The fear of sudden wealth, or the fear of not getting a fair share, often drives rash decisions during a divorce. It is common to experience a wide range of emotions—from anger and worry to the excitement of starting a life of independence.
It is often said that a woman’s standard of living plummets by almost 30% after a divorce, while a man’s improves. This disparity can significantly affect the financial decisions made during the process.
Patricia had little guidance from her divorce attorney, and the constant arguments eventually wore her out. She was more focused on walking away from everything rather than securing a stable financial future, leaving her vulnerable during the divorce proceedings.
Patricia fought hard to keep the house where she and her small children lived, but the trade-off was giving up a larger share of liquid assets. Without considering her ability to earn income or the long-term costs of maintaining the house, Patricia found the expenses unsustainable.
Eventually, Patricia had to sell the house, pay off outstanding loans, and relocate to a modest apartment. The expense of health care alone placed a tremendous burden on her budget—something that was never discussed during the divorce, leaving her to redirect her focus on her career and raising her children.
Here are some of the ways we guide clients in making critical decisions and taking control of your finances:
Ensure a smooth transition of your business to the next generation with strategic planning and effective leadership development. Empower the future leaders to sustain and grow your legacy.
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The Parent Trap highlights the financial and emotional challenges parents face when trying to support their children, often risking their own financial stability in the process.
