The Institute for Divorce Financial Analysts published the results of an interesting survey on June 11, 2009. In a collaborative case or a traditional case, a Certified Divorce Financial Analyst™ (CDFA™) can forecast the long-term effects of the proposed divorce settlement. A CDFA can also help attorneys by helping the client make financial sense of proposals, and empower their clients with the knowledge they need to make smart financial choices. An April 2009 survey of CDFA’s indicated that the ways in which divorce proceedings are handled has changed substantially with the dip in the stock market and home prices. The survey found some clients in an indefinite holding pattern while waiting for the economy to recover. Clients were also considering non-traditional, creative solutions to property division problems, such as sharing the marital home post divorce until the home sells or the market improves. A link to the article published by the IFDC is here.
As a Portland Oregon based divorce law firm, the attorneys at Stephens & Margolin LLP have seen the impact of the housing crisis and the declining stock market on clients. In recent litigation, we have seen courts ordering one spouse to pay the other to keep a house that is underwater. Parties contemplating divorce are well served to consult with lawyers trained in both traditional litigation and collaborative divorce to ensure that all resolution options are available.