What is a collaborative law financial neutral?

A collaborative law financial neutral is a professional who assists both parties in a collaborative divorce by providing objective financial analysis and advice, without representing either side.

How does Jennifer Failla serve as a financial neutral in my divorce?

Jennifer provides impartial financial expertise, analyzing your combined financial situation, helping identify and value assets, and forecasting the long-term implications of settlement options to facilitate equitable decisions.

What qualifications does a financial neutral have?

A financial neutral typically holds certifications such as a Certified Divorce Financial Analyst (CDFA), Certified Financial Planner (CFP), or Certified Public Accountant (CPA) with specialized training in collaborative divorce processes.

Why is a financial neutral important in collaborative divorce?

A financial neutral ensures that financial decisions are made based on objective analysis and understanding, helping couples reach fair and sustainable agreements while minimizing emotional conflict.

How can a financial neutral help with asset division?

They provide a clear picture of the couple's finances, suggest equitable ways to split assets considering future needs, and explain the tax implications of various division scenarios.

Can a financial neutral help determine spousal or child support?

Yes, by analyzing incomes, living expenses, and future needs, a financial neutral can project feasible support scenarios for consideration in the collaborative process.

What kind of financial information do I need to provide?

You'll need to share comprehensive financial data, including income sources, bank statements, investments, property values, debts, and any other relevant financial documents. This is an integral part of the Collaborative process to ensure transparency for all parties.

Does working with a financial neutral speed up the divorce process?

Yes, by clarifying financial matters upfront and facilitating rational decision-making, a financial neutral can help avoid the delays often associated with financial disagreements in divorce.

How does a financial neutral impact the cost of divorce?

Employing a financial neutral can ultimately reduce costs by streamlining the financial aspect of the divorce, avoiding prolonged disputes and potential litigation. This is hard to realize at times, but when you compare the costs of two financial experts, it is easy to see how one person managing a transparent process can help keep costs down.

Will I still need a divorce attorney if we use a financial neutral?

Yes, a financial neutral complements the legal advice from your attorneys by focusing on the financial aspects, ensuring you're fully informed when making decisions.

Can a financial neutral provide tax advice related to divorce?

While financial neutrals can outline potential tax implications of divorce decisions, specific tax advice should be verified with a qualified tax professional or preparer.

How does the financial neutral work with my divorce attorney?

The financial neutral collaboratively works with both parties’ attorneys, ensuring financial analyses and proposals align with legal strategies and client interests.

Can I work with a financial neutral if we’re not pursuing a collaborative divorce?

Yes, financial neutrals can provide valuable financial advice in various types of divorce processes, though their role is optimized in the collaborative framework.

What happens if we reach an impasse on financial issues?

The financial neutral can present alternative scenarios, facilitate discussions to uncover underlying concerns, and help find creative solutions to break the deadlock.

How are retirement accounts handled in a collaborative divorce?

The financial neutral analyzes current values, tax impacts, and future growth to recommend equitable ways to divide retirement accounts. Assistance on dividing the accounts is also available post-process.

Does a financial neutral determine who gets the family home?

They do not decide, but can provide analyses on the affordability and financial impact of keeping the home versus selling it, aiding in informed decision-making.

What if my spouse hides assets? Can a financial neutral help?

Financial neutrals are adept at analyzing financial disclosures and identifying inconsistencies or gaps, but a forensic accountant (utilized in litigation matters) may be needed for in-depth investigation of hidden assets.

How confidential is the information I share with a financial neutral?

All information shared with a financial neutral is treated with strict confidentiality within the bounds of the collaborative divorce process and applicable laws.

Can a financial neutral assist with estate planning post-divorce?

After divorce, financial neutrals can help reassess your financial situation and guide the updating of your estate plan to reflect your new status and goals.

How can I start working with Jennifer Failla as a financial neutral?

Begin by scheduling a complimentary consultation with Jennifer at Strada Wealth Management to discuss your needs and learn how her expertise can support your collaborative divorce process.