Academy of Financial Divorce Practitioners - Explained
What is the Academy of Financial Divorce Practitioners?
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Table of ContentsWhat is the Academy Of Financial Divorce Practitioners?What does the Academy Of Financial Divorce Practitioners Do?Academic Research on Academy Of Financial Divorce Practitioners
What is the Academy Of Financial Divorce Practitioners?
The Academy of Financial Divorce Practitioners is an organization that was established to equip its members with knowledge of the financial aspects of divorce. Members of this academy are trained on all divorce financial related matters. A member of this academy who has gone through necessary training is called a Certified Financial Divorce Practitioner. The major areas of training in the Academy of Financial Divorce Practitioners are alimony, child support, property settlements and other related trainings on divorce financial expertise.
What does the Academy Of Financial Divorce Practitioners Do?
Members of the Academy of Financial Divorce Practitioners are regularly trained and certified members provide clients with financial expertise on dicorce settlement in terms of finances. There are two ways through which members of this academy are trained, these are classroom trainings and self-study programs. Whichever way a member chooses to be trained, adequate materials that enhance learning are supplied by the academy, members are provided with specialized software that sharpen their skills in financial planning. The training duration in the academy is 10 weeks after which members sit for a final examination that will qualify them to become Certified Financial Divorce Practitioners (CFDP) after they pass the exam. Equitable divorce settlements such as alimony, property settlement, child support settlement and retirement settlement are services offered by these practitioners.
Academic Research on Academy Of Financial Divorce Practitioners
- Avoiding Legal Malpractice in Family Law Cases: The Dangers of Not Engaging in Financial Discovery, Grossman, A. S. (1999). Avoiding Legal Malpractice in Family Law Cases: The Dangers of Not Engaging in Financial Discovery. Family Law Quarterly, 33(2), 361-386. This article explores the limitations of not engaging in financial discovery during divorce cases. According to the author, many attorneys currently enter the courtroom as defendants over the past few decades. However, dissatisfied clients have begun to lash out against their attorneys, complaining of legal malpractice, negligence, breach of fiduciary duty, fraud, and breach of contract. In such situations, attorneys are forced to conduct their client representation thoroughly. It is required that attorneys understand the law applicable to the cases they represent as well as ascertain and evaluate all relevant financial information before setting out to represent a case.
- Developing a personal financial planning program: More than just Courses, Martin, C. L. (2007). Developing a personal financial planning program: More than just Courses. Journal of College Teaching & Learning, 4(11), 79-84. This article explores the ways through which one can develop a personal financial planning program. The author denotes that personal financial planning is a major growth profession in the contemporary society. Apart from offering employment opportunity, doing a course in personal financial planning field create opportunity for challenging but rewarding career. Some of the career opportunities include being employed in a financial institution, insurance company, credit union, financial service companies, or an accounting firm. Additionally, planner may work in pension department employee benefits department. In order to have an efficient financial planning program, a key factor to consider include attracting students, gaining program support, professional community involvement, pivotal first course, and continuous assessment.
- Grey divorce: Tips for the matrimonial practitioner, Fields, J. E. (2016). Grey divorce: Tips for the matrimonial practitioner. J. Am. Acad. Matrimonial Law., 29, 57. This article offers tips for matrimonial practitioners handling divorce cases. The author begins with a poem, When Im 64, in which the persona, Paul McCartney, wonders whether his future wife would still love him when he gets old. The author then defines the life expectancy as well as the increasing divorce rates across the globe. It is stipulated that the US has the highest divorce rate in the world. Almost 45% of the married population ends in divorce. Those who are below the age of 50 years have higher percentage of divorce compared to those with 50 years and above.
- How to Help Older Divorcing Women Avoid the Bag Lady Blues, Wilson, C. A. (2006). How to Help Older Divorcing Women Avoid the Bag Lady Blues. Journal of Financial Planning, 19(6), 50. This article explains how older divorcing women can be helped to avoid the bag lady blues. According to the author, divorced women are suffering from poverty rolls with the main reason being that enduring the process of creating equitable financial settlement, attorneys do forget that the property is divided one, but career assets continue to generate more income over the years. As such, the author examines 3 key areas that widely affect how older women survive a divorce financially and how planners can offer expert advice to women and their attorneys in dividing property, retirement plans, pensions, and alimony. In the case where a woman is not working, the 50/50 split of assets can leave her broke, especially in the case when the women gets the family home as the asset which does not produce any income and may still have tax consequences.
- Division of Retirement Plan Assets upon Divorce, Brown, G. K. (1987). Division of Retirement Plan Assets upon Divorce. J. Am. Acad. Matrimonial Law., 3, 33. This article discusses the concept of asset management in the division of retirement. As employers offer meaningful retirement benefit packages to their employees, and rate of divorce continues to rise, retirement plan assets and division upon divorce continues to challenge even the most prominent practitioners of divorce cases. The author asserts that retirement plan assets may form the most important portion of marital estate for several marriages, and every practitioner can only discover such assets and evaluate their availability. However, it is proposed that practitioners must be aware of the Retirement Equity Act of 1984 as well as the Employee Retirement Income Security Act of 1974 which offer provisions by permitting plans to honor qualified domestic relations orders.