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Sallie Mullins Thompson, CPA PLLC

Navigating Your Financial Life Through Effective Tax Strategies

 

What Inspired Me to Become a CDFA and Financial Mediator

| October 08, 2019
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Today I want to paint a picture for you of a specific scenario

  • A woman is getting divorced. 
  • She is terrified about her financial security.
  • She has not managed the family’s daily expenses. 
  • She has a young child and is anxious about the child’s future as well. 
  • She feels threatened and emotional. 
  • She needs to make important financial decisions that will impact the rest of her life. 

35 years ago that was me!

I now know it doesn’t have to be this way. There are ways to conduct the process differently so that divorcing women don’t go through what I did. By becoming a Certified Divorce Financial Analyst (CDFA) and Financial Mediator and offering services in this sector, I can assist these women and their families.  

Women in this transition period need planning, education, and support. I am passionate about helping my clients in this situation draw a map for their financial journey. I want to reduce the risk of them getting lost - that way they can reach their destination.   

As a CDFA, I can estimate how much money, both income and assets, will be available to them in the future, along with any related tax considerations. Having this information enables them to make sound and informed decisions. 

As a financial mediator, I can facilitate the negotiation of a separation agreement in which everyone in the family is considered. In this capacity I work with divorce attorneys, mental health professionals, and on Collaborative Divorce teams.    

Further, due to my background as a CPA, I understand the tax impact of divorce/separation agreements. On my watch, these women can end up with more cash and higher account – bank, investment, and retirement – balances. Plus, they won’t be blindsided by the IRS.

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