Joe Cordell Explains The Financial Ramifications Of Divorce

financial advisorsIn his most recent Financial Advisor Magazine column, Principal Partner Joe Cordell explained the importance of considering the financial ramifications of divorce.

In the April 20 article, “The Grass Isn’t Greener: Considering The Financial Ramifications Of Divorce,” Mr. Cordell notes that many successful individuals rush into a divorce without analyzing the decision in the same manner that brought them success in the first place. 

Making such a hasty decision about divorce can be financially devastating.

“Divorce is one of the most expensive and important decisions a person will ever make, particularly for those in longer marriages,” Mr. Cordell said. “They have more to lose in a property settlement if they have spent the majority of their wealth- and income-building  years together.”

Mr. Cordell observed that, in his experience, those deciding to divorce following a long marriage often let emotions dictate their decision-making process.

“… after meeting someone new, many will suddenly decide that their marriage is terrible when that is not necessarily the reality of their situation,” Mr. Cordell said. “They think they have found something better, but most of the time that turns out not to be the case, and now they must also deal with the financial complications of divorce.”

Read the full article here.