the same as a financial planner. They look at the big picture as it is now. When things are divided, and how it will affect you in the future. They are not expensive. Most consultations are free. The advice you get is priceless.

My attorney uses an accountant she's comfortable with to track finances for the divorce.

I need to get my own financial planner. I can handle my own big picture for now. But, I will need an investment advisor to handle my investment accounts.

And, I will need an accountant or over-certified investment advisor to help divide assets. Do I take stock or cash? The decision has tax ramifications. What money must stay in retirement/other accounts to avoid tax penalties. And, thus, what do I really have for living expenses.

And, perhaps a good book to help me with perspective.

And, as my attorney already made me do for reasons of financial support, a budget. I charted everything (CHART A) we spend now ... in various categories. Then, I created a separate chart (CHART B) of what expenses I'll be responsible for when divorced. I created a slightly pumped up chart (CHART C) so I'll get enough financial support. And, a chart (CHART D) for what I would spend if I cut my needs ... to give me security that I can do this.
work with.

well, i should consider myself lucky....i haven't ever been that financially well off enough to have to worry about that. in fact, my h is so not financially well off in that respect, he's expected me to financially support him all these years. but, the fight getting nasty?? oh yeah. assume the worst so you're prepared for it. never assume he is going to be reasonable and have a heart about this. remember all we've been seeing here about the abusive tendencies...that applies to financial as well as the emotional part of the relationship. sometimes, with money they can get even more ruthless because with him losing all his power and control regarding you and yours, his money may be all he feels he has left that he can control. hope this helps

Oh yeah! The financial part is the big part! He gets mad at me for spending money on myself or our son. Yet, he goes to REI a few times a week and spends 40-120+ dollars each time! He will go shopping for himself frequently as well. He bought 2 new pairs of cycling shorts at $200 each just this week!!! Hell would freeze over before I could buy clothing for myself at the same price!

He does all this, and I can't say anything to him about it because "he works his ass off and should be able to spend his money as he pleases." You know what! I work hard too, and make a decent income and should not have to feel guilty about spending money either. but i do.

I didn't but wish I did. I found out about them too late. I spoke w/a cpa tax specialist and he told me that atty's aren't usually equipped to advise about certain things like:

if you have kids - have the settlement stipulate that the person paying child support provide life ins to cover the support pmts in case something happens, including disability.

Same for spousal support...for the length of time the support would last.

Stocks should be divided equally so each shares the tax burden in the same way. If one person gets more stock and less cash, then the one w/the stock with bear ALL the responsibility for taxes when they cash in.

My lesson learned is that my atty (yeah he screwed me royally) had a % of x's income for spousal support & excluded retirement income. Soooooo, one week after the divorce was final, x quit his job, leaving me w/no spousal support! He immediately applied for his retirement (which he f'd up and had to wait for a year to get LOL). Once he got it, he started collecting and shortly after that he started soc sec.

So he is getting twice as much as I will get in soc sec thanks to me giving up my career aspirations to follow him around the country. Anyway, right now he's living the life of riley on twice as much retirement income. Oh, and the best part? When he dies, I lose ALL but $300/mo of my share of his retirement pay.


So YES YES YES, I highly recommend taking a copy of the proposed settlement to one before you sign, even if you think you're getting a great deal.

I strongly recommend a divorce or financial planner. They are versed in the tax implications of dividing Qualified and Non Qualified monies and the tax implications of cashing out of stocks, early withdrawal, death benefits, insurance and college funds. Utmas and TOD's. Anyone can make a pie. A financial planner knows how to cut it.