Former Eagles Football Player, Terrell Owens, Marital and Financial Issues

February 9, 2014

Say it Ain’t so TO!

I just saw a news article noting that Terrell Owens’s new wife is seeking an immediate divorce, and this is very soon after they were married. The article goes on to note that the reason for the divorce has to do with some financial issues, with the wife possibly believing TO married her due to monetary reasons. Here is the link to the article:  TO Article

Terrell always was a controversial player, but like him or hate him, it is sad to see his struggles. Despite some of the circus surrounding him, he always seemed to play hard, and in one instance he had a pretty miraculous speedy return from serious injury to play in the Superbowl. I was a fan!

Despite having high earnings, professional athletes and famous folks sometimes have budget issues too, perhaps due to reckless spending and short careers.  Allen Iverson comes to mind in terms of a local sports star. Many times the issues are brought to light during Divorce proceedings. Many folks would argue that the problems result from stupidity and complete mismanagement. There is definitely an element of that and they have to accept responsibility, but remember that huge money was coming in and it seems that many times there are wives, families, and followers contributing to the financial issues. One recurring theme I see in some of these situations is the X-Wife, X-Girl friend, and children, who are living luxurious lives away from the high earner. Once the money slows or stops, the continuing expenses are not within the budget. Many athletes do just fine when they take an active role in the finances and when they are surrounded by good advisers.

The moral of the story is to be careful with your cash flow no matter how much you make, try to have some savings, and to pay close attention to your finances. Try not to let financial problems hurt your marriage. Lastly, seek professional help if you are facing money or family issues. Consider marriage and financial counseling before it gets too bad. In the Philadelphia and South Jersey areas, our trusted team at Reinherz Law (www.reinherzlaw.com) handles bankruptcy and divorce, if your situation requires it.

BY David Reinherz

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