A Certified Divorce Financial Analyst (CDFA®) is a financial professional skilled at analyzing data and providing expertise on the financial issues of divorce. The role of the CDFA is to assist the client and his or her attorney to understand how the decisions he or she makes today will impact the client’s financial future. A CDFA can take on many roles in the divorce process.

A Certified Financial Transitionist (CeFT®) is a professional with an established career in the financial services industry who is trained to understand the personal side of money and the unique financial challenges posed by life transitions.   A CeFT uses tools and processes to help people manage their clients' life transitions while protecting their financial interests.

Cash flow represents a dynamic movement of funds in and out of a person’s or family’s household account(s). It is determined by looking at cash received (income) and cash spent (expenses), and it is used to determine payments that are expected to happen in the future.

Financial statements show a person’s or household’s assets, liabilities, and net worth at a given point in time.


529 Savings Account
A 529 savings account is a tax-free savings plan designed to help families saving for future college costs. Look for a plan that offers top-rated funds, high contribution limits, and low expense ratios.

Power of Attorney (POA)
A power of attorney (POA) allows parents to sign documents and make decisions concerning the financial affairs of a college student if he or she becomes incapacitated.

Healthcare Proxy
A healthcare proxy permits parents to make healthcare decisions for their child if they are physically unable to do so.

HIPPA Release Form
A HIPPA release form authorizes healthcare providers to release medical information on adult children to the designated individual.

Healthcare Coverage
Healthcare coverage can include HMO plans. An HMO insurer may not offer coverage with providers located in the vicinity of the student, so you may want to investigate insurance options offered through the school.


Certified Financial Planner(CFP®)
The CFP® designation is a professional certification for financial planners conferred by the Certified Financial Planner Board of Standards. Certified Financial planners are uniquely qualified to help individuals pull their finances together, solve their financial problems, and make a plan to help their clients achieve their financial goals. To receive the designation of CFP®, the candidate must meet education, examination, experience and ethics requirements. Not all financial planners are Certified Financial Planners, be sure you see the CFP® designation when you hire a financial planner.

A fiduciary is a financial advisor who is held to a higher standard of conduct and trust who is ethically bound to act in the client’s best interest. Fiduciaries put your interests above their own and ensure that the financial advice they provide is objective and unbiased.  A fiduciary recommends financial products and advice that best suits you, the client, regardless of the benefit or lack thereof to herself.

Retirement Income
When it comes to retirement income, there are various sources that can provide you money after you’ve retired. If applicable, you can receive money from social security, retirement accounts, and pension plans, along with money from your investment savings accounts.

Retirement Accounts
Retirement accounts can be individual or company plans that allow you to invest money on a pre-tax or after-tax basis to invest for your retirement. There are several types of IRAs, including Traditional IRAs, Roth IRAs, SIMPLE IRAs, and SEP IRAs. Pre-tax basis represents funds that are placed in retirement accounts that are exempt from taxation (deducted on your tax return). After-tax dollars are monies that are already taxed by the U.S. government and put in a retirement plan where it can grow tax-free or tax-deferred, depending on your particular circumstances.

Income Stream

Income stream refers to money you generate on a regular basis and is also known as cash flow.

Expenses in Retirement

Typical retirement expenses include housing, transportation, healthcare, food, entertainment, insurance, charity/gifting, and shopping, as well as other miscellaneous expenses.

401(K) Funds
A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out (pre-tax). Taxes aren't paid until the money is withdrawn from the account.

Medicare Enrollment Period
If you’re eligible at age 65, your initial enrollment period begins three months before your 65th birthday, including the month you turn age 65, and ends three months after that birthday. However, if you don’t enroll in Medicare Part B during your initial enrollment period, you have another chance each year to sign up during a “general enrollment period” from January 1 through March 31. Your coverage begins on July 1 of the year you enroll.

Medicare’s Special Enrollment Period
There is a time outside of the yearly Open Enrollment Period when you can sign up for health insurance. You qualify for a Special Enrollment Period if you’ve had certain life events, including losing health coverage, moving, getting married, having a baby, or adopting a child. If you qualify for a SEP, then you usually have up to 60 days following the event to enroll in a plan.

Elder Care

Long Term Care Elimination Period 
This clause is typically standard on long term care policies. It is the length of time between the beginning of an injury or illness and receiving benefit payments from an insurer.

Skilled Nursing Care
Skilled nursing care is short-term concentrated rehabilitation care at a facility that is staffed with nurses and other health professionals.

Activities of daily living refer to activities that people perform without assistance. There are 6 basic ADL's which include eating, bathing, getting dressed, toileting, transferring and continence.

Health Care Proxy
A health care proxy is also known as a durable power of attorney for health care and an advance medical directive. These legal documents designate another person to make decisions about your health care in the event you are unable to make those decisions yourself.

Do not resuscitate is a medical order that instructs health care providers to avoid medical intervention and allow for a natural death.