A person who does certified financial planning will be a member of and meets the requirements for the CFP Board (Certified Financial Planner Board of Standards). This means that they must meet the proper educational requirements as well as pass examinations and stick to the ethical standards of this organization in order to remain a paying member in good standing.
This board requires that anyone who applies for it has an education that includes at least a bachelor’s degree. The applicant will be required to complete several courses of study in monetary preparedness, including but not limited to the following areas of study:
- Estate
- Retirement
- Income Tax
- Investments
- Securities
- Employee Packages
- Insurance
The examination that takes place after these classes is a lengthy one that tests the knowledge across the topics discussed above. To stay with the CFB Board, a participant must continue to take continuing education courses. The person who possesses this certified financial planning degree will be more than experienced and well educated on all of the topics that might arise concerning assets and other monetary matters during the course of a divorce.
This is why a person who is a certified financial planning agent can take on the tough issues that are faced while going through a divorce. All of the various things that one person may not think about on a daily basis will be managed, such as the division of assets and making arrangements on how to handle retirement funds, IRAs, pensions, 401k plans and other legal issues that would need resolution before the divorce decree is finalized.
These are important issues that can make a huge difference in the quality of life for all of the parties of the divorce, including the children, so it only makes sense to trust these matters to a person who is a certified financial planning consultant. Trust funds and college tuition funds are just a few of the areas that will need attention and will benefit from having a trained professional examining them for the parties involved. Then there are the fees associated with everyday living expenses such as transportation, housing, food, utilities and other expenses associated with school that will have to be given the proper attention as well.
Going through a divorce is both an ending and a beginning for the parties involved. There are many things to be concerned with that demand attention. The emotional needs of the family must be met during this trying time as well. It is good to know that there will be a certified financial planning consultant there to handle all of the legal and pecuniary issues so that both parties are free to begin healing and moving forward with their new and separate lives.
While there may be many people out there who claim to be proficient and capable in these types of matters, it is extremely important that someone with the training and expertise to handle these matters be entrusted with them to ensure that everything is in order.