Spouse gets half; buy a house for mom?

[Stradivarius]

My sister is filing for financial separation from her husband. They have 2 small children. She resides in WA where your spouse gets half of all of your assets including businesses (she has her own pediatric dental practice). If her husband’s orthodontic practice were doing as well as her practice, it wouldn’t be as much of an issue, but it’s not. Over the past year, he has borrowed 42k from their “emergency only” HELOC and 55k from my sister’s business so he can make payroll. He would have borrowed even more from the HELOC if my sister hadn’t put a block on it (25k was taken out without telling her). She has given him plenty of referrals, contact information for advertising, she has had his accountant and lawyer try to help, they have gone to counseling, etc. She feels like she has done everything she can but he is neither taking her advice nor being proactive by his own methods. She’s at the end of her rope (and pediatric dentists have a whole lot of patience) and is worried that his habits are going to not only hurt the family financially but also set a bad example for their children.

That said, she is wondering if investing in a house for our mom would offset some of the amount her husband would get in the separation, or if it doesn’t matter and he gets half of the new house. For the past couple of years, Mom has considered purchasing a second home in the area to help take care of her grandkids, and I keep talking her out of it especially since the Seattle area market peaked later (July 2007) and is still quite overpriced. The house (or condo) would be further out in the suburbs where things are slightly less overpriced. Price range around 300k, not planning on selling for at least 10 years, could be paid in cash.

Is this a plausible option or should she just cut her losses and move on?

Any advice is much appreciated.

[Coronita]

Sorry to hear about your sister's plight. Divorces suck.  BUT, you really shouldn't ever try to get serious legal advice on a blog. Most  people aren't qualified to offer that sort of advice, and those that are probably won't beyond telling you to tell your sister to seek counsel.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Sorry to hear about your sister's plight. Divorces suck.  BUT, you really shouldn't ever try to get serious legal advice on a blog. Most  people aren't qualified to offer that sort of advice, and those that are probably won't beyond telling you to tell your sister to seek counsel.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Sorry to hear about your sister's plight. Divorces suck.  BUT, you really shouldn't ever try to get serious legal advice on a blog. Most  people aren't qualified to offer that sort of advice, and those that are probably won't beyond telling you to tell your sister to seek counsel.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Sorry to hear about your sister's plight. Divorces suck.  BUT, you really shouldn't ever try to get serious legal advice on a blog. Most  people aren't qualified to offer that sort of advice, and those that are probably won't beyond telling you to tell your sister to seek counsel.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Sorry to hear about your sister's plight. Divorces suck.  BUT, you really shouldn't ever try to get serious legal advice on a blog. Most  people aren't qualified to offer that sort of advice, and those that are probably won't beyond telling you to tell your sister to seek counsel.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Stradivarius]

Thanks, FLU. You’re right.

She has a good lawyer and I’m sure they can work out the details. Aside from this, I wonder if wanting to live near your grandchildren (instead of across the country), who may soon have a single parent, is reason enough to buy an overpriced house that is losing value while the country is on shaky economic ground. I’m a little skeptical. But in the end, it’s not my decision and if mom calculates that the risk/reward ratio is in her benefit, then I’ll just make sure she has a few worst-case scenario backup plans.

[Stradivarius]

Thanks, FLU. You’re right.

She has a good lawyer and I’m sure they can work out the details. Aside from this, I wonder if wanting to live near your grandchildren (instead of across the country), who may soon have a single parent, is reason enough to buy an overpriced house that is losing value while the country is on shaky economic ground. I’m a little skeptical. But in the end, it’s not my decision and if mom calculates that the risk/reward ratio is in her benefit, then I’ll just make sure she has a few worst-case scenario backup plans.

[Stradivarius]

Thanks, FLU. You’re right.

She has a good lawyer and I’m sure they can work out the details. Aside from this, I wonder if wanting to live near your grandchildren (instead of across the country), who may soon have a single parent, is reason enough to buy an overpriced house that is losing value while the country is on shaky economic ground. I’m a little skeptical. But in the end, it’s not my decision and if mom calculates that the risk/reward ratio is in her benefit, then I’ll just make sure she has a few worst-case scenario backup plans.

[Stradivarius]

Thanks, FLU. You’re right.

She has a good lawyer and I’m sure they can work out the details. Aside from this, I wonder if wanting to live near your grandchildren (instead of across the country), who may soon have a single parent, is reason enough to buy an overpriced house that is losing value while the country is on shaky economic ground. I’m a little skeptical. But in the end, it’s not my decision and if mom calculates that the risk/reward ratio is in her benefit, then I’ll just make sure she has a few worst-case scenario backup plans.

[Stradivarius]

Thanks, FLU. You’re right.

She has a good lawyer and I’m sure they can work out the details. Aside from this, I wonder if wanting to live near your grandchildren (instead of across the country), who may soon have a single parent, is reason enough to buy an overpriced house that is losing value while the country is on shaky economic ground. I’m a little skeptical. But in the end, it’s not my decision and if mom calculates that the risk/reward ratio is in her benefit, then I’ll just make sure she has a few worst-case scenario backup plans.

[CA renter]

If your mom is retired and has no reason to stay where she is, why not move to WA? She could rent there if prices are still over-valued. Would she be willing to rent? Where is your sister going to live? Could your mom live with her there? It might be nice for the kids to have her as a neutralizing force in the divorce hell. I think grandparents can really help kids through the transition and later, as they grow up in the “divorce environment.”

Very sorry to hear about your sister and her family. Hope everything gets resolved in a way that everyone can be somewhat satisfied. Best of luck to your family!!!

[CA renter]

If your mom is retired and has no reason to stay where she is, why not move to WA? She could rent there if prices are still over-valued. Would she be willing to rent? Where is your sister going to live? Could your mom live with her there? It might be nice for the kids to have her as a neutralizing force in the divorce hell. I think grandparents can really help kids through the transition and later, as they grow up in the “divorce environment.”

Very sorry to hear about your sister and her family. Hope everything gets resolved in a way that everyone can be somewhat satisfied. Best of luck to your family!!!

[CA renter]

If your mom is retired and has no reason to stay where she is, why not move to WA? She could rent there if prices are still over-valued. Would she be willing to rent? Where is your sister going to live? Could your mom live with her there? It might be nice for the kids to have her as a neutralizing force in the divorce hell. I think grandparents can really help kids through the transition and later, as they grow up in the “divorce environment.”

Very sorry to hear about your sister and her family. Hope everything gets resolved in a way that everyone can be somewhat satisfied. Best of luck to your family!!!

[CA renter]

If your mom is retired and has no reason to stay where she is, why not move to WA? She could rent there if prices are still over-valued. Would she be willing to rent? Where is your sister going to live? Could your mom live with her there? It might be nice for the kids to have her as a neutralizing force in the divorce hell. I think grandparents can really help kids through the transition and later, as they grow up in the “divorce environment.”

Very sorry to hear about your sister and her family. Hope everything gets resolved in a way that everyone can be somewhat satisfied. Best of luck to your family!!!

[Author]

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