The article below is reprinted from
PRWeb.
If you think that incompatibility, infidelity, and money issues can
lead a couple straight to divorce, you might just be right.
According to an
August 2013 survey of 191 CDFA professionals
from across North America, the three leading causes of divorce are
basic incompatibility (43%), infidelity (28%), and money issues (22%).
“Many couples lack the communication skills necessary to navigate
financial disagreements in their marriage,” noted one respondent. “The
emotional connection of money with safety and security in many people
makes the financial disagreements more salient than other
disagreements.”
“The incompatibility is usually caused by one or more of the other choices,” another CDFA professional added.
Several of the CDFA professionals surveyed noted that the most
commonly-cited cause of divorce they hear from their clients – “basic
incompatibility” – is usually created by deeper issues somewhere in the
relationship – usually an emotional, physical, or financial breech of
trust. This may help to explain the difference in findings between this
survey and the findings of a 2012 academic study.
“Examining the Relationship Between Financial Issues and Divorce”
published in the Family Relations journal (v. 61, No. 4, Oct. 2012),
looked at data for 4,574 couples as part of the U.S.-based “National
Survey of Families and Households”. In the study, researchers Jeffrey
Dew, Sonya Britt, and Sandra Huston examined data related to what
couples argue about – including children, money, in-laws, and spending
time together – and then looked at which of those couples were divorced
four to five years later. According to the study, financial
disagreements were the strongest disagreement types to predict divorce
for both men and women.
In a poll conducted by
http://www.DivorceMagazine.com
this summer, the leading cause of divorce was found to be financial
issues, followed closely by basic incompatibility. “During the divorce,
the two most contentious issues are usually finances and children – in
that order,” says Dan Couvrette, publisher of Divorce Magazine. “If
there are no children, then basic incompatibility and communication
problems follow on the heels of money problems.”
“I have long believed financial disagreements to be the most common
cause of marital conflict and ultimately divorce,” says Justin A.
Reckers, a CDFA professional based in Dan Diego, CA. “Now we have
empirical evidence proving this is the case across all socio-economic
classes.” Disparate goals and values around money coupled with the power
and control financial prosperity represents makes money a common battle
ground in marriages, Reckers adds. During their divorce, a couple may
be playing out the same financial conflicts they had during their
marriage. “Research is telling us to be cautious because these financial
disagreements may have been the building blocks for the conflict that
ended their marriage in the first place,” Reckers points out. As a CDFA
professional, he helps couples to “realize their financial conflicts are
usually just difficult decision-making processes set against the
back-drop of competing goals and values. When clients realize this, the
conflict becomes manageable and cases settle,” Reckers concludes.
If marriage is all about love, then divorce is all about money. “And
when people are going through a divorce, they must keep their focus on
the money,” says Jeffrey A. Landers, a CDFA professional based in New
York, NY. The author of "Divorce: Think Financially, Not Emotionally"
(Sourced Media Books, 2012), Landers adds that divorces are now much
more financially complicated than they were just ten or 15 years ago.
“Today, it’s not unusual for marital assets to include residential and
commercial real estate, sophisticated financial investments, complex
employee compensation packages, and closely-held businesses or
professional practices,” he says. “Finances, financial projections and
analyses aren’t taught in law school – and good divorce attorneys
understand they don’t have the expertise and/or the time to handle the
financial complexities of their clients’ cases.” This means that more
and more divorce attorneys are now encouraging their clients to hire a
skilled CDFA professional to assist in their case.
“If a divorcing person hopes to lock in a secure financial future for
themselves and their children, then it is vitally important to have a
divorce financial advisor on their team,” asserts Landers. “And not just
any financial advisor: they need one with the training and experience
to handle their specific set of circumstances.”
CDFA professionals are found throughout the US and Canada, from
California to New York to Toronto. For more information about how CDFA
professionals help divorcing couples make better financial decisions,
visit
http://www.InstituteDFA.com.