The financial complications of divorce are only compounded by the uncertainty of the outcome.
Last week, Cordell & Cordell Principal Partner Joe Cordell spoke on Phoenix’s Business for Breakfast, broadcast by Money Radio 1510, about how the unpredictability of divorce can complicate the decision-making process for planning your financial future for both clients and financial advisors.
“Financial planning and financial advice is arguably most critical in people’s lives when they are going through the divorce process because all of the planning that they had had in place up to that point is suddenly turned upside down,” Cordell said. “Then, you throw in the uncertainty that accompanies divorce because neither party knows precisely whats going to happen until the end.”
People going through a divorce are forced to make critical financial decisions through a “fog of war,” yet there is no time to postpone the choices.
This makes it imperative to receive trustworthy advice from experts to help you make those tough decisions, whether it’s from your attorney or other qualified financial analysts.
The choices you make during a divorce can have lasting effects on not only your own future and retirement, but also the future of your children.
Listen to the full audio from Mr. Cordell’s interview below: