[{"data":1,"prerenderedAt":134},["ShallowReactive",2],{"gql:data:hA6_kPfIe7-WrqH7HK_cl6c3QzlNq78cBRWSYnenraI":3},{"mediaItem":4},{"relatedItems":5,"date":87,"derivedSeoDescription":13,"derivedSeoTitle":88,"derivedSocialMediaDescription":13,"derivedSocialMediaImage":89,"derivedSocialMediaTitle":88,"flexComponents":101,"author":9,"title":106,"byline":107,"shortDescription":9,"tileImage":108,"mediaFormat":117,"mediaFocuses":119,"teamMember":121},[6,35,62],{"title":7,"byline":8,"shortDescription":9,"slug":10,"featuredImage":11,"tileImage":14,"mediaFormat":25,"mediaFocuses":27,"date":34},"Outlook and Insights Fourth Quarter 2026","By Ferguson 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Search of the Perfect Gift","By Mary 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| Rebuilding Financial Clarity After Divorce | Ferguson Wellman",{"id":90,"alt":91,"caption":13,"assetUrl":92,"assetUrlXs":93,"assetUrlSm":94,"assetUrlMd":95,"assetUrlLg":96,"assetUrlXl":97,"assetUrlXxl":98,"width":99,"height":100},"6","Ferguson Wellman Logo","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xs_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/sm_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/md_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/lg_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xl_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xxl_FW-OpenGraph_2x.jpg",1200,630,[102],{"instance":103},{"__typename":104,"body":105},"MediaPageTextComponent","For many, divorce marks the end of one chapter and the beginning of another. Along with personal changes, it often reshapes many aspects of a person's financial life. Assets may be divided, living arrangements may change and long-term goals may need to be revisited. \r\n\r\nAmid these transitions, it's natural to focus on logistics like updating accounts and finalizing paperwork. That work is necessary, but it doesn't answer a bigger question: What does my financial future look like now? \r\n\r\nA financial plan is designed to answer that question. It shifts the focus from what was divided to what remains possible. In many cases, planning can add value even before a divorce is finalized. While settlement discussions often focus on dividing assets, understanding the true economic value of those assets can be just as important. \r\n\r\nAssets that appear equal on paper are not always equal in practice. A home or brokerage account with significant unrealized gains may carry a future tax liability that cash does not. Likewise, a dollar held in a pre-tax retirement account is not equivalent to a dollar held in a Roth account. Evaluating these differences before a settlement is finalized can help provide a more complete picture of available resources and inform more balanced decisions. \r\n\r\nWhether planning begins before or after a divorce is final, the focus eventually turns to the future. By incorporating spending, taxes, inflation and investment growth, a plan can illustrate how your resources can support what comes next. It can also bring clarity to questions like: \r\n\r\n**Can I maintain my current spending?** \r\n\r\n* Is retirement still on track? \r\n\r\n* How much income can my assets realistically provide? \r\n\r\n* Are there cash flow gaps I need to address? \r\n\r\n* What tradeoffs might I face in the years ahead? \r\n\r\nThe answers rarely come from one place. They depend on how your investments, income, taxes and estate plan work together, and divorce can touch each of these in different ways. The following areas are particularly relevant after a divorce, and reviewing each with your new circumstances in mind is often where the most meaningful planning happens. \r\n\r\n**Investment Strategy** \r\n\r\nAsset allocation deserves a periodic review regardless of life circumstances, but divorce is a natural time to revisit the assumptions behind it. Income needs, retirement timelines and comfort with risk may all look different now. Someone who expects to draw on their portfolio sooner than planned, for example, may want to fine-tune the balance between growth and stability. \r\n\r\nThe assets themselves deserve a fresh review as well. A settlement may leave you with a large position in a former spouse's company stock, or with several accounts that could be consolidated. Cost basis generally carries over in a divorce transfer, which means selling an investment may result in taxes on growth that occurred before the transfer. Weighing that cost can help when deciding what portfolio changes to make, and when. \r\n\r\n**Income Planning** \r\n\r\nDecisions about Social Security, portfolio withdrawals and the order in which assets are spent can have a meaningful impact on your financial picture over time. \r\n\r\nIf your marriage lasted at least 10 years and you are currently unmarried, you may be eligible for up to half of your former spouse's full Social Security benefit. Benefits are available as early as age 62, though claiming before your full retirement age permanently reduces the amount. Your claim does not reduce their benefit, and you may also be eligible for survivor benefits if your former spouse passes away. Social Security will generally pay the higher of your own benefit or the spousal benefit, but understanding all filing options can help you choose the right claiming strategy. \r\n\r\nIf you receive part of a former spouse's employer retirement plan through a qualified domestic relations order (QDRO), withdrawals taken directly from the plan before age 59½ are generally exempt from the 10% early withdrawal penalty. Income tax still applies, but avoiding the penalty can make a meaningful difference. Rolling those funds into an IRA gives up that exception. If you expect to need some of those funds before age 59½, it may make sense to withdraw the necessary amount from the qualified plan before completing a rollover of the remaining balance. Depending on the plan, you may also be able to leave funds in place to draw on later. \r\n\r\n**Tax Planning** \r\n\r\nYour filing status is determined each year on December 31 by your marital status. If your divorce is final by then, you'll file as single or head of household for the full year, which can affect your tax brackets, deductions and eligibility for certain credits. Filing as head of household rather than single, if you qualify, can provide a larger standard deduction and more favorable brackets. \r\n\r\nWhen ownership of the family home changes as part of a settlement, careful planning can make a real difference. A single filer can generally exclude up to $250,000 of gain on the sale of a primary residence, compared with $500,000 for a married couple filing jointly. Depending on when the home is sold and how ownership is structured in the divorce agreement, it may be possible under certain circumstances to preserve more of that exclusion. \r\n\r\nDivorce can also affect Medicare costs. Higher-income individuals pay a surcharge on Medicare premiums, which is based on income reported two years earlier. As a result, a joint return from before the divorce could lead to higher premiums than your current income justifies. Because divorce qualifies as a life-changing event, you can request a reassessment based on your current income by filing Form SSA-44 with Social Security. Going forward, it's worth keeping in mind that the income thresholds for single filers are roughly half those for married couples, so income that once fell below the surcharge level may now exceed it. \r\n\r\nA divorce may also create tax planning opportunities that weren't practical before. For divorce agreements executed after 2018, spousal support is not considered taxable income to the person receiving it, which can leave room in a lower tax bracket. That room may open the door to Roth conversions, which move pre-tax IRA savings into a Roth IRA at today's tax rates in exchange for tax-free qualified withdrawals later. \r\n\r\n**Risk Management** \r\n\r\nInsurance coverage that was appropriate before the divorce may not match your needs today. If you receive support payments, maintaining life insurance on your former spouse may help protect against the financial impact of their death. Owning the policy yourself helps ensure it stays in force. If you have dependent children, your own life insurance may need to be increased so that future obligations, such as education costs, can still be met. \r\n\r\nHealth insurance often needs immediate attention if coverage came through a spouse's employer. COBRA allows you to continue that employer-sponsored health insurance for up to 36 months, which can bridge the gap to a new plan. To keep that option, you or your former spouse generally must notify the plan of the divorce within 60 days. Missing that deadline could mean losing the right to COBRA coverage. \r\n\r\nChanges in income, assets, or net worth may also call for a review of disability coverage, umbrella liability protection or long-term care planning. \r\n\r\n**Estate Planning**\r\n\r\nWills, trusts, powers of attorney and healthcare directives often reflect decisions made during a different time. A former spouse may still be named to make financial or medical decisions on your behalf, or to serve as executor or trustee. While many states treat a divorced spouse as having predeceased you for certain beneficiary designations and fiduciary appointments, those rules do not apply in every situation. Taking time to review these documents with your attorney once the divorce is final helps ensure they reflect your wishes today. For parents of minor children, this is also a good time to confirm who would serve as guardian and who would manage assets left to them. \r\n\r\nBeneficiary designations deserve particular attention. Some states automatically revoke a former spouse as a beneficiary after divorce. However, these laws generally don't apply to employer retirement plans such as 401(k)s, and relying on automatic provisions can lead to unintended results. Because beneficiary designations generally control where retirement accounts and life insurance proceeds go, regardless of what a will or trust says, updating them directly is often one of the most important steps in the process.  \r\n\r\n**Looking Beyond the Transition**\r\n\r\nDivorce often means reorganizing your financial life, but it can also be a fresh start. Once the immediate decisions are behind you, there's an opportunity to build a plan around your own goals and priorities. \r\n\r\nA thoughtful plan turns a period of change into a foundation for what comes next. It brings clarity to where you stand, confidence in the decisions ahead, and the freedom to focus on the life you want to build. \r\n\r\n**Disclosure**\r\n\r\n*The views expressed represent the opinion of Ferguson Wellman. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Statements of future expectations, estimates, projections and other forward-looking statements are based on available information and Ferguson Wellman’s views as of the time of these statements. Past performance may not be indicative of future results. Ferguson Wellman, Octavia Group and West Bearing do not provide tax, legal, insurance or medical advice. This material has been prepared for general educational purposes only and not as a substitute for qualified counsel who can determine how this information applies to you. We believe the information provided is from reliable sources but should not be assumed accurate or complete.*\r\n\r\n*Please see additional [disclosures](/disclosures/).*","Rebuilding Financial Clarity After Divorce","By Charissa Anderson",{"id":109,"alt":9,"caption":13,"assetUrl":110,"assetUrlXs":111,"assetUrlSm":112,"assetUrlMd":113,"assetUrlLg":114,"assetUrlXl":115,"assetUrlXxl":116,"width":23,"height":24},"2183","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/xs__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/sm__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/md__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/lg__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/xl__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/2183/xxl__Blog_WM.jpg",{"name":59,"slug":118},"articles",[120],{"name":32,"slug":33},{"fullName":122,"title":123,"slug":124,"image":125},"Charissa Anderson","Executive Vice President","charissa-anderson",{"id":126,"alt":9,"caption":13,"assetUrl":127,"assetUrlXs":128,"assetUrlSm":129,"assetUrlMd":130,"assetUrlLg":131,"assetUrlXl":132,"assetUrlXxl":133,"width":48,"height":48},"13","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/Anderson_C.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/xs_Anderson_C.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/sm_Anderson_C.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/md_Anderson_C.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/lg_Anderson_C.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/xl_Anderson_C.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/13/xxl_Anderson_C.jpg",1792606854724]