A Financial Specialist (also called a Financial Neutral) is a neutral third party who works as a member of a Collaborative Law team to assist parties as needed. Regardless of the assets and debts you have accumulated, a Financial Specialist can provide important and helpful information to you and your spouse. For example, you may want to know:
- What is the best way to divide our assets and debts given our interests?
- How do we afford moving from one household to two?
- Is my spouse hiding money from me?
- Has my spouse spent money without telling me?
Among other things, a Financial Specialist will request documents from both parties, including statements for all accounts in the parties’ joint and sole names, review those documents, and then report to the parties and their attorneys on their present values and potential budgets. If the Financial Specialist notices that statements for an account are missing, then he or she will request these statements. As a group, and with the advice of the Financial Specialist, you and your spouse then generate options regarding dividing assets and debts and paying for expenses moving forward. If you suspect your spouse is hiding assets or has spent money without telling you, then the Financial Specialist will be able to spot these issues so they can be addressed you and your Collaborative Law team.
The Financial Specialists who are members of CCDP are specifically trained in the Collaborative Law process and hold either a Certified Financial Planner (“CFP”) or Certified Public Accountant (“CPA”) designation, are in good standing with the Certified Divorce Financial Analyst (“CDFA”) designation. For more information, please check out our Financial Neutral webpage: http://www.charlottecollaborativedivorce.org/financial-advisors/.
Dan Lewis is a family law attorney and NC DRC Family Financial Mediator in Charlotte, NC. He has been practicing Collaborative Law since 2009 and formerly served on the CCDP Board from 2013-2016. For more information about Dan, please see:http://www.hatcherlawgroup.com/attorneys/daniel-a-lewis.