If you are divorcing in middle age or later, you may not have worries about child custody, but your financial situation is almost always more complex than it was in your twenties and thirties. Pagliarini also recommends working with a Certified Financial Planner: “Work with a financial advisor before the divorce is finalized so you can make sure you are not only getting your fair share, but that you don’t get stuck with illiquid assets while your ex gets the cash.” Naturally, whether you are the “out spouse” or the “in spouse” determines how you secure your personal finance future. The “in spouse” is the one who has the experience and relationships to make the post-divorce financial transition without starting from scratch. This spouse is the one who doesn’t have a relationship with the family CPA, financial advisor or attorney. The “out spouse” is the one who has not been involved in managing bills, investments, insurance, or budgeting. Robert Pagliarini, CFP, President of Pacifica Wealth Advisors, differentiates between the “out spouse” and the “in spouse” in an article for CBS News. Understand Your Role in Your Marriage’s Finances Going forward, Landers tells Huffington Post, “You’ll need to address both short-term (day-to-day expenses, monthly utilities, mortgage, car payments, etc.) and long-term (college tuition, retirement, travel) financial needs.”
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