we show that when both sources ( lepton flavor violation sources and cp-violating phases) are present, the electric dipole moment of the electron, $d_e$, receives a contribution from the phase of the trilinear $a$-term of staus, $phi_{a_ au}$. for $phi_{a_ au}=pi/2$, the value of $d_e$, depending on the ratios of the lfv mass elements, can range between zero and three orders of magnitude above the present bound. we show that the present bound on $d_e$ rules out a large portion of the cp-violating and the lfv parameter space which is consistent with the bounds on the lfv rare decays. we discuss the possibility of a correlation between $d_e$ and the p-odd asymmetry in $ au o egamma$. it has recently been shown that by measuring the transverse polarization of the final particles in the lfv processes $mu o egamma$, $mu o eee$ and $mu n o e n$, one can derive information on the cp-violating phases of the underlying theory. we derive formulas for the transverse polarization of the final particles in terms of the couplings of the effective potential leading to these processes. we then study the dependence of the polarizations of $e$ and $gamma$ in the $mu o e gamma$ and $mu n o e n$ on the parameters of the mssm. we show that combining the information on various observables in the $mu o egamma$ and $mu n o e n$ search experiments with the information on the electric dipole moment of the electron can help us to solve the degeneracies in parameter space and to determine the values of certain phases.