finances Archives | Page 5 of 12 | Cordell & Cordell

Joe Cordell Explains On KTRS Why Marriage, Divorce Rates Are Down

Joseph CordellGuys need to recognize that marriage is the most important financial decision they will make in their lives, and the second most important financial decision is deciding to get a divorce, Cordell & Cordell co-founder Joseph Cordell said on “The McGraw Show” on KTRS Radio in St. Louis.

Cordell was invited on the show by host McGraw Milhaven to discuss why both marriage rates and divorce rates are down.

“The economy is certainly affecting the number of people getting divorced,” Cordell said. “Many divorces are entirely discretionary purchases. In other words it’s not that they can’t co-exist but one of the parties sees a better deal coming along. In my experience, it’s typically women in their 30s who are looking to trade up and they are the ones who initiate divorces.”

Listen to the full interview below:

Joe Cordell’s State Of The Union Of Marriage

marriage meltdownThe marriage rate is at a record low as more couples are choosing to delay marriage and cohabit instead, according to the Pew Research Center.

Cordell & Cordell co-founder Joseph Cordell discussed this trend on the “Marriage Meltdown” special on KPLR 11 TV in St. Louis.

“There are no laws to protect and men and fathers in cohabiting relationships,” Cordell said. “Bottom line is it’s hard to protect yourself in a cohabitation scenario; there is no stability.”

For those couples that do marry and want stability, prenuptial agreements are becoming more common particularly for older couples with more assets and those on second marriages. The problem is there is still resistance from the younger generation to move forward with a prenup.

“People under 35 traditionally have fewer assets and are just starting out in their careers,” Cordell said, “so it’s harder to persuade them to realize that if they get divorced say 15 years from now, virtually everything they own in this world will now be in a partnership that belongs to the other half.”

 

Joe Cordell To Huffington Post: Pay Attention To The Marriage Contract!

Joseph CordellCordell & Cordell co-founder Joseph Cordell is featured on HuffingtonPost.com for his viewpoint that guys do not appreciate the extent and comprehensiveness of the marriage contract that essentially means all of their assets become hopelessly commingled once they are married.

“The single most important economic decision a person will make during their lifetime is deciding to say, ‘I do,'” Cordell writes. “The second most important economic decision a person will make is deciding to say, ‘I don’t.'”

It’s likely one of the spouses in a marriage will contribute disproportionately more in assets to the marital partnership, yet all that income, property, and assets become merged into one marital pot where the lesser contributing spouse is now entitled to half.

So what should men do to protect their assets? Read the Huffington Post article: Careful Marriage Contract May Facilitate Less Painful Divorces.”

Indiana Lawyer Interviews Cordell & Cordell Attorney Jason Hopper about Arrears and Age of Emancipation

Jason Hopper Wall Street JournalIndianapolis Divorce Lawyer Jason Hopper was featured extensively in an Indiana Lawyer article regarding prospective changes to the state’s age of emancipation law.

Many Indiana fathers have unknowingly been accumulating child support arrears after assuming their duty to pay support ends with the child’s 18th birthday when in fact the age of emancipation is 21 in Indiana. A proposed bill would lower the age of emancipation for minors from 21 to 19.

“I can’t begin to tell you how many prospective clients that I interview that have the displeasure of finding out that they have a child support arrearage,” Hopper told the newspaper.

The issue is particularly troublesome to wealthier clients who can accumulate substantial arrearages quickly if they miss a few payments. Since those child support payers who owe more than $15,000 face felony charges and up to eight years in prison, Hopper said high-income dads are at greater jeopardy of facing punishment simply because they’re paying a higher dollar amount in support.

The article “Bill Would Change Child Support Statute” is for subscribers only, but it can be read by signing up for a free 8-week trial. Read Jason Hopper’s bio for more information.

Indiana Lawyer‘s interest in reporting Mr. Hopper’s insight into this timely issue is indicative of the respect earned by the Cordell & Cordell law firm and its skilled divorce lawyers. With more than 20 years experience representing men’s interests in divorce and domestic litigation matters, Cordell & Cordell continually proves it is a partner men can count on.

To schedule an appointment with a Cordell & Cordell attorney, please call 1.866.DADS.LAW.

The effect of a divorce on a business

A divorce will likely affect a business, as the split may lead to a division of assets or could cause an increased level of stress for an owner or executive of a small company if their spouse holds a share of the firm.

Despite a Forbes report that outlined how Kim Kardashian’s divorce may actually help her business, due to the fact that her life will be more exciting as she looks for a new man, non-celebrities may suffer because of a split with their former lover.

In an interview with the National Federation of Independent Business, Alan Schacter, a certified public accountant for Citrin Cooperman, noted that a split can lead to economic problems for individuals if they are not able to remove hostilities with their ex-spouse if an asset division is required.

“You need to put personal differences aside to preserve the asset,” Schacter told the news source. “This is an emotionally charged process. Everyone wants to do it peacefully.”

According to the NFIB, the general rule is splitting business equity “50/50” and each spouse will likely retain an equal share of the assets.