Maria T. Carrara, Certified Public Accountant (CPA) and Certified Divorce Financial Analyst™ (CDFA) has incorporated her accounting background with her financial services experience in order to assist her clients with the financial issues in which they are faced with in the divorce process. Maria creates customized reports, charts and graphs for both the client and their attorney in order to analyze the short-term and long-term impacts of their decisions and reviews proposed settlements for workability as well as

tax consequences. The graphs aid in visual projections when analyzing projected net worth and projected cash flow.

Maria also reviews tax returns for additional items which may have been over-looked and assists in helping you avoid the common mistakes or pitfalls relating to the financial matters of your divorce. Prior to growing her own financial services practice, she was a Controller of the Accounting Department at a financial service firm (Mutual, Inc.) which was a subsidiary of Alliant Resources Group, Inc.

During her Controllership at Mutual, Maria was responsible for the accounting department while she was simultaneously growing her own practice. She transitioned out of the corporate accounting and financial reporting industry and today is concentrating on her own financial services business. Prior to that, she also spent several years as an Assistant Controller for Cadre Financial Services, a subsidiary of Ambac Financial Group. She was a Financial Analyst in the Reporting Department for Arrow Electronics where her main responsibility was to prepare the Quarterly Analyst Briefing Book utilized for the Analyst conference call by the CFO and the top-management team. Maria was a Senior Auditor for Deloitte & Touche, LLP prior to working at Arrow Electronics, where she audited the financial statements for both public and privately held companies.

She received an Exemplary Performance award at Deloitte in May of 1998. In 1995, Maria graduated Summa Cum Laude from Adelphi University with a BBA and Accounting Degree. While at Adelphi, Maria received numerous Achievement Awards and was a member of the Accounting Honor Society, Eta Chi Alpha. During her four years of college she worked at a tax practice in Great Neck, NY. Besides her CPA and CDFA™, she also maintains her NYS Life, Accident & Health Licenses. Maria is a member of many organizations, active in her community, as well as a member of the AICPA and NYSSCPA.

As a Certified Divorce Financial Analyst™
I can assist you with the financial issues of
your divorce in the following areas:

• Assist you and your attorney in understanding the short-term and long-term financial impacts of your proposed divorce settlement.

• Examine tax consequences relating to the proposed
settlement for today and for the projected future

• Assist in the process of Valuing and Dividing Marital property

• Understanding and splitting retirement accounts as well as assisting with the QDRO’s

• Assist in Preparation of the “Statement of Net Worth”

• Help provide informative financial data regarding remaining in the home or selling the home in conjunction with the tax consequences of your decision (a complete sale of home analysis)

• Help to avoid the common mistakes and financial pitfalls

• Create personalized charts, graphs, and reports in order to illustrate financial position, current cash flow, projected cash flow, projected net worth for both parties

• Alimony and Child Support Calculations

• Assist in Preparing Monthly Budget

• Review and help determine the workability of the proposed settlements

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As a Certified Divorce Financial Analyst™,
I can help you avoid some common financial mistakes which get over-looked such as:

• Not having the QDRO’s approved before the divorce is final can leave the non-employee unprotected in the event of a premature death or remarriage and/or finding out 15 yrs later you can not receive your portion of the pension benefits due to a documentation error done by the pension company

• Not considering early retirement bonuses

• Not Understanding Code 72(t)(2c) in order to avoid 10% penalty for early withdrawal

• Not planning for death or disability of either party which can not only impact child support and alimony payments but also effect the non-employee share of the pension

• What if your plan is not divisible by a QDRO?

• Not understanding the relationship of child support and maintenance payments and their respective length of payment, could result in the loss of the maintenance tax deduction

• Carried forward losses on the tax return should be considered as an asset for equitable division

• Not having adequate life or disability insurance to cover the maintenance or child support payments and /or finding out after the process the spouse is uninsurable

• If you are in the distribution phase of your pension, fully understanding the ramifications and possible repayment of pension dollars if you return to work.