Cordell & Cordell Principal Partner Joseph Cordell recently appeared on Phoenix Money Radio’s “Business for Breakfast” to discuss how a flawed decision-making process frequently trips people up during marriage and divorce.
Mr. Cordell pointed out that, typically, successful individuals take great care in planning for the important decisions they face in their lives.
“Most successful people are planners,” Mr. Cordell said. “They get there by way of thinking a lot about the important decisions in their life, whether it’s what college to go to, where they’re going to live, what job they’re going to pursue, whether they should change jobs.”
However, in regards to decisions impacting their marriage and divorce, these same people often abandon the sound decision-making process that helped make them successful.
“(Marriage) is something that very few people think about from a financial standpoint,” Mr. Cordell said. “They allow themselves to be driven by emotion, by anger, by perhaps other factors that are not rational. It’s just interesting that these same people would never consider making far less important decisions in that way.”
Mr. Cordell added that while couples should always work to try to make their marriage last forever, if divorce does end up becoming inevitable then it is important to seek legal counsel as soon as possible.
“That may seem obvious,” Mr. Cordell said, “but interestingly enough often people talk to a lot of other people, friends and others about the issue before they have that discussion with a lawyer.”
Listen to the entire interview below.