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Greed is a common accusation hurled in the midst of a divorce settlement. After all, a dollar in one spouse's pocket may be a dollar out of the other's pocket.
Greed can be a deadly sin in divorce because irrational expectations lead to higher court costs and legal bills. According to divorce experts, individuals should set realistic expectations and understand the law of diminishing returns to avoid this deadly sin.
This is particularly important when a couple has been in business together. Diane Pearson, a CDFA with Legend Financial Advisors in Pittsburgh, has counseled clients "where greed is a reflection on business owners who tend to hide the true value of their business.
"They will show up in court with a W-2 Form," for example, "claiming that is all they get out of the business, and it is usually the smallest slice they get from the business," says Pearson.
At such times, she says, "We pull in business evaluation professionals who investigate the business' assets and venues to find out their true worth."