When childless Peter Lovett admits to his wife Fran to be gay, many oddities suddenly make sense. They agree to separate, but for financial reasons still share the large house while real estate prices are too low. Six months later, Peter has fully embraced a queer lifestyle and Fran finally dates a great catch, studly music producer Elliot.
Peter grudgingly lets Fran have the house a night to make love with Elliot. Peter gets drunk and ends up unwittingly crawling in the former marital bed, spooned between Elliot and Fran. When that becomes clear in the morning, Elliot leaves horrified. Her parents refuse to let Fran move in again, so instead of moving out she settles for house rules agreed with Peter, yet meanly ruins his most promising shot at a gay date.
Realizing that a groom who enjoys planning a dream wedding is 'obviously' gay, Fran ruins a marriage - and thus the rare home sale which Peter counted on to pay their taxes. So she volunteers to sell her now pointless diamond engagement ring. Peter already booked an exclusive dinner to thank her before he learns from Cesar that she ruined his deal. Her parents visit, still singing the praises of perfect catch Elliot.
Seeking inspiration to earn money, the divorcees go through their garage stash photographs. Both are struck by a picture of former student lifeguard Richard, Fran's summer crush. He's now a developer, so Peter is as eager to meet him and makes friends. Fran is delighted to get a date, until she accidentally learns about his estranged son.
Peter hopes client Victor's quest for a Malibu villa will earn him enough commission to move out to his own place. Fran soon suspects the rich old man is gay and wants Peter as his toy-boy. Only after she sort of convinces Peter and chases Victor, it becomes clear he wanted a home for his bride. Now Frans realizes her satisfaction with Peter staying around. She attends a free sexual preferences-caused divorce help group and ends up tricking peter there.
Cesar's son Julio's school raffle first price goes to Fran: a weekend cruise to Mexico, for two. Peter and Judi bicker over the second ticket, but after her parents point out Fran is barely adult as she always depended on them or companions, she decides to stay home alone and give both tickets away. Neverheless, actually being and dining alone is no fun, she even realizes fear of loneliness made her blind for Peter's 'oddity'.
Peter and Fran go to the movies together and bump into Elliot, who she wants back, but seeing him with a woman she takes her parents' advice to forget about him. Internet dates are easy to get, by far from satisfactory. Then Peter finds out Elliot was with his sister, so they assume him still a bachelor.
Peter is mildly amused when David asks not Fran but her best friend Judi on a date. Peter even claims a kiss stolen from Fran must be meaningless, but that proves untrue when they attend the gay nightclub where Judi performs. Alas he fares little better with Marc.
The gang attends a Las Vegas concert of Jennifer, a singer managed by Elliot. Frans tries to win him back, Peter hits on with a hunk, but she clings to Peter too emphatically and they end up drunk in bed together, neither can remember if anything happened. Back home, it turns out peter's dream ate followed him, but Fran may be pregnant.
At his book signing, Fran seduces author and millionaire florist chain founder Gregory to a lunch date and hopes to have scored an ideal catch. However next he invites peter for dinner, so they assume he's gay. Next Gregory invites them separately to his hotel suite at the same time, actually for a threesome.