A certified financial planner who regularly contributes media pieces on personal investment decisions and wealth management recently wrote an article about a person he terms the “out spouse” following a divorce.
That designation conveniently contrasts, of course, with the “in spouse,” who can most easily be understood as the former partner who has a seemingly decided advantage in at least one realm following a marital dissolution.
That is the financial sphere, where the “in” spouse will have comparatively less difficulty dealing with investment decisions, bill paying, insurance evaluations, budgeting and so forth because that is what he — or she — dealt with during marriage to the sole or near exclusion of the “out” spouse.
That can be unduly worrisome to the latter party during divorce negotiations and as that person enters a new period of life following divorce.
The fear doesn’t have to be all-consuming or debilitating, though, says financial planner Robert Pagliarini. A few fears commonly predominate with “out” spouses, but help from a few key professionals — centrally, from an experienced divorce attorney — can help to educate, level the playing field and promote confidence during post-divorce life.
Pagliarini points to property division and “getting a fair share” as key to an equitable divorce settlement that can help build a new life. That can be especially true in a high-asset divorce, where property needs to be accurately identified and valued. Again, securing proven divorce counsel can be key to ensuring a fair outcome here.
That is also true for what Pagliarini terms “getting clear on your assets.” That means receiving a proper mix of varied assets rather than a lump sum focused in one area, especially a comparatively illiquid investment, such as a house.
“A few good people,” notes Pagliarini, can help an “out” spouse secure an equitable result and a promising future.
An experienced Georgia family law and property division attorney can provide further information.
Source: CBS News, “Divorce financial planner: 3 common fears,” Robert Pagliarini, Aug. 23, 2013