What Does a Certified Financial Litigator Do in a Divorce?

 Posted on January 07, 2025 in Illinois Divorce

Divorce is one of the most financially complex events many people experience. Untangling shared assets, debts, and financial obligations can be time-consuming, expensive, and exhausting. This is where a Certified Financial Litigator (CFL) plays a vital role. 

A CFL is a financial professional with specialized training to navigate the intricate financial aspects of legal disputes, including divorce cases. Combined with the legal knowledge of an Illinois divorce attorney, a CFL can make a major difference in the outcome of a divorce. 

What Does a Certified Financial Litigator Do? 

Certified Financial Litigators bridge the gap between law and finance. They possess expertise in financial forensics, valuation, and dispute resolution, which makes them uniquely qualified to deal with complex financial issues in divorce proceedings. Their main goal is to ensure that all financial matters are correctly discovered, documented, and negotiated to achieve a fair divorce settlement, particularly in regard to property division.

Responsibilities of a Certified Financial Litigator in Divorce

Asset Identification and Tracing

One of the first steps in a divorce is identifying all marital and non-marital assets. This can include bank accounts, retirement accounts, investments, real estate, and business accounts. A CFL ensures all assets are disclosed and accurately valued, reducing the risk of hidden assets or undervaluation.

Looking for Evidence of Hidden Assets or Asset Dissipation 

In contentious or high-net-worth divorces, financial transparency can be a challenge. A CFL investigates financial records to look for hidden income or assets, unusual transactions, and misuse of marital funds.

This work ensures a complete understanding of a divorcing couple’s finances. 

Calculating Child Support and Alimony Payments

Financial litigators also assist in calculating appropriate spousal and child support by analyzing income, expenses, and tax implications. They ensure support payments are based on accurate data.

Tax Planning

Divorce can have significant tax implications, from property transfers to business divisions. A CFL helps clients navigate these complexities to minimize tax liabilities and maximize financial outcomes.

Do I Need a Certified Financial Litigator in My Divorce?

Divorces often involve emotionally charged decisions that can cloud judgment. CFLs provide objectivity and financial expertise, ensuring decisions are informed by facts, not emotions. Their involvement can:

• Reduce litigation time and costs.

• Give clear, informed information about financial obligations and entitlements.

• Protect clients from financial pitfalls, such as hidden assets or bad settlement proposals.

Whether you ultimately decide you need the help of a CFL, you should at least get a sense of how one could help you in your divorce. 

Call Our Kane County, IL Certified Financial Litigator Divorce Lawyer

If you are gearing up for a high-net-worth or otherwise financially complicated divorce, you will need the help of someone better than a normal lawyer with normal experience. At Weiler & Associates, Inc., our head St. Charles, IL high-net-worth divorce attorney, Timothy Weiler, is a Certified Financial Litigator with the knowledge and proven ability to resolve even the most complicated financial issues during divorce. Call our firm today at 630-331-9110 to schedule an initial attorney meeting.