The financial effects of divorce could be worse than any downturn in the economy. An average bear market lasts 15 months and results in a 32 percent loss in investments, according to investment firm Edward Jones. Meanwhile, a divorce can wipe out 50 percent of a person’s assets and never ends, says Ken Moraif, founder and senior advisor of Dallas-based financial firm Money Matters.
“Financially, there are few things more devastating than a divorce,” Moraif says.
Even the most amicable divorce will result in divided assets and lost household income, but you may be able to minimize the damage by following these seven steps.
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For more information, contact the Family Law Offices of Renee M. Marcelle at (415) 456-4444, or online at http://www.familylawmarin.com/