While divorce itself is complicated, divorce with financial issues can be even more difficult.
“There can be a client who’s struggling to understand the arcane rules of divorce, and then throw in the emotional overlay of divorce, and there’s this whole set of rules and uncertainties associated with how their assets are going to be configured at the end of this process,” said Mr. Cordell.
He discussed the importance of hiring a certified divorce financial analyst. Mentioning that this type of position can be a challenging one on its own, he acknowledged that doing such a job while helping someone in a divorce can be even more complex.
During this time, clients’ emotions are high, and thought processes are not always clear, thus the financial advisor must be able to help such a client make rational decisions with his or her assets, money and future plans.
Mr. Cordell pointed out the legal obligation of hiring a lawyer who represents only one side, but drew parallels to the importance of hiring one financial advisor who would then oversee only one client’s side with finances.
Find audio from this interview below.