In his most recent Financial Advisor Magazine column, Cordell & Cordell Principal Partner Joe Cordell explained the value financial experts can bring to the divorce process by providing several specific examples of how advisors can impact divorce proceedings on a day-to-day basis.
“From helping to determine the value of a business to forecasting future income potential, financial experts are a crucial professional to include on your divorce team,” Mr. Cordell wrote.
Mr. Cordell provided three specific examples of how a financial advisor can assist with the divorce process: when evaluating the value for the marital portion of a business, when analyzing future income, and when avoiding sentimental attachments that can be financial burdens.
“Family law attorneys recognize the importance of financial advisors in this process and will typically welcome the input of an expert from the financial field,” Mr. Cordell said. “The challenge often becomes convincing the client of the advisor’s value in the long term weighed against the short-term costs.”
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