The End of the World
There are few experiences in life, when it comes to pain and suffering, that compare with divorce. Two people who once were partners in everything, who may be parents together, and who know every intimate detail of each other's lives, have now become adversaries. It has been compared to death, but many feel it's worse. At least with death, when someone close to you dies, the funeral begins the healing process. That's not so with divorce, especially when there are children involved. The emotional pain can go on for a long time.
Divorce can be hard on your financial plan. In fact, it may completely wreck it. According to statistics over half of the marriages in our country will end in divorce. Statistically, it's more likely that one of my clients will get divorced in the next five years than that they will die.
What do you need to know in these situations, from a financial planning point of view?