insurance Archives | Cordell & Cordell

St. Louis Post-Dispatch Interviews Joe Cordell and Richard Coffee About Asset Protection

Joseph Cordell The majority of people begin to consider asset protection planning only after being served with a lawsuit, but by then, it is already too late to shield your assets.

Insurance, trusts, incorporation and retirement accounts can protect you from poverty if you’re sued.

St. Louis Post-Dispatch business columnist Jim Gallagher interviewed Cordell & Cordell co-founder Joseph Cordell and Belleville Divorce Lawyer Richard Coffee about the law firm’s new asset protection business and “Keeping Judgment Hounds At Bay.”

“We’ve been protecting guys’ assets from arguably the greatest menace that might exist out there,” Cordell told Gallagher. He meant their wives.

Now Cordell & Cordell is expanding the practice to help guys protect themselves from other threats – namely lawyers waving judgments.

Read the full article on St. Louis asset protection.

And remember, to secure all that you’ve worked so hard to achieve, Cordell & Cordell now offers asset protection services in St. Louis to safeguard your financial future.

Call 314.725.0000 Or Email Us To Set Up An Appointment

Divorce insurance probably not be the best option

In an age where people get insurance for almost any event that could influence their lives, divorce is not exempt from this trend.

According to the Huffington Post, there are a variety of companies that provide divorce insurance to individuals. Several of these businesses even provide a calculator to pinpoint the likelihood that a marriage will end, an “exact” science for any newlywed who is concerned.

If individuals are worried that their marriage is not going to last, a prenuptial agreement that is prepared by a divorce attorney may help to prevent future anguish and ease the process in the unfortunate event that it occurs.

The Wall Street Journal reported that these companies will often provide only $1,250 in coverage for the divorce process, and the payments, which can amount to $16.00 a month, may eliminate any gain in the situation. This insurance is also not feasible due to the fact that a marriage must last four years if someone were to be eligible for the premiums.

“It’s just throwing money into a black hole,” a divorce lawyer told the Journal about the likelihood that this insurance will actually help individuals.

Is Divorce Insurance Worth the Investment?

Cordell & Cordell managing partner Scott Trout weighed in on the latest divorce trend: divorce insurance.

Trout was interviewed by WOWT-TV, an NBC affiliate in Omaha, Neb., on the topic and if divorce insurance dooms a marriage before it begins.

“I think that’s a really, really bad way to start your marriage,” Trout said. “I think it’s too easy, and I think people find it their own therapy to just get divorced. They don’t want to work on it. It’s sad.”

In an attempt to ease the financial hardship divorce brings, Wedlock Divorce Insurance sells policies that pay if couples divorce after at least four years of marriage.

But Trout warns that from a legal standpoint, those benefits paid out could be considered community property. So a judge may order the couple to split the benefits regardless of who paid for the policy.

Read more about divorce insurance.